Section 273 of the Delaware General Corporation Law (“DGCL”) requires that the stockholders “shall be engaged in the prosecution of a joint venture” in order to seek dissolution of an
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DGCL
Section 220 Inspection of Stocklist Materials
Section 220 of the Delaware General Corporation Law (“DGCL”) provides a stockholder with the ability to inspect a corporation’s stocklist. Upon the prerequisites of the statute being met, the burden…
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Sections 204 and 205 of the Delaware General Corporation Law Enacted
On April 1, 2014, new provisions of the Delaware General Corporation Law (the DGCL) went into effect, Sections 204 and 205 of the DGCL.
Section 204 of the DGCL provides…
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Delaware Dissolution Procedures: The Extent of Potential Director Liability
Section 281(b) of the Delaware General Corporation Law (the “DGCL”) makes clear that as to future claims, the dissolved corporation shall adopt a plan of distribution pursuant to which the…
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Dissolution of an LLC with Two 50/50 Deadlocked Shareholders
Under the Delaware General Corporation Law (the “DGCL”), 8 Del. C. § 273 provides the basis for the dissolution of a deadlocked “joint venture” corporation, meaning that there are two…
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Amendments to Delaware General Corporation Law Brings Clarity to Nonstock Corporations
In August 2010, Delaware enacted several amendments to the Delaware General Corporation Law (“DGCL”) in connection with nonstock corporations. Prior to these 2010 amendments, the DGCL lacked a comprehensive approach…