Supporters of a draft bill aimed at reforming the laws governing the formation and oversight of foreign limited liability companies in Delaware are pushing ahead with their legislative efforts, despite opposition from prominent corporate attorneys and state leaders.
Members of the Delaware Coalition for Open Government unveiled the proposed legislation at a press conference last month, but the group soon met resistance from representatives of the Delaware State Bar Association, including the chair of the DSBA’s corporation law section, who characterized the measures as a “significant departure” from the state’s current statute.
