Section 1 of this Act amends § 144 of Title 8 to provide safe harbor procedures for acts or transactions in which one or more directors or officers as well as controlling stockholders and members of control groups have interests or relationships that might render them interested or not independent with respect to the act or transaction. Under revised § 144(a), certain acts or transactions involving such directors or officers will be protected if approved or recommended by a majority of the disinterested directors, either serving on a board of directors or a committee of the board of directors, or approved or ratified by a majority of the votes cast by the disinterested stockholders entitled to vote thereon, in each case upon disclosure or in full knowledge of the material facts giving rise to the conflict or potential conflict. If a majority of the directors are not disinterested directors with respect to the act or transaction, any such disinterested director approval or recommendation must be provided through a disinterested director committee. In addition, the amendments define what parties constitute a controlling stockholder or control group and provide safe harbor procedures that can be followed to insulate from challenge specified acts or transactions from which a controlling stockholder or control group receives a unique benefit. Under new § 144(b), a controlling stockholder transaction that does not constitute a “going private transaction” may be entitled to the statutory safe harbor protection if it is negotiated and approved or recommended, as applicable, by a majority of the disinterested directors then serving on the committee, or is conditioned on the approval or ratification by disinterested stockholders and is approved or ratified by a majority of the votes cast by the disinterested stockholders. Under new § 144(c), a controlling stockholder transaction that constitutes a “going private transaction” may be entitled to the statutory safe harbor protection if it is negotiated and approved or recommended, as applicable, by a majority of the disinterested directors then serving on the committee and is conditioned on the approval of or ratification by disinterested stockholders and is approved or ratified by a vote of a majority of the votes cast by the disinterested stockholders. With respect to any approval or recommendation by a committee, the safe harbor only applies if the act or transaction or controlling stockholder transaction, as applicable, was approved by a committee consisting of at least 2 directors, all of whom, in the first instance, have been determined by the board of directors to be disinterested directors. Revised § 144 provides that any approval or recommendation, as applicable, of disinterested directors or a disinterested director committee must be made in good faith and without gross negligence, making clear that the statute does not displace the common law requirements regarding core fiduciary conduct as contemplated by cases such as Flood v. Synutra International, Inc., 195 A.3d 754 (Del. 2018), and In re MFW Shareholders Litigation, 67 A.3d 496 (Del. Ch. 2013), aff'd sub nom., Kahn v. M & F Worldwide Corp., 88 A.3d 635 (Del.2014). Revised § 144 does not limit the right of any person to seek relief on the grounds that a stockholder or other person aided and abetted a breach of fiduciary duty by one or more directors. Consistent with existing case law, the stockholder or other person must have knowingly participated in a breach of fiduciary duty to establish an aiding and abetting claim. In re Mindbody, Inc., 2024 WL 4926910 (Del. Dec. 2, 2024). The amendments to § 144 also set forth criteria for determining the independence and disinterestedness of directors and stockholders. The amendments provide that controlling stockholders and control groups, in their capacity as such, cannot be liable for monetary damages for breach of the duty of care. Section 144 is intended to provide a comprehensive liability exculpation scheme with respect to the fiduciary duties owed by stockholders and with respect to when the safe harbors in § 144(b) and (c) apply. Section 144 does not provide for the elimination of liability or safe harbors for stockholders who are not controlling stockholders or part of a control group because those stockholders do not owe fiduciary duties to the corporation or other stockholders. The amendments do not displace any safe harbor procedures or other protections available at common law, including processes and procedures that comply with the pre-amendment common law but do not conform to the § 144 safe harbors. The references in § 144 to an act or transaction being “fair as to the corporation and the corporation’s stockholders”, which would apply if the applicable disinterested director and disinterested stockholder safe harbors are not used, is intended to be consistent with the entire fairness doctrine developed in the common law. Section 2 of this Act amends § 220 of Title 8 to define the materials that a stockholder may demand to inspect pursuant to a request for books and records of the corporation. The amendments also set forth certain conditions that a stockholder must satisfy in order to make an inspection of books and records. The amendments make clear that information from books and records obtained by a stockholder from a production under § 220 will be deemed to be incorporated by reference into any complaint filed by or at the direction of a stockholder on the basis of information obtained through a demand for books and records. New § 220(b)(4) preserves whatever independent rights of inspection exist under the referenced sources and does not create any rights, either expressly or by implication. New § 220(f) provides that if the corporation does not have specified books and records, including minutes of board and committee meetings, actions of board or any committee, financial statements and director and officer independence questionnaires, the Court of Chancery may order the production of additional corporate records necessary and essential for the stockholder’s proper purpose. New § 220(g) provides that a stockholder may obtain additional specific records if the stockholder has made a showing of a compelling need to further a proper purpose for the inspection and has demonstrated by clear and convincing evidence that such specific records are necessary and essential to further such purpose. Section 3 of this Act provides that Sections 1 and 2 of this Act take effect on the enactment of this Act and apply to all acts and transactions, whether occurring before, on, or after the enactment date of this Act, except that Sections 1 and 2 of this Act do not apply to or affect any action or proceeding commenced in a court of competent jurisdiction that is completed or pending, or any demand to inspect books and records made, on or before February 17, 2025. This Act requires a greater than majority vote for passage because § 1 of Article IX of the Delaware Constitution requires the affirmative vote of two-thirds of the members elected to each house of the General Assembly to amend the general corporation law.
Sponsored bills
This bill removes certain limitations placed on Sussex County Vocational Technical High School, thereby allowing the school district the same rights and privileges as Polytech (Kent County) and New Castle Vo-Tech.
This Resolution pays tribute to the men and women of the Delaware National Guard for their service and sacrifices in support of defending our state and nation, and recognizes the outstanding advocacy provided by the National Guard Association of Delaware
This House Concurrent Resolution designates the 21st day of the Month of March 2025 as “Rock Your Socks for World Down Syndrome Day” and celebrates the beauty and contributions that people with Down syndrome make in Delaware.
This Act requires the Department of Elections to review every political committee’s contribution and expense report and to note the report, on the Department’s website, as either “Submitted but Not Reviewed” or “Reviewed and Final”. If the Department discovers any violations of this chapter, it must work with the candidate to rectify the violations. Once the violations are corrected and the candidate submits an amended report, the report’s status shall be updated on the Department’s website and clearly marked as “Reviewed and Final”. This Act will apply to all contribution and expense reports submitted after March 1, 2026.
Maddy summarySCR 29 is a symbolic resolution recognizing March 18, 2025, as "National Public Defense Day" in Delaware. It commemorates the 1963 U.S. Supreme Court ruling in *Gideon v. Wainwright*, which established the right to counsel for indigent defendants. The resolution honors Delaware's Office of Defense Services, which provides legal representation to people who cannot afford attorneys and handles over 20,000 cases annually. As a procedural resolution, it does not create new laws or change policies - it solely serves to acknowledge the importance of public defense.
Maddy summaryThis resolution symbolically recognizes March 6-7, 2025, as "Delaware Giving Day" to honor the annual charitable event organized by Do More 24 Delaware. It does not create new laws or allocate funds but formally acknowledges the statewide nonprofit fundraising campaign that supports over 600 organizations. The resolution highlights the event's impact, including $2.5 million raised in 2025 and its role in connecting donors with community causes across all Delaware zip codes. It directly affects Delaware’s nonprofit sector by elevating public awareness of their work. (1 sentence summary as it is a procedural recognition.)
The State of Delaware previously offered an employer match for state employee contributions to the deferred compensation program. The purpose of the match was to help state employees save and build wealth for retirement and to enable state government to recruit and retain talent by offering a valuable retirement savings benefit. In July 2008, during the Great Recession, the State suspended the employer match to cut costs. Every year since fiscal year 2008, the General Assembly has written in the annual appropriations bill: “It is the intent of the General Assembly that this program be reinstated when funding becomes available.” This Act updates the laws governing the employer match in anticipation of the General Assembly restoring the match this session and increases the maximum match to $20 per pay period. This Act also eases restrictions on which participants are eligible for the match. To help employees who are unable to save for retirement because of their student loan burden, this Act enables a match for employee’s student loan payments with employer contributions to their deferred compensation account. Congress enabled employers to make this type of matching contribution with the passage of the SECURE 2.0 Act, which was included in the Federal Fiscal Year 2023 Omnibus Appropriations Bill. This Act provides the Plans Management Board with the discretion to determine which plan the matching contributions should be deposited into.
This Act updates the DOE’s standards for selecting and and implementing statewide reading screeners and literacy intervention approaches. In summary, this Act does the following: 1. Clarifies factors that the Department must consider when selecting literacy intervention approaches that may be used by schools. 2. Authorizes school districts and charter schools to submit an alternative reading screener to the Department for approval. 3. Requires the Department to annually identify schools with a significant level of students below proficient on the State’s third grade reading assessment for 2 consecutive years. 4. Requires the Department to provide additional supports to schools identified as below proficient.
This Senate Concurrent Resolution recognizes March 2025 as "Colorectal Cancer Awareness Month" in the State of Delaware and highlights the importance of education, prevention, and early detection to reduce the impact of colorectal cancer.