Richards Layton & Finger
 

2006 Amendments to the General Corporation Law of the State of Delaware

July 11, 2006

A summary of the amendments to the General Corporation Law of the State of Delaware (the “General Corporation Law”) and to certain provisions of the Delaware Code relating to corporate franchise taxes is enclosed. These amendments were signed into law by the Governor of the State of Delaware and will become effective on August 1, 2006, January 1, 2007 or January 1, 2008, depending on the specific amendment. The amendments address a number of important topics, including issues relating to bylaws adopted by stockholders specifying the vote required for the election of directors, information that will be required on annual franchise tax forms and the ramifications of failure to provide such information.

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