Richards Layton has been instrumental in shaping Delaware’s flexible statutory framework that allows investors, entrepreneurs, and managers to fashion their business organizations in the most efficient configuration. That insider’s perspective is fundamental to our effectiveness at helping our clients, including major national and international businesses, structure and implement their commercial transactions.
Authoritative Opinions and Closing Opinions
We have drafted or helped shape key business statutes, and litigated many of the key cases interpreting these statutes. That gives us unique institutional knowledge and insights that we use to our clients’ advantage, enabling them to complete transactions successfully.
Delaware UCC and Contract Insight; UCC Opinions
Directors of our firm are the current or past chairs of the Delaware State Bar Association’s UCC Committee and the Commercial Law Section. We have been instrumental in the drafting of Delaware’s version of Revised Article 9 of the UCC, which deals with the perfection and enforcement of security interests. Delaware’s role as a primary jurisdiction of organization for business entities gives great weight to the state’s UCC provisions, and clients rely on our UCC opinions in hundreds of complex transactions every year.
2023 Amendments to the Delaware Uniform Commercial Code
August 31, 2023
On August 18, 2023, Governor John Carney signed Senate Bill No. 157 (“SB 157”) into law. SB 157 incorporates amendments, approved by the Uniform Law Commission in 2022, into the Delaware Uniform Commercial Code (“Delaware UCC”). These 2023 amendments include, but are not limited to: Creating a new Article 12 to address “controllable electronic records” (“CERs”)…
Delaware Laws & Programs Affecting Business – 2020 Edition
2020
Delaware Laws & Programs Affecting Business presents an introduction to Delaware and an overview of the laws and programs relating to doing business in the State. Our economy is diverse, and our legal framework is intentionally crafted to foster robust business activity. Our widely copied business laws lead the nation in clarity and predictability. Government…
Perfecting a Security Interest in the Assets of a Series of a Delaware LLC or LP
July 31, 2019
For a number of years, the Delaware Limited Liability Company Act (the “LLC Act”) has permitted Delaware limited liability companies (“LLCs”) to establish designated series of members, managers, limited liability company interests or assets. In 2007, the LLC Act was amended to provide series the power and capacity to, in their own names, enter into contracts,…
Delaware Laws & Programs Affecting Business – 2011 Edition
July 2011
This guide presents an introduction to Delaware and an overview of the laws and programs relating to doing business in the State.
Amendments to the General Corporation Law of the State of Delaware
February 23, 2009
Important Proposed Amendments to the General Corporation Law of the State of Delaware Relating to Proxy Access, Proxy Expense Reimbursements, Record Date Bifurcation and Other Matters