Open government advocates last week unveiled draft legislation aimed at tightening financial and security oversight of foreign limited liability companies looking to form in Delaware, an approach that a leading corporation law attorney characterized as a “significant departure” from the state’s current statute.
Among the proposed reforms, announced May 17 by representatives of the Delaware Coalition for Open Government, are measures that would prevent foreign entities from evading federal scrutiny by using the law to establish a series of Delaware companies.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]