Governor Meyer Signs SB21 Strengthening Delaware Corporate Law – State of Delaware News

March 26, 2025

Governor Meyer Signs SB21 Strengthening Delaware Corporate Law – State of Delaware News

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Governor Matt Meyer's Logo

DOVER — Tonight, Governor Matt Meyer signed Senate Bill 21 into law, thanking lawmakers for the swift passage of this critical update to Delaware’s corporate law, aimed at ensuring the state remains the premier home for U.S. and global businesses. The legislation, developed in collaboration with corporate leaders and legal experts, clarifies key governance structures to reinforce Delaware’s reputation for equitable, predictable, and efficient corporate oversight.

“Delaware is the best place in the world to incorporate your business, and Senate Bill 21 will help keep it that way, ensuring clarity and predictability, balancing the interests of stockholders and corporate boards,” said Governor Matt Meyer. “I want to thank Secretary of State Patibanda-Sanchez, Lieutenant Governor Kyle Evans-Gay, Senator Bryan Townsend, House Speaker Melissa Minor-Brown, Representative Krista Griffith, Senate Minority Leader Gerald Hocker, and House Minority Leader Tim Dukes for their steadfast support that will also protect state revenue that will fund education, affordable housing, and infrastructure improvements across our state.”

Delaware is the corporate home to 2.2 million registered entities—more than twice the number of people in the state—and incorporated 81% of U.S. IPOs last year. The corporate franchise represents more than one-third of the Delaware state budget at roughly $2.2 billion. Senate Bill 21 enhances the clarity of the rules for corporate decision-making by codifying the process for independent decisionmakers to approve conflict transactions, a key request from business leaders. It also codifies a balanced framework for stockholder access to corporate books and records.

The bill passed with bipartisan backing in the House and Senate.

For any questions or to schedule a one-on-one interview with Governor Meyer, please email mila.myles@delaware.gov.

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Keep up to date by receiving a daily digest email, around noon, of current news release posts from state agencies on news.delaware.gov.

Here you can subscribe to future news updates.

Listen

Governor Matt Meyer's Logo

DOVER — Tonight, Governor Matt Meyer signed Senate Bill 21 into law, thanking lawmakers for the swift passage of this critical update to Delaware’s corporate law, aimed at ensuring the state remains the premier home for U.S. and global businesses. The legislation, developed in collaboration with corporate leaders and legal experts, clarifies key governance structures to reinforce Delaware’s reputation for equitable, predictable, and efficient corporate oversight.

“Delaware is the best place in the world to incorporate your business, and Senate Bill 21 will help keep it that way, ensuring clarity and predictability, balancing the interests of stockholders and corporate boards,” said Governor Matt Meyer. “I want to thank Secretary of State Patibanda-Sanchez, Lieutenant Governor Kyle Evans-Gay, Senator Bryan Townsend, House Speaker Melissa Minor-Brown, Representative Krista Griffith, Senate Minority Leader Gerald Hocker, and House Minority Leader Tim Dukes for their steadfast support that will also protect state revenue that will fund education, affordable housing, and infrastructure improvements across our state.”

Delaware is the corporate home to 2.2 million registered entities—more than twice the number of people in the state—and incorporated 81% of U.S. IPOs last year. The corporate franchise represents more than one-third of the Delaware state budget at roughly $2.2 billion. Senate Bill 21 enhances the clarity of the rules for corporate decision-making by codifying the process for independent decisionmakers to approve conflict transactions, a key request from business leaders. It also codifies a balanced framework for stockholder access to corporate books and records.

The bill passed with bipartisan backing in the House and Senate.

For any questions or to schedule a one-on-one interview with Governor Meyer, please email mila.myles@delaware.gov.

###

Graphic that represents delaware news on a mobile phone

Keep up to date by receiving a daily digest email, around noon, of current news release posts from state agencies on news.delaware.gov.

Here you can subscribe to future news updates.

 

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