Delaware Debates Corporate Law Change
This is a Delaware news story, published by CNBC, that relates primarily to Elon Musk news.
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Delaware legislatureCNBC
•US Politics
US Politics
Meta's potential exit from Delaware had governor worried enough to call special weekend meetings
84% Informative
Delaware lawmakers are debating a bill that would change the state's corporate law after Tesla CEO Elon Musk reincorporated his companies elsewhere.
Delaware has long been the dominant state for U.S. companies to incorporate due to its flexible corporate code and expert judiciary.
If SB 21 passes, any claims filed after Feb. 17 , the day the bill was brought to the assembly, would be considered under the new law.
SB 21 was introduced to Delaware 's General Assembly on Feb. 17 , by Senate Majority Leader Bryan Townsend .
Meta hasn't publicly commented on whether it plans to reincorporate outside of the state.
Reforms outlined in SB 21 have been supported by corporate defense firms and attorneys, including those who helped draft the bill.
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