SB88 Summary

• Permits notice of corporate meetings and actions to be given or documented by electronic transmission (email, electronic mail) in addition to written/mailed notices, modernizing Delaware corporate communication requirements

• Establishes safe harbor provisions in new Section 116 allowing corporate acts, agreements, and documents to be documented, signed, and delivered through electronic means (such as DocuSign) without limiting other statutory requirements

• Allows registered agents to resign for void corporations under Section 510 and requires inclusion of communications contact information in resignation certificates

• Permits demands for appraisal rights and stockholder consents in merger/consolidation proceedings to be delivered by electronic transmission when corporations designate an information processing system for receipt

• Increases Secretary of State filing fees and franchise tax rates, including higher fees for online certificates and increased minimum tax for regulated investment companies effective January 1, 2019; most electronic transaction amendments effective August 1, 2019