DE SB114

Modifies stock issuance rules to allow boards of directors to delegate authority to issue stock with specified minimum consideration amounts, maximum share limits, and time periods (§ 152).

Permits treasury shares to be disposed of for consideration with value greater than, less than, or equal to par value, including cash, property, or benefits to the corporation (§ 153).

Expands rights and options issuance authority to allow board delegation for determining consideration and exercise terms within specified parameters (§ 157).

Allows corporations to resell treasury shares under modified procedures and clarifies defective corporate act ratification processes, including stockholder notice and approval requirements (§§ 160, 204).

Updates conversion, merger, and domestication provisions to establish plan-based procedures and extends appraisal rights to transfers, domestications, and continuances of corporations, with operative dates primarily August 1, 2023.