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Hicks Johnson

Changes in Corporate Governance Under SB 29: What In-House Counsel Should Know

Hicks Johnson on

On May 14, 2025, Texas Governor Greg Abbott signed Texas Senate Bill 29 (SB 29) into law. The bill, which became effective immediately, overhauls the Texas Business Organizations Code (TBOC) to provide greater certainty in...more

Seyfarth Shaw LLP

Texas Adopts Business-Friendly Amendments to Its Corporate Code—A Response to Delaware?

Seyfarth Shaw LLP on

As states compete to become the preferred jurisdiction for incorporation, Texas has taken a bold step with significant amendments to its Texas Business Organizations Code. Following Delaware’s recent pro-management...more

Akin Gump Strauss Hauer & Feld LLP

Texas Enacts New Pro-Business Law to Expand Its Appeal as a Hub for Business Incorporations

On May 14, 2025, Gov. Greg Abbott (R-TX) signed Texas Senate Bill 29 (SB29) into law. This legislation introduces notable amendments to the Texas Business Organizations Code (TBOC) and is part of a broader strategy to...more

Allen Matkins

Delaware LLCs - "I See Trouble On the Way"

Allen Matkins on

Delaware had barely birthed changes to Section 144 of its General Corporation Law when the Plumbers & Fitters Local 295 Pension Fund filed a complaint challenging those changes.  The plaintiff seeks a declaration that the...more

White and Williams LLP

Delaware Passes Senate Bill 21, Altering the Balance Between Shareholders and Corporations

White and Williams LLP on

On Tuesday evening, following two hours of debate and five failed amendments, bipartisan Senate Bill 21 (“SB 21”) passed the Delaware House and was quickly signed by Delaware Governor Matt Meyer. SB 21, which, in part, was a...more

Sheppard Mullin Richter & Hampton LLP

Amendment to China’s Company Law (1): Contribution of Capital and Authorized Capital Concept

China’s Company Law was initially enacted in 1993, and was subsequently amended in 1999, 2004, 2013, 2018, and 2005. On December 29, 2023, the Standing Committee of the National People’s Congress approved a comprehensive...more

Sullivan & Worcester

Key Changes in China's Company Law which is Reshaping the Business Landscape for Foreign Investors, including Retroactive...

Sullivan & Worcester on

The amended Company Law of the People's Republic of China (“the New Company Law”) was adopted by the National People's Congress of China and published on December 29, 2023, effective on July 1, 2024. This new legislation...more

Brownstein Hyatt Farber Schreck

Republican AGs Set Sights on Corporate DEI After Affirmative Action Decision

Last week, 13 Republican state attorneys general published a letter to the largest companies in the country, creating confusion, uncertainty and risk for businesses that have sought to adopt diversity, equity and inclusion...more

Allen Matkins

Bill Would Allow Shareholders To Phone It In

Allen Matkins on

Currently, the California Corporations Code prohibits a California corporation from conducting a meeting of shareholders solely by electronic transmission by and to the corporation, electronic video screen communication,...more

Wilson Sonsini Goodrich & Rosati

California Adopts Ratification and Verification Statute for Corporations

Throughout the life cycle of a company, and especially during the leaner early start-up stages, corporate actions that are defective due to failures to obtain the correct board or shareholder votes, errors in the approval...more

CDF Labor Law LLP

Los Angeles County Trial Court Strikes Down Another California Board Diversity Law

CDF Labor Law LLP on

Last month, on May 13, Los Angeles County Superior Court Judge Maureen Duffy-Lewis ruled that SB 826, which requires publicly held California corporations with a principal executive office in California to follow gender...more

Nelson Mullins Riley & Scarborough LLP

UPDATE: California Court Says Second State Board Diversity Law Is Unconstitutional

California courts have now struck down the second of the state’s two board diversity laws as unconstitutional.  The recent decision affects California's gender diversity requirement for certain boards of directors.  In April,...more

Mayer Brown Free Writings + Perspectives

California Board Diversity Laws Struck Down by Court

In a little over a month’s time, the Superior Court of California (the “Superior Court”) struck down both AB 979 and SB 826, California’s two board diversity statutes. SB 826 required that a public company whose principal...more

Allen Matkins

Bill Would Require Passively-Managed Funds To Vote Proxies As Instructed By Investors

Allen Matkins on

Last week, U.S Senator Dan Sullivan introduced a bill to require passively managed funds to vote proxies as instructed by their investors.  I have not seen a copy of the bill yet, but according to the Senator's press release,...more

Littler

Corporate Board Diversity: Next Steps for Employers After Court Strikes Down California Board Diversity Law

Littler on

On April 1, 2022, a Los Angeles County Superior Court ruled that California Assembly Bill 979—a bill designed to increase diversity and improve the persistently low number of underrepresented groups on corporate...more

Nelson Mullins Riley & Scarborough LLP

California Court Rules State Board Diversity Requirement Unconstitutional — Where Do We Go From Here?

Earlier this month, a Los Angeles County Superior Court order put the brakes on one of California’s much contested board diversity requirements, a decision certain to reverberate among the business community and efforts to...more

CDF Labor Law LLP

Judge Holds CA BOD Diversity Law Violates Equal Protection Laws

CDF Labor Law LLP on

On April 1, 2022, a Los Angeles County judge ruled that AB 979, which requires publicly held corporations with a principal executive office in California to have at least one member of the Board of Directors from an...more

Proskauer - California Employment Law

Court Declares California Law Requiring Diverse Corporate Boards Unconstitutional

As discussed in our previous blog, on April 1, 2022, Los Angeles Superior Court Judge, Terry Green, granted summary judgment in favor of individuals represented by D.C.-based nonprofit Judicial Watch, declaring Assembly Bill...more

Cadwalader, Wickersham & Taft LLP

California’s Board Diversity Law Tossed by Judge; Other Board Diversity Efforts Continue

On April 1, 2022, Judge Terry Green of the Los Angeles Superior Court struck down California’s AB 979, which required publicly held companies based in California to have at least one board director from an “underrepresented...more

Hinshaw & Culbertson - Employment Law...

The 12 Days of California Labor & Employment Series – Day 3: Racial and Ethnic Diversity at the Forefront for California-Based...

In the spirit of the season—and keeping some semblance of normal—we are using our annual "12 days of the holidays" blog series to address new California laws and their impact on California employers. On this third day of the...more

Jones Day

California Mandates Representation of Underrepresented Communities on Boards of Public Corporations

Jones Day on

The Situation: California's governor recently signed into effect a new law requiring public corporations whose principal executive offices are located in California to have a certain minimum number of individuals from...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

New California Law Requires Diversity on Corporate Boards of Directors

On September 30, 2020, Governor Gavin Newsom signed into law Senate Bill (SB) 979, a measure that will require publicly held corporations in California to achieve diversity on their boards of directors by January 2023. ...more

Goodwin

New California Law Will Require Increased Diversity On Public Boards

Goodwin on

On September 30, 2020, California Governor Gavin Newsom signed Assembly Bill 979 (AB-979) into law, which will require every public company with securities listed on a major U.S. stock exchange and that has its principal...more

Gray Reed

California’s Push For Diverse Corporate Boards

Gray Reed on

California Assembly Bill 929 (the “Diversity Bill”), which was passed by the California State Legislature on August 30, 2020, and signed into law by California Governor Gavin Newsom on September 30, 2020, requires domestic...more

Morgan Lewis

California Expands Diversity Requirements for Public Company Boards

Morgan Lewis on

California Governor Gavin Newsom on September 30 signed into law Assembly Bill No. 979, which requires publicly held companies headquartered in California to have a minimum number of directors from “underrepresented...more

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