Delaware Release and Assignment of Right of Reassignment
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How to fill out Release And Assignment Of Right Of Reassignment?
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FAQ
§ 217. Voting rights of fiduciaries, pledgors and joint owners of stock. (a) Persons holding stock in a fiduciary capacity shall be entitled to vote the shares so held.
Some courts have held that a transfer of approximately two-thirds in value of the assets, or 68 percent or even 75 percent of all the corporate property, is not "substantially all." Other courts have held that 85.2 percent or even 90 percent, which included all property except cash, is substantially all.
§ 276. Dissolution of nonstock corporation; procedure. (a) Whenever it shall be desired to dissolve any nonstock corporation, the governing body shall perform all the acts necessary for dissolution which are required by § 275 of this title to be performed by the board of directors of a corporation having capital stock.
§§ 2-210. Delegation of performance; assignment of rights. (1) A party may perform his or her duty through a delegate unless otherwise agreed or unless the other party has a substantial interest in having his or her original promisor perform or control the acts required by the contract.
§ 272. Mortgage or pledge of assets. (a) The authorization or consent of stockholders to the mortgage or pledge of a corporation's property and assets shall not be necessary, except to the extent that the certificate of incorporation otherwise provides.
(a) Every corporation may at any meeting of its board of directors or governing body sell, lease or exchange all or substantially all of its property and assets, including its goodwill and its corporate franchises, upon such terms and conditions and for such consideration, which may consist in whole or in part of money ...
Corporate law centers around the provision of 8 DEL. C. § 271, requiring the approval of a majority of the outstanding voting stock of a corporation, whenever it intends to sell, lease or exchange "all or substantially all" of its assets.
In Delaware, the assignment agreement is the main document in which the assignor assigns its property to the assignee in trust for the assignor's creditors. The Delaware Code does not have a prescribed form of an assignment agreement, so general principles of contract and trust law apply.
