Delaware Antitrust Disclosure Compliance Memorandum

State:
Multi-State
Control #:
US-TC0308
Format:
Word; 
PDF; 
Rich Text
Instant download

Description

This memornadum addresses two antitrust concerns that should be noted by emerging companies: Avoiding the creation of documents that might invite antitrust problems, and avoiding premerger coordination of commercial activities and uncontrolled exchange of compettitively sensitive information.

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FAQ

A meeting between board of directors or committee members is not always convenient, and occasionally there are complex or time-sensitive matters that come up between regular meetings. Therefore, Section 141(f) was drafted so that board members could conduct business without holding an in-person meeting.

If a member who is an individual dies or a court of competent jurisdiction adjudges the member to be incompetent to manage the member's person or property, the member's personal representative may exercise all of the member's rights for the purpose of settling the member's estate or administering the member's property, ...

Section 18-217 allows a domestic Delaware limited liability company (LLC) to divide itself into two or more domestic LLCs and to allocate the assets and liabilities of the dividing LLC (the ?dividing company?) among itself (if the dividing company survives the division) and the newly formed LLCs (the ?resulting ...

§ 18-215. Series of members, managers, limited liability company interests or assets. (a) A limited liability company agreement may establish or provide for the establishment of 1 or more designated series of members, managers, limited liability company interests or assets.

Section 145 - Indemnification of officers, directors, employees and agents; insurance (a) A corporation shall have power to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or ...

Section 228 rules that unless otherwise described in a company's certificate of incorporation, shareholders have the right to proceed with any action that would typically be done at a meeting of shareholders, but are not required to have a meeting, give prior notice or hold a vote.

Except as otherwise provided in a limited liability company agreement, any event under this chapter or a limited liability company agreement that causes a member to cease to be associated with a protected series shall not, in itself, cause such member to cease to be associated with any other series or terminate the ...

(c) Unless otherwise agreed, a member who receives a distribution from a limited liability company shall have no liability under this chapter or other applicable law for the amount of the distribution after the expiration of 3 years from the date of the distribution unless an action to recover the distribution from ...

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Delaware Antitrust Disclosure Compliance Memorandum