Delaware's decision to amend Section 102b7 to permit the exculpation of certain officers for direct but not derivative stockholder suits for monetary damages for breach of fiduciary duty is attracting a great deal of attention. The idea of exculpating officers is not new.
The private corporation laws of both California and Nevada both authorize the formation of committees. California requires that committee of board consist of at least two directors while Nevada's statute requires that a committee include at least one director.
The private corporation laws of both California and Nevada both authorize the formation of committees. California requires that committee of board consist of at least two directors while Nevada's statute requires that a committee include at least one director.