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SEC Proposes to Expand Definition of “Accredited Investor”

The Securities and Exchange Commission (SEC) recently proposed amendments to the definition of “accredited investor,” one of the principal tests for determining the eligibility of investors to participate in various kinds of private securities offerings. The proposal looks to expand and update the definition to create a more effective method for identifying individual and institutional…

Delaware LLCs and Partnerships Permitted to Use Blockchain Technology for Corporate Governance

In July 2018, Delaware amended Delaware Limited Liability Company Act (DLLCA) and the Delaware General Corporation Law (DGCL) (collectively, the Acts) to provide for the use of blockchain technology in the governance of LLCs and corporations formed under Delaware law, among other changes. The amendments became effective August 1, 2018. The amendments to the DLLCA…

Delaware Endorses Blockchain With New Amendments to the DGCL

On July 21, 2017, the Delaware Governor enacted new legislation permitting corporations to use "distributed electronic networks or databases" – aka blockchain technology – for the maintenance of corporate records, including stock ledgers. Corporate governance issues are not readily apparent to the public, likely because such issues can be rectified internally before they…

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