Page 29 - Delaware Lawyer - Fall 2021

granting a charter to another corporation. Wilm- ington City Ry. Co. v. Wilmington & B. S. Ry. Co., 46 A. 12, 14–18 (Del. Ch. 1990); City of Wilmington v. Addicks, 47 A. 366, 369–70 (Del. Ch. 1900).
7. Laws of the State of Delaware, Vol. 15, Part 1 (1875) pp. 3–4; Sparks at 160; Larcom at 4.
8. Arsht at 4; Larcom at 4.
9. Arsht at 4–5.
10. Debates, pp. 843–44, 2100–01. Larkom at 4–7 & nn.13; Arsht at 4–5; Sparks at 159, 160–61.
11. Larkom at 2–3 & n.7.
12. Debates, pp. 690–92, 844–46.
13. Sparks at 161. Voted down were a defini- tion of “corporation”; requirements that 10%
of capital be cash and stockholders approve in- creases in stock and indebtedness; and liability of stockholders to creditors for unpaid capital when paid-in capital was insufficient. Debates, pp. 874–85, 2086–87, 2010-11, 2137–51;
14. Debates, pp. 690, 2086–87, 2097–2110. Arsht at 5–6.
15. Id. p. 2097; Arsht at 5–6.
16. See e.g., State v. Levy Ct., 43 A. 522 (Del. Super. 1899)(reformatory corporation excepted from Article IX Section 1); Masten v. State, 626 A.2d 838, 840 (Del. Super. 1991)(same). School districts are authorized under the Education Clause of Article X, Section 2 and, therefore, do not need to comply with Article IX, Section 1. In re School Code of 1919, 108 A. 39, 41 (Del. 1999); Delawareans for Educational Opportunity v. Car- ney, 199 A.3d 109, 151–52 (Del. Ch. 2018).
17. Debates, pp. 2097–2110.
18. The legislature retained authority to revoke charters both at common law and under Section 1. State v. Hancock, 45 A. 851, 859–60 (Del. Super. 1899); Morford v. Trustees of Middletown Acad., 13 A.2d 168, 170–71 (Del. Ch. 1940). 19. Debates, pp. 854–69; Sparks at 162.
20. Debates, pp. 873–74, 2010-11; Sparks at 162.
21. Sparks at 163.
22. Debates, pp. 886–902, 2121–37.
23.Id., pp. 2036–37.
24.Id., pp. 886–902, 2021–37; Larcom at 84–85.
25. Larcom at 86–87.
26.Sohland v. Baker, 141 A. 277, 284–86 (Del. 1927); Brown v. Fenimore, 1997 WL 2566, at *2 (Del. Ch. Jan. 11, 1977).
27. Prizm Grp., Inc. v. Anderson, 2010 WL 1850792, at *5 n.52 (Del. Ch. May 10, 2010). 28. Debates, pp. 2151–84; Verizon Delaware, Inc. v. Baldwin Line Construction Co., Inc., 2004 WL 838610, at *2 (Del. Super. April
13, 2004). See also Sparks at 163–64 (modern long-arm jurisdiction permits suits against for- eign corporations with no registered agent that do business in Delaware).
29. In re Vernon, 40 A. 60 (Del. Super. 1898). 30. Brooks v. State, 79 A. 790, 800–01 (Del. 1911); Morris v. Am. Pub. Utilities Co., 122 A. 696, 705 (Del. Ch. 1923); In re Farm Indus., Inc., 196 A.2d 582, 591 (Del. Ch. 1963); Provi- dence & Worcester Co. v. Baker, 378 A.2d 121,
123–24 (Del. 1977); Sagusa, Inc. v. Magellan Petroleum Corp., 1993 WL 512487, at *2 & n.5 (Del. Ch. Dec. 1, 1993).
31. Sparks at 164.
32. Arsht at 6; Larcom at 8–9.
33. Corporation Service Company, http:// www.incspot.com/public/csc_history.html. 34.Id. In 1920, the two companies were com- bined as Corporation Service Company. Id.
35. In re Powell, 58 A. 831 (Del. Super. 1904); Wilmington City Ry. Co. v. People’s Ry. Co., 47 A. 245, 247–54 (Del. Ch. 1900).
36. Larcom at 9–15; Arsht at 7.
37. Arsht at 7; Larcom at 16–26.
38. Arsht at 8–21.
39. Id.
40. Larcom at 10.
41. Robert B. Thompson, Delaware’s Domi- nance: A Peculiar Illustration of American Federalism, in The Next Hundred Years, in Can Delaware Be Dethroned?: Evaluating Dela- ware’s Dominance of Corporate Law (Stephen M. Bainbridge, Iman Anabtawi, Sung Hui Kim and James Park, eds., 2018) (“Dethroned”) pp. 57–77.
42. A. Gilchrist Sparks, III and Daniel D. Mat- thews, Delaware’s Continual Resilience: The Next Hundred Years, in Dethroned, pp. 238, 256–58.
43. William J. Moon, Delaware’s New Competi- tion, 114 NW L. Rev. 1403 (2020); Lynn M. LoPucki, Corporate Charter Competition, 102 Minn. L. Rev. 2101, 2156–68 (2018).
DELAWARE CRIMINAL DEFENSE
Patrick J. Collins
Top Lawyer Winner
in Criminal Defense since 2016
302.655.4600
collinslawdelaware.com
FALL 2021 DELAWARE LAWYER 27