Delaware Supreme Court Holds “Quasi-California Corporation” Statute Violates Delaware’s Internal Affairs Doctrine
The Delaware Supreme Court recently held that privately-held corporations incorporated in Delaware are not subject to Section 2115 of the California Corporations Code, which requires non-California corporations with substantial California contacts to adhere to certain California corporate law requirements. This “quasi-California corporation” statute, the Court found, violates Delaware’s internal affairs doctrine and the U.S. Constitution. […]