SB 21 was introduced to Delaware's General Assembly on Feb. 17, by Senate Majority Leader Bryan Townsend, who had attended the first of the two meetings held by Meyer. The process of drafting the bill didn't follow Delaware's traditional practice of changing corporate law, which typically involves writing and review by the state's bar association, and a committee within it called the Corporation Law Council.
Reforms outlined in SB 21 have been supported by corporate defense firms and attorneys, including those who helped draft the bill. They've been vociferously opposed by shareholders' attorneys and investment groups, including CalPERS and ICGN, who say they want to ensure that controlling shareholders don't make self-interested deals or decisions that go against the wishes and rights of the broader investor base.