The bill did not go through the normal procedures for legislation that seeks to change Delaware corporate law, according to Boston College corporate law professor Brian JM Quinn. For decades, such legislation has been drafted, debated and reviewed by the Delaware State Bar Association's Corporation Law Council before it goes to the legislature, he said. The council, which includes attorneys with a wide range of clients and interests, was not consulted on this bill before it was filed, Quinn said.
After CNBC published this story, Delaware Secretary of State Charuni Patibanda-Sanchez said in an e-mailed statement that Meyer has requested a review of the proposed legislation and "looks forward to viewing a final product that meets the evolving needs of all our stakeholders."