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CALIFORNIA CORPORATE & SECURITIES LAW

Is Section 141(d) Truly Oxymoronic?

Section 141(d) of the Delaware General Corporation Law provides that the directors of any corporation may “be divided into 1, 2, or 3 classes”.  It’s hard to make sense of this statement.  First, I don’t believe that Delaware legislature meant to provide that individual directors may be cut up into pieces.  A more accurate statement…

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