Morrison & Foerster summarized proposed amendments to the DGCL that would make it easier for companies to convert a conventional corporation into a public benefit corporation (PBC) or convert a PBC into a conventional corporation and make PBCs more attractive from a potential liability standpoint than is the case under current law. Among other changes, the proposal - which awaits the governor's signature - would lower from two-thirds to a majority the stockholder vote required for amendments to a certificate of incorporation to effect the conversion.
See the synopsis of the proposed DGCL amendments here; our recent report: "Benefit Corporations Explained & Timely Revisited"; and additional information & resources on our Benefit Corporations page. This post first appeared in the weekly Society Alert!