This Amendment changes the enactment clause of Senate Bill No.

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

This Amendment changes the enactment clause of Senate Bill No.

This Amendment changes the enactment clause of Senate Bill No.

What This Bill Does

• This Amendment changes the enactment clause of Senate Bill No.
• 16 to a two-thirds vote because § 1 of Article IX of the Delaware Constitution requires the affirmative vote of two-thirds of the members elected to each house of the General Assembly to amend the general corporation law or enact any special act of incorporation.
• This Amendment also changes the effective date and implementation dates of the original bill.
• It establishes that Sections 1 through 4 and Sections 6 through 24 are effective immediately.

Limits and Unknowns

• This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Official Summary Text

This Amendment changes the enactment clause of Senate Bill No. 16 to a two-thirds vote because § 1 of Article IX of the Delaware Constitution requires the affirmative vote of two-thirds of the members elected to each house of the General Assembly to amend the general corporation law or enact any special act of incorporation.

This Amendment also changes the effective date and implementation dates of the original bill. It establishes that Sections 1 through 4 and Sections 6 through 24 are effective immediately. Section 5 is also effective immediately; however, it is to be implemented the earlier of the following: 1 year from the date of the Act's enactment or notice by the State Banking Commissioner that final regulations have been published and promulgated.

Current Bill Text

Legislation Document

SPONSOR:

Sen. Mantzavinos

DELAWARE STATE SENATE

153rd GENERAL ASSEMBLY

SENATE AMENDMENT NO. 1

TO

SENATE BILL NO. 16

AMEND Senate Bill No. 16 by inserting in the enactment clause after “DELAWARE” and before the colon the following: “(Two-thirds of all members elected to each house thereof concurring therein)”.

AMEND Senate Bill No. 16 by deleting Section 23 in its entirety and inserting in lieu thereof the following:

“Section 23. Sections 1 through 4 and Sections 6 through 24 of this Act are effective immediately.

Section 24. Section 5 of this Act is effective immediately and is to be implemented the earlier of the following:

(1) One year from the date of the Act’s enactment.

(2) Notice by the State Banking Commissioner published in the Register of Regulations that final regulations to implement this Act have been promulgated.”.

SYNOPSIS

This Amendment changes the enactment clause of Senate Bill No. 16 to a two-thirds vote because § 1 of Article IX of the Delaware Constitution requires the affirmative vote of two-thirds of the members elected to each house of the General Assembly to amend the general corporation law or enact any special act of incorporation.

This Amendment also changes the effective date and implementation dates of the original bill. It establishes that Sections 1 through 4 and Sections 6 through 24 are effective immediately. Section 5 is also effective immediately; however, it is to be implemented the earlier of the following: 1 year from the date of the Act's enactment or notice by the State Banking Commissioner that final regulations have been published and promulgated.

Author: Senator Mantzavinos