Corporate Overhaul Clears Key Committee, Heads for Final Test

A major Delaware corporate law overhaul linked to Elon Musk advanced toward its final test Wednesday, clearing a key committee and heading to the floor of the state legislature’s lower chamber, which could vote as soon as Thursday.

State Senate Bill 21 passed the House of Representatives Judiciary Committee by a 9-2 vote after a hearing that saw testimony from several supporters, one opponent, and members of the public who mostly spoke against the legislation.

SB21 would lower judge-made guardrails around insider deals, restrict investor access to the texts and emails of board members, and strengthen a presumption they’re independent ...