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May A Board Give All The Corporate Assets To Charity? Thursday, May 13, 2021 Yesterday, I listed to a talk by Vice Chancellor J. Travis Laster of the Delaware Court of Chancery entitled Purpose, Power, and Fiduciary Duty: Dimensions of Delaware s Corporate Law Regime .  The webinar was presented by the University of Delaware s John L. Weinberg Center for Corporate Governance.  Vice Chancellor Laster took a very deferential view of a board s decisions to donate corporate assets - applying a standard of rationality, not reasonableness.  Notably, he did not reference the statutory authority for corporate giving - Section 122(9) of the Delaware General Corporation Law provides that a Delaware corporation has the power to [m]ake donations for the public welfare or for charitable, scientific or educational purposes, and in time of war or other national emergency in aid thereof .   He also did not apply the doctrine of corporate waste to his analysis, although he did

United statesUniversity of delawareJohnl weinberg centerCorporation lawJ travis laster of the delaware courtVice chancellorDelaware courtFiduciary dutyCorporate lawVice chancellor lasterDelaware general corporation lawGeneral corporationCalifornia general corporation lawCalifornia voidable transactionsஒன்றுபட்டது மாநிலங்களில்பல்கலைக்கழகம் ஆஃப் டெலாவேர்