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The Onion makes joke about the Delaware General Corporation Law

November 30th, 2012

The Delaware General Corporation Law of 1899, with ancient mystical notations

I’m kind of late in noticing this but I just found this article. In 2010, satirical newspaper The Onion published 20,000 Sacrificed In Annual Blood Offering To Corporate America, which includes this reference to the Delaware General Corporation Law: “A joyful noise filled the hall as the priest pulled the first virgin’s heart from her chest and recited the ancient, mystical section 102(a)(3) of the Delaware General Corporation Law.”

Like much of the Onion it’s only mildly amusing, but whoever wrote that actually read the Delaware General Corporation Law. Section 102(a)(3) is “The nature of the business or purposes to be conducted or promoted. It shall be sufficient to state, either alone or with other businesses or purposes, that the purpose of the corporation is to engage in any lawful act or activity for which corporations may be organized under the General Corporation Law of Delaware, and by such statement all lawful acts and activities shall be within the purposes of the corporation, except for express limitations, if any;”

If you were going to intone a section of the Delaware General Corporation Law, which one would you pick? I think I’d go with section 397 “Whoever prints or publishes this chapter without the authority of the Secretary of State of this State, shall be fined not more than $500 or imprisoned not more than 3 months, or both.”

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