Redomiciling & the Rise of Y’all Street: What Directors Need to Know
Archive
NACD Texas TriCities
Contact Us
Email:
programs@texastricities.nacdonline.org
Phone:
346-250-2802
Jenn Cox
Executive Director
Mya Risner
Director of Marketing, Partnerships & Engagement
Chennya Lister
Chapter Administrator
Find a Chapter
About The Event
In Person | January 29, 2026 | 4:00 PM - 6:00 PM CST | Austin, TX
On January 29, 2026, directors and governance leaders convened in Austin to examine the strategic implications of corporate redomiciliation as businesses increasingly reconsider Delaware's longstanding dominance. The panel—featuring Travis Wofford (Baker Botts), Chief Justice Scott Brister (15th Court of Appeals), and Allen Gelwick (Lockton)—provided expert perspectives on the legal, governance, and market dynamics reshaping the corporate incorporation landscape.
Participants explored how Texas's new business court system, pro-growth regulatory environment, and expanding capital ecosystem—often called "Y'all Street"—are creating a compelling alternative to Delaware. The discussion traced the historical parallels to Delaware's rise a century ago when New Jersey's corporate dominance eroded due to increased litigation uncertainty, and examined whether Texas is positioned to offer the certainty and efficiency that modern businesses demand.
The session equipped directors with frameworks for evaluating whether redomiciliation aligns with their organizations' strategic objectives, including critical considerations around litigation costs, D&O insurance implications, and regulatory stability. Whether actively exploring redomiciliation or monitoring the trend, attendees gained strategic intelligence necessary for informed board decision-making in this evolving governance landscape.
Key Takeaways
Why This Matters Now
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Delaware wasn't always dominant—a century ago, New Jersey held that position until litigation uncertainty drove businesses away
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Recent Delaware cases (Blue Bell, Tesla/Musk) have introduced unpredictability: a 9-share holder successfully challenged a $56B pay package twice
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Texas is positioning itself as the alternative, similar to Delaware's rise 100 years ago
What Texas Offers
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Specialized business courts with judges dedicated exclusively to complex corporate matters
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15th Court of Appeals handles business court appeals with statewide jurisdiction, ensuring expertise at the appellate level
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Speed and efficiency: Goal is resolution "without spending a million dollars and five years"
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Clearer statutory framework: Modernized Business Organizations Code provides better certainty for director decisions
The Business Case
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D&O insurance: Some companies cannot obtain coverage in Delaware due to venue risk; insurers are pricing based on jurisdiction
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Major companies moving: Oracle, Chevron, McKesson have relocated headquarters; Elon Musk and Andreessen Horowitz publicly committed to avoiding Delaware
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Operational alignment: Many companies already operate in Texas—redomiciling aligns legal jurisdiction with business reality
What Texas Is NOT
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Not eliminating accountability or creating a "Wild West" for corporations
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Goal is certainty and efficiency, not anarchy
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Unlike Delaware (where law is the biggest business), Texas wants business itself to be the biggest business
Critical Considerations
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Check your charter: If incorporated in Delaware, you likely have exclusive forum provisions requiring disputes be heard there
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Early innings: Texas business courts established in 2023; case law still developing
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Political stability: Texas has been solidly red for 30 years; migration patterns support pro-business continuity
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By 2050: Texas projected to be largest U.S. state with 50 million people
What Boards Should Do
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Review current incorporation jurisdiction and charter provisions
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Assess D&O insurance costs and litigation exposure in current vs. alternative jurisdictions
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Monitor peer companies' redomiciliation decisions and rationale
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Engage legal, insurance, and governance advisors on strategic fit
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Recognize this is a "once in a century opportunity" similar to the New Jersey-to-Delaware shift
Program Video
Program Resources
NACD: Texas Rewrites the Corporate Landscape
NACD TTC & BAKER BOTTS: Understanding DEXIT: What Board Directors Need to Know About Texas Redomiciliation
LOCKTON: SEC’s new stance on mandatory arbitration alters risk landscape for companies going public
Panelists
Chief Justice Scott Brister
Allen Gelwick
Travis Wofford
NACD Texas TriCities
Contact Us
Email:
programs@texastricities.nacdonline.org
Phone:
346-250-2802
Jenn Cox
Executive Director
Mya Risner
Director of Marketing, Partnerships & Engagement
Chennya Lister
Chapter Administrator
Find a Chapter
By registering for an NACD or NACD Chapter Network event, you agree to the following Code of Conduct.
| NACD and the NACD Chapter Network organizations (NACD) are non-partisan, nonprofit organizations dedicated to providing directors with the opportunity to discuss timely governance oversight practices. The views of the speakers and audience are their own and do not necessarily reflect the views of NACD. |