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DE HB123
Bill
Status
6/30/2013
Primary Sponsor
Rebecca Walker
Click for details
AI Summary
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Clarifies that a charging order is the exclusive remedy for judgment creditors seeking to collect from a partner's economic interest, explicitly prohibiting attachment, garnishment, foreclosure, or other legal remedies
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Amends provisions on domestication, transfer, continuance, and conversion to confirm that rights, securities, or interests in entities may remain outstanding during these transactions rather than requiring exchange, conversion, or cancellation
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Updates merger provisions to allow rights, securities, or interests in a constituent party that is the surviving entity to remain outstanding following the merger
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Effective date set for August 1, 2013
Legislative Description
An Act To Amend Title 6 Of The Delaware Code Relating To The Creation, Regulation, Operation And Dissolution Of Domestic Partnerships And The Registration And Regulation Of Foreign Limited Liability Partnerships.
Last Action
Signed by Governor
6/30/2013