Loading chat...
DE HR9
Resolution
Status
5/9/2013
Primary Sponsor
Joseph Miro
Click for details
AI Summary
I notice there's a discrepancy between your request and the document provided. The document is House Bill No. 126 (not HR9), which amends Delaware's Limited Liability Company Act. Here's the summary:
-
Allows rights or securities of constituent parties in mergers, domestications, conversions, and continuances to remain outstanding rather than being required to be exchanged or cancelled.
-
Confirms that a charging order is the exclusive remedy for judgment creditors to satisfy judgments against a member's limited liability company interest, prohibiting attachment, garnishment, foreclosure, or other legal remedies regardless of whether the LLC has one or multiple members.
-
Applies all provisions of the Delaware Limited Liability Company Act whether a limited liability company has one member or more than one member.
-
Clarifies that fiduciary duties apply in cases not explicitly addressed in the limited liability company agreement, such as duties owed by managers in manager-managed LLCs.
-
Effective date: August 1, 2013.
Legislative Description
Respecting And Honoring All Delaware Mothers On May 12, 2013, Mother's Day.
Last Action
Passed in House by Voice Vote
5/9/2013