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DE HB367
Bill
Status
6/22/2016
Primary Sponsor
Melanie Smith
Click for details
AI Summary
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Establishes a method for serving legal process upon a series of a limited partnership, requiring the process to include both the limited partnership name and the series name when served through a registered agent or the Secretary of State
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Clarifies that series within a limited partnership may voluntarily agree to be liable for debts of the general partnership or other series, and vice versa, despite statutory liability limitations
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Removes requirements for "written" consent throughout the statute, allowing partners to consent to various actions (admitting general partners, dissolution, revocation of dissolution, etc.) by means other than writing
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Eliminates the word "affirmative" before "vote" throughout the statute as unnecessary
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Confirms that provisions governing how limited partners and general partners may vote, consent to, or approve matters are enabling provisions not intended to restrict available methods of approval
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Effective date: August 1, 2016
Legislative Description
An Act To Amend Chapter 17, Title 6 Of The Delaware Code Relating To The Creation, Regulation, Operation And Dissolution Of Domestic Limited Partnerships And The Registration And Regulation Of Foreign Limited Partnerships.
Last Action
Signed by Governor
6/22/2016