DE SB77

Eliminates the default requirement for class or group votes on limited partnership actions including cancellations, mergers, consolidations, conversions, dissolutions, and series terminations; instead requires only majority vote of all limited partners.

Applies changes only to limited partnerships formed after July 31, 2015; partnerships with original certificates filed on or before July 31, 2015 retain the prior class or group voting requirements unless their partnership agreement provides otherwise.

Clarifies that provisions regarding irrevocable powers of attorney also apply to proxies and that general partner delegations of management rights are irrevocable if stated as such in the partnership agreement.

Removes microfiche copying as an option and limits Secretary of State's obligation to provide public records only as photocopies or electronic image copies for specified fees, not in other electronic formats or bulk data.

Makes amendments effective August 1, 2015, except the Secretary of State copying provision which becomes effective immediately upon enactment.