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DE SB182

Bill

Status

Passed

7/23/2018

Primary Sponsor

Bryan Townsend

Click for details

Origin

Senate

149th General Assembly

AI Summary

  • Requires limited partnership names to be distinguishable from registered series of limited liability companies formed under Delaware law, in addition to existing requirements for distinction from corporations, partnerships, and other business entities

  • Authorizes Delaware limited partnerships to use blockchain technology and distributed ledger systems for creating and maintaining partnership records and for electronic transmissions

  • Clarifies that filing a corrected certificate with the Secretary of State requires payment of the certificate of correction fee prescribed by § 17-1107, rather than the fee for the original certificate being corrected

  • Allows limited partners and general partners to participate in meetings via electronic communications equipment and to vote by electronic transmission, including through electronic networks and databases

  • Sets staggered effective dates: blockchain/electronic records provisions (Sections 2-6) effective August 1, 2018; naming requirements related to registered series (Section 1) effective August 1, 2019

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

7/23/2018

Committee Referrals

Judiciary6/6/2018
Banking, Business & Insurance4/26/2018

Full Bill Text

No bill text available