Delaware Limited Liability Company Act Amendments (SB 183)

• Creates "registered series" as new LLC structures formed by filing a certificate of registered series; registered series are associations with the same liability protections and merger/consolidation rights as existing protected series.

• Authorizes LLC divisions allowing a limited liability company to split into two or more new LLCs with assets, liabilities, and debts allocated among the resulting companies per a division plan.

• Enables conversion of protected series to registered series and vice versa, and permits registered series to merge or consolidate with other registered series of the same LLC.

• Establishes statutory public benefit limited liability companies intended to produce public benefits while balancing member pecuniary interests and impacts on affected stakeholders; requires 2/3 member approval for certain amendments and mergers.

• Updates filing fees, electronic record-keeping authority (including blockchain/distributed ledger use), service of process procedures, and tax provisions to accommodate registered series and division certificates; most provisions effective August 1, 2019 (with some sections effective August 1, 2018).