DE SB70

Clarifies the distinction between domestic partnerships and foreign partnerships in Delaware law, including conforming changes to naming requirements for foreign limited liability partnerships

Confirms and expands a partner's broad authority to delegate any or all rights, powers, and duties to manage and control partnership business affairs, including core governance functions, to agents, officers, employees, or other persons

Allows delegation by partners to be made irrevocable if explicitly stated as such, without causing the delegating partner to lose partner status

Updates definitions of "other entity," "other business entity," and "non-United States entity" throughout the partnership code to explicitly include "any incorporated or unincorporated business or entity"

Effective date of August 1, 2017