DE SB71

Clarifies and confirms distinctions between domestic and foreign limited partnerships throughout the Delaware Revised Uniform Limited Partnership Act, including definitions, registered agent requirements, and service of process provisions.

Confirms that a certificate of limited partnership substantially complies with requirements if it contains the registered agent's name and office address, even without express designation.

Expands definitions of entities that can merge with, convert to, or be converted into limited partnerships to include any incorporated or unincorporated business entity (including foreign limited partnerships and limited liability companies).

Clarifies that limited partners may hold any type of interest in a general partner without participating in control of the partnership, and confirms general partners' broad authority to delegate management rights and duties.

Effective date: August 1, 2017.