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DE HB342
Bill
Status
7/16/2020
Primary Sponsor
Sean Lynn
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AI Summary
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Clarifies partnership naming requirements and allows foreign limited liability partnerships and foreign limited partnerships to serve as registered agents for partnerships in Delaware
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Eliminates the requirement for the Secretary of State to issue certified copies when registered agents file certificates changing their address or name, and removes the requirement to issue certificates when registered agents resign and appoint successors
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Confirms that no appraisal rights are available for partnership interests in connection with mergers, conversions, transfers, or asset sales unless specifically provided in the partnership agreement or merger documents
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Allows partnerships to maintain books, records, and other information in electronic form (including distributed databases) rather than paper, provided the information can be converted to paper form within a reasonable time
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Requires foreign limited liability partnerships registering in Delaware to have names that comply with Delaware's naming requirements, in addition to meeting their home jurisdiction's requirements
Legislative Description
An Act To Amend Chapter 15, Title 6 Of The Delaware Code Relating To The Creation, Regulation, Operation And Dissolution Of Domestic Partnerships And The Registration And Regulation Of Foreign Limited Liability Partnerships.
Last Action
Signed by Governor
7/16/2020