On June 19th, 2019, Delaware Governor John Carney signed a series of bills into law that amended the Delaware General Corporation Law (DGCL), the Delaware Limited Liability Company Act (DLLCA), the Delaware Revised Uniform Limited Partnership Act (DRULPA) and the Delaware Revised Uniform Partnership Act (DRUPA). These amendments, along with amendments enacted last summer, become effective on August 1st, 2019.
Of particular interest have been changes regarding the use of electronic documentation for certain acts and transactions, electronic signature of some documents and electronic delivery of certain stockholder notices, as well as permission for limited partnerships to form registered series, an option introduced for LLCs in 2018, and effective for LPs and LLCs in 2019.
Please review the following summaries for highlights of what will be taking effect on August 1st.
- Delaware General Corporation Law (SB 88)
- Delaware Limited Liability Company Act (SB 91, SB 183)
- Delaware Revised Uniform Limited Partnership Act (SB 89)
- Delaware Revised Uniform Partnership Act (SB 90)
This content is provided for informational purposes only and should not be considered, or relied upon, as legal advice.