HB 124 (Chapter 73) amends Title 6, Chapter 17 of The Revised Uniform Limited Partnership Act. 

Highlights of the bill include:

  • Effective 8/1/14 – Section 17-104(d) is amended to clarify that a limited liability limited partnership’s statement of qualification is cancelled 30 days after a resignation of agent is filed.
  • Effective 8/1/14 – Section 17-214 (b) is amended to clarify that when applying the Chapter 15 to a limited liability limited partnership all references to a limited liability partnership shall be deemed references to a limited liability limited partnership, all references to a partnership shall be deemed references to a limited partnership and all references to foreign partnerships, foreign limited liability partnership or statements of foreign qualification shall be disregarded.
  • Effective 8/1/14 – Section 17-214 (k) is added to require the filing of a reinstatement when a statement of qualification of a limited liability limited partnership has been cancelled due to resignation or enjoinment.  When a limited liability limited partnership is cancelled due to an agent resignation they must submit two certificates to bring them back into good standing: one for the limited partnership and one for the limited liability limited partnership.

The bill text can be accessed at http://legis.delaware.gov/LIS/lis147.nsf/vwLegislation/HB+124/$file/legis.html?open.

Delaware – HB 124 (Chapter 73) amends the Revised Uniform Limited Partnership Act