Maxwell Discusses the 2022 Amendments to the Delaware LLC and Partnership Statutes

The Delaware Limited Liability Company Act, 6 Del. C. § 18-101 et seq. (the “LLC Act”), the Delaware Revised Uniform Limited Partnership Act, 6 Del. C. § 17-101 et seq. (the “LP Act”), and the Delaware Revised Uniform Partnership Act, 6 Del. C. § 15-101 et seq. (the “Partnership Act” and together with the LLC Act and the LP Act, each, an “Act,” and, collectively, the “Acts”), have been amended in 2022. Among the provisions of the Acts that have been amended are those concerning the definition of the applicable governing agreement (i.e., limited liability company agreement or partnership agreement), permitted methods of document execution, the timing of approvals for domestications and conversions, and the effect of filing a certificate of revival of a limited liability company or a limited partnership on a series of such limited liability company or limited partnership. The amendments became effective on August 1, 2022.

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