Delaware HB352 amends the Delaware Limited Liability Company Act to clarify the definition of a "Certificate of registered series.
Delaware HB352 amends Title 6 of the Delaware Code by clarifying the definition of a "Certificate of registered series" within the Delaware Limited Liability Company Act. The bill specifies that a limited liability company agreement may establish one or more designated series of members, managers, limited liability company interests, or assets. These series can have separate rights, powers, duties, business purposes, or investment objectives. The bill also ensures that the principle of freedom of contract applies to the establishment of series that are neither protected nor registered.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.