HB 339

Abstract

This Act continues the practice of amending periodically the Delaware Revised Uniform Partnership Act (the “GP Act”) to keep it current and to maintain its national preeminence. The following is a section-by-section review of the proposed amendments to the GP Act: Section 1 amends § 15-902 of the GP Act to permit a certificate of merger or a certificate of ownership and merger to state any amendments to the statement of partnership existence of a surviving domestic partnership in a merger (and in the case of a surviving domestic partnership that is a limited liability partnership, to the statement of qualification of such surviving domestic partnership) as are desired to be effected by the merger. This section also amends § 15-902 of the GP Act to require a domestic partnership that is causing a merger under § 15-902(m) of the GP Act to file a statement of partnership existence (if it has not already filed a statement of partnership existence). Section 2 provides that the amendments to the GP Act take effect on August 1, 2024. This Act requires a greater than majority vote for passage because § 11 of Article VIII of the Delaware Constitution requires the affirmative vote of three-fifths of the members elected to each house of the General Assembly to impose or levy a tax or license fee.