Richards Layton & Finger

2014 Amendments to Delaware's Alternative Entities Legislation

August 2014

The Delaware General Assembly recently enacted legislation amending the Delaware Limited Liability Company Act (LLC Act), the Delaware Revised Uniform Limited Partnership Act (LP Act) and the Delaware Revised Uniform Partnership Act (GP Act and collectively with the LLC Act and the LP Act, the Alternative Entity Acts). The following is a brief summary of some of the more significant amendments that affect Delaware limited liability companies (Delaware LLCs), Delaware limited partnerships (Delaware LPs) and Delaware general partnerships (Delaware GPs and collectively with Delaware LLCs and Delaware LPs, Alternative Entities).