Delaware House Bill 124 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Slight Partisan Bill (Democrat 10-4)
Status: Passed on June 30 2013 - 100% progression
Action: 2013-06-30 - Signed by Governor
Text: Latest bill text (Draft #1) [HTML]

This bill continues the practice of amending periodically the Delaware Revised Uniform Limited Partnership Act (the "Act") to keep it current and to maintain its national preeminence. The following is a section-by-section review of the proposed amendments of the Act. Sections 1, 2 and 4 amend provisions of the Act relating to limited liability limited partnerships to confirm and clarify such provisions. Section 3 amends the provisions of the Act relating to mergers to confirm that rights or securities of, or interests in, a constituent party that is the surviving entity in a merger may remain outstanding in connection with the merger. Sections 5, 6, 7 and 8 amend the provisions of the Act relating to domestication, transfer, continuance and conversion to confirm that in connection with a domestication, transfer, continuance or conversion, rights or securities of, or interests in, an entity that is domesticating or converting to a limited partnership and rights or securities of, or interests in, a limited partnership that is transferring to or domesticating or continuing in another jurisdiction or converting to a different type of entity or another jurisdiction may remain outstanding in connection with such domestication, transfer, continuance or conversion. Section 9 amends 17-703(d) of the Act to confirm that a charging order is the sole and exclusive remedy by which a judgment creditor of a partner or a partner's assignee may satisfy a judgment out of the judgment debtor's partnership interest and that attachment, garnishment, foreclosure or other legal or equitable remedies are not available to the judgment creditor. Section 10 provides that Sections 1, 2 and 4 of the Act shall become effective April 1, 2014 and the other Sections shall become effective August 1, 2013.

An Act To Amend Title 6 Of The Delaware Code Relating To The Creation, Regulation, Operation And Dissolution Of Domestic Limited Partnerships And The Registration And Regulation Of Foreign Limited Partnerships.

Rep. Rebecca Walker [D]	Rep. Melanie Smith [D]	Sen. Margaret Henry [D]	Sen. Bryan Townsend [D]
Rep. Gerald Brady [D]	Rep. James Johnson [D]	Rep. John Mitchell [D]	Sen. Charles Paradee [D]
Rep. Charles Potter [D]	Rep. Stephen Smyk [R]	Sen. David Wilson [R]	Sen. Gregory Lavelle [R]
Sen. Harris McDowell [D]	Sen. Gary Simpson [R]

2013-06-18 - Senate - Senate Third Reading (Y: 20 N: 0 NV: 0 Abs: 1) [PASS]
2013-06-04 - House - House Third Reading (Y: 41 N: 0 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2013-06-30	House	Signed by Governor
2013-06-18	Senate	Passed by Senate. Votes: Passed 20 YES 0 NO 0 NOT VOTING 1 ABSENT 0 VACANT
2013-06-12	Senate	Reported Out of Committee (JUDICIARY) in Senate with 4 On Its Merits
2013-06-04	Senate	Assigned to Judiciary Committee in Senate
2013-06-04	House	Passed by House of Representatives. Votes: Passed 41 YES 0 NO 0 NOT VOTING 0 ABSENT 0 VACANT
2013-05-15	House	Reported Out of Committee (JUDICIARY) in House with 4 Favorable, 7 On Its Merits
2013-05-08	House	Introduced and Assigned to Judiciary Committee in House

Type	Source
Summary	http://legis.delaware.gov/LIS/lis147.nsf/2bede841c6272c888025698400433a04/ca2f251190d7942285257b5f0055005e?OpenDocument
Text	http://legis.delaware.gov/LIS/lis147.nsf/vwLegislation/HB+124/$file/legis.html?open
Roll Call	http://legis.delaware.gov/LIS/lis147.nsf/7712cf7cc0e9227a852568470077336f/cf170ecea98a748485257b8000715078?OpenDocument
Roll Call	http://legis.delaware.gov/LIS/lis147.nsf/7712cf7cc0e9227a852568470077336f/50bd987fc2685be185257b8e006c0861?OpenDocument