The State of Delaware has enacted significant changes to various legislation regarding corporations, LLCs and LPs. Some have been effective since the first of this month, while others go into effect in October and August of 2019. More details will be released in due course, but if you have questions about how these changes impact your business in Delaware, please reach out to IBCF’s corporate specialists using the contact form on the right.
Effective as of 1 August 2018:
Statutory trust filing fees increased
Non-stock corporations authorized to ratify defective corporate acts
LLCs and LPs permitted to use the Delaware Blockchain Initiative
Introduced the “Certificate of Division,” allowing a domestic LLC to divide into 2 or more LLCs—almost the opposite of a merger
Introduced the “Statutory Public Benefit LLC,” which allows Public Benefit companies to use the LLC form
Effective as of 1 October 2018:
Delaware will enact the Certification of Adoption of Transparency and Sustainability Act which allows any entity type to support global sustainability. Prior to enactment details and standards will be released.
Effective as of 1 August 2019:
Significant changes to the Series LLC Statues. Full details to be announced.