SB 72 — AN ACT TO AMEND CHAPTER 18, TITLE 6 OF THE DELAWARE CODE RELATING TO THE CREATION, REGULATION, OPERATION AND DISSOLUTION OF DOMESTIC LIMITED LIABILITY COMPANIES AND THE REGISTRATION AND REGULATION OF FOREIGN LIMITED LIABILITY COMPANIES.
Last action — Signed by Governor
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✓Introduced
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✓In Committee
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✓Passed Senate
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✓Passed House
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✓To Executive
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6Enacted
This bill has been enacted into law. Introduced May 05, 2017. Enacted.
Odds of enactment
High chanceBased on the sponsor, cosponsors, and committee posture, this bill has a high chance of becoming law.
Upgrade to see the exact probability and what's driving it.
A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.
Prognosis
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Enacted
Current position in the legislative process.
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12 sponsors
7 primary, 5 co-sponsors signed on.
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Bipartisan support
Sponsored across 2 parties (4 D · 1 R) — cross-party backing.
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Cleared a recorded vote
Passed 2 recorded votes so far.
Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.
Summary
This bill continues the practice of amending periodically the Delaware Limited Liability Company 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 through 5 and 12. These sections amend Sections 18-101(4), 18-101(11), 18-102(5), 18-104(g), 18-104(i)(4) and 18-1107(a) of the Act to clarify and confirm the distinction between domestic limited liability companies and foreign limited liability companies and to make certain other conforming changes. Section 6. This section adds subsection (e) to Section 18-201 of the Act to confirm and clarify that a certificate of formation substantially complies with Section 18-201(a)(2) if it contains the name of the registered agent and the address of the registered office even if the certificate of formation does not expressly designate such person as the registered agent or such address as the registered office or the address of the registered agent. Section 7. This section amends Section 18-209(a) of the Act relating to mergers and consolidations to confirm that "other business entity" includes any incorporated or unincorporated business or entity (other than a domestic limited liability company). Section 8. This section amends Section 18-212(a) of the Act relating to the domestication of non-United States entities to confirm that the term "non-United States entity" includes any incorporated or unincorporated non-United States business or entity. Section 9. This section amends Section 18-214(a) of the Act relating to conversions to a limited liability company to confirm that the term "other entity" includes any incorporated or unincorporated business or entity (other than a domestic limited liability company). Section 10. This section amends Section 18-216(a) of the Act relating to a conversion of a limited liability company to confirm that a domestic limited liability company may convert to any incorporated or unincorporated business or entity (other than a domestic limited liability company). Section 11. This section amends Section 18-407 of the Act to confirm and clarify the broad power and authority of a member or manager to delegate any or all of the member’s or manager’s rights, powers and duties to manage and control the business and affairs of a limited liability company, including any core governance functions. Section 13. This section provides that the proposed amendments of the Act shall become effective August 1, 2017.
Bill Text
- Bill Text View text Current pdf
Action History
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Signed by Governor
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Passed By House. Votes: 39 YES 1 NO 1 ABSENT
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Reported Out of Committee (Judiciary) in House with 9 On Its Merits
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Assigned to Judiciary Committee in House
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Passed By Senate. Votes: 21 YES
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Amendment SA 1 to SB 72 - Passed By Senate. Votes: 20 YES 1 ABSENT
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Lifted From Table in Senate
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Laid On Table in Senate
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Reported Out of Committee (Banking, Business & Insurance) in Senate with 4 On Its Merits
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Introduced and Assigned to Banking, Business & Insurance Committee in Senate
Sponsors
- Bryan Townsend · Primary
- Stephanie L. Hansen · Primary
- Sean M. Lynn · Primary
- Trey Paradee · Cosponsor
- Jeffrey N. Spiegelman · Cosponsor
- James Johnson · Cosponsor
- Gerald L. Brady · Cosponsor
- Gregory F. Lavelle · Cosponsor
- Melanie George Smith · Primary
- John L. Mitchell · Primary
- Margaret Rose Henry · Primary
- Anthony Delcollo · Primary
Sponsorship breakdown
Export CSV (upgrade) →7 sponsors · 5 co-sponsors · 50 not signed on · 1 voted No
Sponsors (7)
- Bryan Townsend Democratic
- Stephanie L. Hansen Democratic
- Sean M. Lynn Democratic
- Melanie George Smith
- John L. Mitchell
- Margaret Rose Henry
- Anthony Delcollo
Co-sponsors (5)
- Trey Paradee Democratic
- Jeffrey N. Spiegelman Republican
- James Johnson
- Gerald L. Brady
- Gregory F. Lavelle
Not signed on (50)
50 members have not signed on to this bill.
Show all 50 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Votes
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 23 | 1 | 0 | 1 |
| Democratic | 7 | 0 | 0 | 0 |
| Republican | 9 | 0 | 0 | 0 |
| Total | 39 | 1 | 0 | 1 |
| % of votes cast | 95% | 2% | 0% | 2% |
How each member voted (41)
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 12 | 0 | 0 | 0 |
| Democratic | 5 | 0 | 0 | 0 |
| Republican | 4 | 0 | 0 | 0 |
| Total | 21 | 0 | 0 | 0 |
| % of votes cast | 100% | 0% | 0% | 0% |
How each member voted (21)
| Member | Party | Vote |
|---|---|---|
| Anthony Delcollo | — | Yea |
| Brian J. Bushweller | — | Yea |
| Bruce C. Ennis | — | Yea |
| Catherine Cloutier | — | Yea |
| Colin Bonini | — | Yea |
| David B. McBride | — | Yea |
| Ernesto B Lopez | — | Yea |
| F. Gary Simpson | — | Yea |
| Gregory F. Lavelle | — | Yea |
| Harris B. McDowell | — | Yea |
| Margaret Rose Henry | — | Yea |
| Robert Marshall | — | Yea |
| Bryan Townsend | Democratic | Yea |
| David P. Sokola | Democratic | Yea |
| John "Jack" Walsh | Democratic | Yea |
| Nicole Poore | Democratic | Yea |
| Stephanie L. Hansen | Democratic | Yea |
| Brian Pettyjohn | Republican | Yea |
| Bryant L. Richardson | Republican | Yea |
| Dave G. Lawson | Republican | Yea |
| Gerald W. Hocker | Republican | Yea |
Subjects
Frequently asked questions
- What does SB 72 do?
- This bill continues the practice of amending periodically the Delaware Limited Liability Company 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 through 5 and 12. These sections amend Sections 18-101(4), 18-101(11), 18-102(5), 18-104(g), 18-104(i)(4) and 18-1107(a) of the Act to clarify and confirm the distinction between domestic limited liability companies and foreign limited liability companies and to make certain other conforming changes. Section 6. This section adds subsection (e) to Section 18-201 of the Act to confirm and clarify that a certificate of formation substantially complies with Section 18-201(a)(2) if it contains the name of the registered agent and the address of the registered office even if the certificate of formation does not expressly designate such person as the registered agent or such address as the registered office or the address of the registered agent. Section 7. This section amends Section 18-209(a) of the Act relating to mergers and consolidations to confirm that "other business entity" includes any incorporated or unincorporated business or entity (other than a domestic limited liability company). Section 8. This section amends Section 18-212(a) of the Act relating to the domestication of non-United States entities to confirm that the term "non-United States entity" includes any incorporated or unincorporated non-United States business or entity. Section 9. This section amends Section 18-214(a) of the Act relating to conversions to a limited liability company to confirm that the term "other entity" includes any incorporated or unincorporated business or entity (other than a domestic limited liability company). Section 10. This section amends Section 18-216(a) of the Act relating to a conversion of a limited liability company to confirm that a domestic limited liability company may convert to any incorporated or unincorporated business or entity (other than a domestic limited liability company). Section 11. This section amends Section 18-407 of the Act to confirm and clarify the broad power and authority of a member or manager to delegate any or all of the member’s or manager’s rights, powers and duties to manage and control the business and affairs of a limited liability company, including any core governance functions. Section 13. This section provides that the proposed amendments of the Act shall become effective August 1, 2017.
- Who sponsors SB 72?
- SB 72 is sponsored by Bryan Townsend (Democratic), Stephanie L. Hansen (Democratic), Sean M. Lynn (Democratic), Trey Paradee (Democratic), Jeffrey N. Spiegelman (Republican), James Johnson, Gerald L. Brady, Gregory F. Lavelle, Melanie George Smith, John L. Mitchell, Margaret Rose Henry, and Anthony Delcollo.
- What is the current status of SB 72?
- This bill has been enacted into law. Introduced May 05, 2017. Enacted.
- Where can I track SB 72?
- Track SB 72 free on One Click Politics — get push/email alerts when it moves.
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