# Delaware SB 267: AN ACT TO AMEND TITLE 10 AND TITLE 30 OF THE DELAWARE CODE RELATING TO THE UNIFORM ASSIGNMENT FOR BENEFIT OF CREDITORS ACT. Delaware SB 267, AN ACT TO AMEND TITLE 10 AND TITLE 30 OF THE DELAWARE CODE RELATING TO THE UNIFORM ASSIGNMENT FOR BENEFIT OF CREDITORS ACT., is a 153rd General Assembly (2024–2026) Senate bill sponsored by Darius J. Brown (Democratic); status signed, last action 2026-06-10 (Signed by Governor); PRIA reads it as touching household money (as of 2026-10-12). - Canonical: https://policyrisk.com/state-bill/DE-SB267-153 - As of: 2026-10-12 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: Delaware SB 267 - State: Delaware - Session: 153rd General Assembly (2024–2026) - Title: AN ACT TO AMEND TITLE 10 AND TITLE 30 OF THE DELAWARE CODE RELATING TO THE UNIFORM ASSIGNMENT FOR BENEFIT OF CREDITORS ACT. - Status: signed - Chamber: Senate - Introduced: 2026-03-25 - Last action: 2026-06-10, Signed by Governor - Sponsor: Darius J. Brown (Democratic) - Cosponsors: 2 - Touches household money: yes - Roll calls: 2 (52 yes, 0 no in all) - Economic provisions PRIA read: 10 ## Summary No summary available. ## Bill overview: provisions PRIA read - Creditor property transfers avoid Delaware tax: benefit, low. Property transfers made by an asset owner or manager for creditors under this process avoid Delaware realty transfer tax. The exemption applies to qualifying assignment transfers, not every real estate sale. No tax rate or transaction value is provided to calculate savings. - Asset managers gain powers and duties: mixed, low. Managers must act loyally, in good faith, and with reasonable care to maximize creditor payments. They must keep funds in a separate account, preserve records, report to creditors, disclose compensation changes, and meet tax requirements. A single, nondiscriminatory deadline for claims needing time… - Asset owners must disclose and cooperate: mixed, low. The asset owner and independent manager, called the assignee, must sign an agreement listing parties, addresses, assets, payment plans, and fees. The manager cannot be a creditor, insider, affiliate, or financially interested party beyond agreed fees and expenses, with a limited exception for nonco… - Creditors gain court oversight and accounting: mixed, low. Managers accept Court of Chancery authority and must petition it within 14 days after entering the assignment agreement. The court can resolve administration issues and, at a manager's request, issue orders about sales, assets, or borrowing. Owners or creditors with reasonable grounds can seek remo… - Creditors get notice and claim rules: mixed, low. Known creditors must receive notice within a reasonable time, no later than 30 days after the agreement takes effect. This includes contract partners and people employed within 90 days of the assignment; creditors can waive notice in a signed record. Notice gives contact details, claim instructions… - Cross-state assignments can reach Delaware assets: mixed, low. Delaware recognizes another state's assignment on an issue when the result is substantially similar under Delaware law. Managers can apply another state's creditor treatment when they determine it should apply; agreements choosing Delaware law follow that law. The Court of Chancery can appoint an e… - Good-faith buyers gain asset lien protections: mixed, low. A sale for value transfers the manager's rights and clears the manager's lien and subordinate liens. Good-faith buyers receive these protections even when the manager failed to follow the law or court process. Buyers without these protections take assets subject to the specified rights and liens. - Liability shields have limits for managers: mixed, low. Asset owners and managers are not personally liable for each other's acts or omissions. An owner's designated representative remains responsible for gross negligence or willful misconduct. Managers face liability for creditor-specific or estate harm from duty breaches, but good-faith reliance on sp… - New Delaware rules for paying creditors: mixed, low. The law creates a process for transferring assets to a manager who pays creditors. Delaware residents and organizations based in Delaware or governed by Delaware law qualify; banks and insurers do not. Wholly owned organizations can qualify through an eligible owner. Partly owned organizations qual… - Payment order protects wages and lenders: mixed, low. Lenders with perfected liens that cannot be undone and do not rank below the manager's lien get their collateral or proceeds first. Only reasonable, necessary expenses that benefited the lender and were consented to reduce that payment. Next come administration costs, federally preferred claims, qu… ## Sponsors and cosponsors - Sponsor: Darius J. Brown (Democratic), Senate - Cosponsor: Krista Griffith (Democratic), House - Cosponsor: Kerri Evelyn Harris (Democratic), House ## Roll call votes | Date | Chamber | Motion | Result | Yes | No | Other | | --- | --- | --- | --- | --- | --- | --- | | 2026-05-19 | House | Passed (SM required) | pass | 31 | 0 | | | 2026-05-05 | Senate | Passed (SM required) | pass | 21 | 0 | | ## Actions (7) - 2026-06-10: Signed by Governor (Governor) - 2026-05-19: Passed By House. Votes: 31 YES 10 ABSENT (House) - 2026-05-13: Reported Out of Committee (Judiciary) in House with 9 On Its Merits (House) - 2026-05-06: Assigned to Judiciary Committee in House (House) - 2026-05-05: Passed By Senate. Votes: 21 YES (Senate) - 2026-04-15: Reported Out of Committee (Judiciary) in Senate with 1 Favorable, 4 On Its Merits (Senate) - 2026-03-25: Introduced and Assigned to Judiciary Committee in Senate (Senate) ## Bill text - Current, 2026-03-25: [HTML](https://legis.delaware.gov/json/BillDetail/GenerateHtmlDocument?legislationId=143009&legislationTypeId=1&docTypeId=2) ## Related bills - HS 1 for HB 449: AN ACT TO AMEND TITLE 24 OF THE DELAWARE CODE RELATING TO THE DIETITIAN/NUTRITIONIST LICENSURE ACT. (passed house) - HB 357: AN ACT TO AMEND TITLES 10 AND 13 OF THE DELAWARE CODE RELATING TO THE DUTY TO SUPPORT POOR PERSONS. (signed) - SB 279: AN ACT TO AMEND TITLE 14 OF THE DELAWARE CODE RELATING TO SCHOOL-BASED OCCUPATIONAL THERAPISTS. (vetoed) - HB 393: AN ACT TO AMEND TITLE 26 OF THE DELAWARE CODE RELATING TO PROTECTIONS FOR PUBLIC UTILITY CONSUMERS. (vetoed) - SB 231: AN ACT TO AMEND TITLE 14 OF THE DELAWARE CODE RELATING TO SCHOOL SOCIAL WORKERS. (vetoed) - HB 356: AN ACT TO AMEND TITLE 16 OF THE DELAWARE CODE RELATING TO PFAS IN FIREFIGHTING FOAM AND EQUIPMENT. (failed) ## Sources - [Current (HTML)](https://legis.delaware.gov/json/BillDetail/GenerateHtmlDocument?legislationId=143009&legislationTypeId=1&docTypeId=2) ## Related - [HS 1 for HB 449: AN ACT TO AMEND TITLE 24 OF THE DELAWARE CODE RELATING TO THE DIETITIAN/NUTRITI…](https://policyrisk.com/state-bill/DE-HS1FORHB449-153) - [HB 357: AN ACT TO AMEND TITLES 10 AND 13 OF THE DELAWARE CODE RELATING TO THE DUTY TO S…](https://policyrisk.com/state-bill/DE-HB357-153) - [SB 279: AN ACT TO AMEND TITLE 14 OF THE DELAWARE CODE RELATING TO SCHOOL-BASED OCCUPATI…](https://policyrisk.com/state-bill/DE-SB279-153) - [HB 393: AN ACT TO AMEND TITLE 26 OF THE DELAWARE CODE RELATING TO PROTECTIONS FOR PUBLI…](https://policyrisk.com/state-bill/DE-HB393-153) - [SB 231: AN ACT TO AMEND TITLE 14 OF THE DELAWARE CODE RELATING TO SCHOOL SOCIAL WORKERS.](https://policyrisk.com/state-bill/DE-SB231-153) - [HB 356: AN ACT TO AMEND TITLE 16 OF THE DELAWARE CODE RELATING TO PFAS IN FIREFIGHTING…](https://policyrisk.com/state-bill/DE-HB356-153) - [Delaware bills](https://policyrisk.com/states/delaware/bills) - [Delaware state hub](https://policyrisk.com/states/delaware) - [All state legislation](https://policyrisk.com/state-bills) Source: PRIA, https://policyrisk.com/state-bill/DE-SB267-153 (as of 2026-10-12).