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Delaware Statutes, Title 6

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Delaware/Statutes

← All Delaware coverage

Title 6, Commerce and Trade

89 chapters · 1,810 sections in this title.

All chapters in Title 61,810 Ch 9, Article 9. Secured Transactions152 Ch 17, LIMITED PARTNERSHIPS111 Ch 18, LIMITED LIABILITY COMPANY ACT105 Ch 2, Article 2. Sales103 Ch 15, DELAWARE REVISED UNIFORM PARTNERSHIP ACT93 Ch 2a, Article 2A. Leases79 Ch 25, PROHIBITED TRADE PRACTICES78 Ch 3, Article 3. Negotiable Instruments71 Ch 8, Article 8. Investment Securities53 Ch 43, RETAIL INSTALLMENT SALES51 Ch 7, Article 7. Documents of Title43 Ch 51, Commerce and Trade42 Ch 4, Article 4. Bank Deposits and Collections41 Ch 24a, Commerce and Trade39

93 sections·Filtered byTitle 6✕Ch 15✕

6 Del. C. § 15-1001. Statement of qualification of a domestic partnership.
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§ 15-1001. Statement of qualification of a domestic partnership. (a) A domestic partnership may be formed as, or may become, a limited liability partnership pursuant to this section. (b) In order to form a limited liability partnership, the original partnership agreement of the p…
6 Del. C. § 15-1002. Name.
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§ 15-1002. Name. The name of a limited liability partnership shall comply with § 15-108 of this title.72 Del. Laws, c. 151, § 1;
6 Del. C. § 15-1003. Annual report.
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§ 15-1003. Annual report. (a) A limited liability partnership, and a foreign limited liability partnership authorized to transact business in the State of Delaware, shall file an annual report with the Secretary of State which contains: (1) The name of the limited liability partn…
6 Del. C. § 15-1004. Reinstatement of statement of qualification or statement of foreign qualification.
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§ 15-1004. Reinstatement of statement of qualification or statement of foreign qualification. (a) A partnership whose statement of qualification or statement of foreign qualification has been canceled pursuant to § 15-111(d) or § 15-111(i)(4) of this title may apply to the Secret…

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6 Del. C. § 15-101. Definitions.

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§ 15-101. Definitions. As used in this chapter unless the context otherwise requires: (1) “Business” includes every trade, occupation and profession, the holding or ownership of property and any other activity for profit. (2) “Certificate” means a certificate of conversion to par…

6 Del. C. § 15-102. Knowledge and notice.

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§ 15-102. Knowledge and notice. (a) A person knows a fact if the person has actual knowledge of it. (b) A person has notice of a fact: (1) If the person knows of it; (2) If the person has received a notification of it; (3) If the person has reason to know it exists from all of th…

6 Del. C. § 15-103. Effect of partnership agreement; nonwaivable provisions.

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§ 15-103. Effect of partnership agreement; nonwaivable provisions. (a) Except as otherwise provided in subsection (b) of this section, relations among the partners and between the partners and the partnership are governed by the partnership agreement. To the extent the partnershi…

6 Del. C. § 15-104. Supplemental principles of law.

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§ 15-104. Supplemental principles of law. (a) In any case not provided for in this chapter, the rules of law and equity, including the law merchant, shall govern. (b) No obligation of a partner to a partnership, or to a partner of a partnership, arising under a partnership agreem…

6 Del. C. § 15-105. Execution, filing and recording of statements and certificates.

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§ 15-105. Execution, filing and recording of statements and certificates. (a) A statement or certificate may be filed with the Secretary of State by delivery to the Secretary of State of the signed copy of the statement or of the certificate. A certified copy of a statement that …

6 Del. C. § 15-106. Governing law.

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§ 15-106. Governing law. (a) Except as otherwise provided in subsection (b) of this section, the law of the jurisdiction governing a partnership agreement governs relations among the partners and between the partners and the partnership. (b) The law of the State of Delaware gover…

6 Del. C. § 15-107. Reserved power of State of Delaware to alter or repeal chapter.

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§ 15-107. Reserved power of State of Delaware to alter or repeal chapter. All provisions of this chapter may be altered from time to time or repealed and all rights of partners are subject to this reservation. Unless expressly stated to the contrary in this chapter, all amendment…

6 Del. C. § 15-108. Name of partnership.

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§ 15-108. Name of partnership. (a) The name of a partnership: (i) may contain the name of a partner and (ii) may contain the following words: “Company,” “Association,” “Club,” “Foundation,” “Fund,” “Institute,” “Society,” “Union,” “Syndicate,” “Trust” (or abbreviations of like im…

6 Del. C. § 15-109. Reservation of name.

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§ 15-109. Reservation of name. (a) The exclusive right to use of a specified name in a statement using the specified name may be reserved by: (1) any person intending to organize a partnership under this chapter and to adopt that name; (2) any partnership or any foreign limited l…

6 Del. C. § 15-110. Indemnification.

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§ 15-110. Indemnification. Subject to such standards and restrictions, if any, as are set forth in its partnership agreement, a partnership may, and shall have the power to, indemnify and hold harmless any partner or other person from and against any and all claims and demands wh…

6 Del. C. § 15-1101. Law governing foreign limited liability partnership.

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§ 15-1101. Law governing foreign limited liability partnership. (a) The law under which a foreign limited liability partnership is formed governs relations among the partners and between the partners and the partnership and the liability of partners for obligations of the partner…

6 Del. C. § 15-1102. Statement of foreign qualification.

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§ 15-1102. Statement of foreign qualification. (a) Before doing business in the State of Delaware, a foreign limited liability partnership shall register with the Secretary of State by filing: (1) A statement of foreign qualification which must contain: a. The name of the foreign…

6 Del. C. § 15-1103. Effect of failure to qualify.

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§ 15-1103. Effect of failure to qualify. (a) A foreign limited liability partnership doing business in the State of Delaware may not maintain an action or proceeding in the State of Delaware until it has in effect a statement of foreign qualification and has paid to the State of …

6 Del. C. § 15-1104. Activities not constituting doing business.

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§ 15-1104. Activities not constituting doing business. (a) Activities of a foreign limited liability partnership in the State of Delaware which do not constitute doing business for the purpose of this subchapter include: (1) Maintaining, defending or settling an action or proceed…

6 Del. C. § 15-1105. Foreign limited liability partnerships doing business without having qualified; injunctions.

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§ 15-1105. Foreign limited liability partnerships doing business without having qualified; injunctions. (a) The Court of Chancery shall have jurisdiction to enjoin any foreign limited liability partnership, or any agent thereof, from doing any business in the State of Delaware if…

6 Del. C. § 15-111. Registered office; registered agent.

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§ 15-111. Registered office; registered agent. (a) Each partnership that files a statement of partnership existence, a statement of qualification or a statement of foreign qualification shall have and maintain in the State of Delaware: (1) A registered office, which may but need …

6 Del. C. § 15-112. Service of process on partnership filing a statement.

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§ 15-112. Service of process on partnership filing a statement. (a) Service of legal process upon any partnership which has filed a statement of partnership existence, a statement of qualification or a statement of foreign qualification shall be made by delivering a copy personal…

6 Del. C. § 15-113. Service of process on a partnership not filing a statement.

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§ 15-113. Service of process on a partnership not filing a statement. (a) Service of legal process upon any partnership which has not filed a statement of partnership existence, a statement of qualification or a statement of foreign qualification and which is formed under the law…

6 Del. C. § 15-114. Service of process on a partner and liquidating trustee.

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§ 15-114. Service of process on a partner and liquidating trustee. (a) A partner or a liquidating trustee of a partnership which is formed under the laws of the State of Delaware or doing business in the State of Delaware may be served with process in the manner prescribed in thi…

6 Del. C. § 15-115. Doing business.

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§ 15-115. Doing business. A limited partnership, a partnership, a limited liability company, a business or other trust or association, or a corporation formed or organized under the laws of any foreign country or other foreign jurisdiction or the laws of any state shall not be de…

6 Del. C. § 15-116. Restated statement of partnership existence.

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§ 15-116. Restated statement of partnership existence. (a) A statement of partnership existence may be restated by integrating into a single instrument all of the provisions of the statement of partnership existence which are then in effect and operative as a result of there havi…

6 Del. C. § 15-117. Execution, amendment or cancelation by judicial order.

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§ 15-117. Execution, amendment or cancelation by judicial order. (a) If a person required by this chapter to execute any statement or certificate fails or refuses to do so, any other person who is adversely affected by the failure or refusal, may petition the Court of Chancery to…

6 Del. C. § 15-118. Statement or certificate of correction; corrected statement or certificate.

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§ 15-118. Statement or certificate of correction; corrected statement or certificate. (a) Whenever any statement or certificate authorized to be filed with the Secretary of State under any provision of this chapter has been so filed and is an inaccurate record of the action there…

6 Del. C. § 15-119. Business transactions of partner with the partnership.

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§ 15-119. Business transactions of partner with the partnership. Except as provided in the partnership agreement, a partner may lend money to, borrow money from, act as a surety, guarantor or endorser for, guarantee or assume 1 or more specific obligations of, provide collateral …

6 Del. C. § 15-120. No statutory appraisal rights.

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§ 15-120. No statutory appraisal rights. Unless otherwise provided in a partnership agreement or an agreement of merger or consolidation or a plan of merger, no appraisal rights shall be available with respect to a partnership interest or another interest in a partnership, includ…

6 Del. C. § 15-1201. Uniformity of application and construction.

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§ 15-1201. Uniformity of application and construction. This chapter shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this chapter among states enacting it. The rule that statutes in derogation of the common la…

6 Del. C. § 15-1202. Short title.

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§ 15-1202. Short title. This chapter may be cited as the “Delaware Revised Uniform Partnership Act.”72 Del. Laws, c. 151, § 1;

6 Del. C. § 15-1203. Severability clause.

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§ 15-1203. Severability clause. If any provision of this chapter or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this chapter which can be given effect without the invalid provision or applicatio…

6 Del. C. § 15-1204. Effective date.

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§ 15-1204. Effective date. This chapter takes effect January 1, 2000.72 Del. Laws, c. 151, § 1;

6 Del. C. § 15-1205. Repeals.

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§ 15-1205. Repeals. Except with respect to limited partnerships (see 6 Del. C. § 17-1105), effective January 1, 2002, the Delaware Uniform Partnership Law, 6 Del. C. §§ 1501-1553 is repealed.72 Del. Laws, c. 151, § 1;

6 Del. C. § 15-1206. Applicability.

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§ 15-1206. Applicability. (a) Before January 1, 2002, this chapter governs only a partnership formed: (1) After the effective date of this chapter, except a partnership that is continuing the business of a dissolved partnership under 6 Del. C. § 1541; and (2) Before the effective…

6 Del. C. § 15-1207. Fees.

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§ 15-1207. Fees. (a) No document required to be filed under this chapter shall be effective until the applicable fee required by this section is paid. The following fees shall be paid to and collected by the Secretary of State for the use of the State of Delaware: (1) Upon the re…

6 Del. C. § 15-1208. Annual tax of partnership.

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§ 15-1208. Annual tax of partnership. (a) Every partnership that has filed a statement of partnership existence shall pay an annual tax, for the use of the State of Delaware, in the amount of $400. (b) The annual tax shall be due and payable on the first day of June following the…

6 Del. C. § 15-1209. Cancelation of statement of partnership existence for failure to pay annual tax.

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§ 15-1209. Cancelation of statement of partnership existence for failure to pay annual tax. (a) The statement of partnership existence of a partnership shall be canceled if the partnership shall fail to pay the annual tax due under § 15-1208 of this title for a period of 3 years …

6 Del. C. § 15-121. Contested matters relating to partners; contested votes.

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§ 15-121. Contested matters relating to partners; contested votes. (a) Upon application of any partner of a partnership which is formed under the laws of the State of Delaware or doing business in the State of Delaware, the Court of Chancery may hear and determine the validity of…

6 Del. C. § 15-1210. Revival of statement of partnership existence.

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§ 15-1210. Revival of statement of partnership existence. (a) A statement of partnership existence that has been canceled pursuant to § 15-111(d) or § 15-111(i)(4) or § 15-1209(a) of this title may be revived by filing in the office of the Secretary of State a certificate of revi…

6 Del. C. § 15-122. Interpretation and enforcement of partnership agreement.

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§ 15-122. Interpretation and enforcement of partnership agreement. Any action to interpret, apply or enforce the provisions of a partnership agreement of a partnership which is formed under the laws of the State of Delaware or doing business in the State of Delaware, or the dutie…

6 Del. C. § 15-123. Irrevocable power of attorney or proxy.

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§ 15-123. Irrevocable power of attorney or proxy. For all purposes of the laws of the State of Delaware, a power of attorney or proxy with respect to a partnership granted to any person shall be irrevocable if it states that it is irrevocable and it is coupled with an interest su…

6 Del. C. § 15-124. Document form, signature and delivery.

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§ 15-124. Document form, signature and delivery. (a) Except as provided in subsection (b) of this section, without limiting the manner in which any act or transaction may be documented, or the manner in which a document may be signed or delivered: (1) Any act or transaction conte…

6 Del. C. § 15-201. Partnership as entity.

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§ 15-201. Partnership as entity. (a) A partnership is a separate legal entity which is an entity distinct from its partners unless otherwise provided in a statement of partnership existence or a statement of qualification and in a partnership agreement. (b) A limited liability pa…

6 Del. C. § 15-202. Formation of partnership; powers.

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§ 15-202. Formation of partnership; powers. (a) Except as otherwise provided in subsection (b) of this section, the association of 2 or more persons (i) to carry on as co-owners a business for profit forms a partnership, whether or not the persons intend to form a partnership, an…

6 Del. C. § 15-203. Partnership property.

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§ 15-203. Partnership property. Unless otherwise provided in a statement of partnership existence or a statement of qualification and in a partnership agreement, property acquired by a partnership is property of the partnership and not of the partners individually.72 Del. Laws, c…

6 Del. C. § 15-204. When property is partnership property.

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§ 15-204. When property is partnership property. (a) Property is partnership property if acquired in the name of: (1) The partnership; or (2) One or more persons with an indication in the instrument transferring title to the property of the person’s capacity as a partner or of th…

6 Del. C. § 15-205. Admission without contribution or partnership interest.

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§ 15-205. Admission without contribution or partnership interest. Each person to be admitted as a partner to a partnership formed under either § 15-202(a)(i) or § 15-202(a)(ii) of this title may be admitted as a partner and may receive a partnership interest in the partnership wi…

6 Del. C. § 15-206. Form of contribution.

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§ 15-206. Form of contribution. The contribution of a partner may be in cash, property or services rendered, or a promissory note or other obligation to contribute cash or property or to perform services.72 Del. Laws, c. 151, § 1;

6 Del. C. § 15-207. Liability for contribution.

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§ 15-207. Liability for contribution. (a) A partner is obligated to the partnership to perform any promise to contribute cash or property or to perform services, even if the partner is unable to perform because of death, disability or any other reason. If a partner does not make …