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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

1,810 sections·Filtered byTitle 6✕

6 Del. C. § 17-608. Liability upon return of contribution.
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§ 17-608. Liability upon return of contribution. Repealed by 66 Del. Laws, c. 316, § 56, eff. Sept. 1, 1988.
6 Del. C. § 17-701. Nature of partnership interest.
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§ 17-701. Nature of partnership interest. A partnership interest is personal property. A partner has no interest in specific limited partnership property.6 Del. C. 1953, § 1718; 59 Del. Laws, c. 105, § 1; 63 Del. Laws, c. 420, § 1; 65 Del. Laws, c. 188, § 1;
6 Del. C. § 17-702. Assignment of partnership interest.
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§ 17-702. Assignment of partnership interest. (a) Unless otherwise provided in the partnership agreement: (1) A partnership interest is assignable in whole or in part; (2) An assignment of a partnership interest does not dissolve a limited partnership or entitle the assignee to b…
6 Del. C. § 17-703. Partner’s partnership interest subject to charging order.
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§ 17-703. Partner’s partnership interest subject to charging order. (a) On application by a judgment creditor of a partner or of a partner’s assignee, a court having jurisdiction may charge the partnership interest of the judgment debtor to satisfy the judgment. To the extent so …

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6 Del. C. § 17-704. Right of assignee to become limited partner.

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§ 17-704. Right of assignee to become limited partner. (a) An assignee of a partnership interest, including an assignee of a general partner, becomes a limited partner: (1) As provided in the partnership agreement; or (2) Unless otherwise provided in the partnership agreement, up…

6 Del. C. § 17-705. Powers of estate of deceased or incompetent partner.

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§ 17-705. Powers of estate of deceased or incompetent partner. If a partner who is an individual dies or a court of competent jurisdiction adjudges the partner to be incompetent to manage the partner’s person or property, the partner’s personal representative may exercise all of …

6 Del. C. § 17-801. Nonjudicial dissolution.

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§ 17-801. Nonjudicial dissolution. A limited partnership is dissolved and its affairs shall be wound up upon the first to occur of the following: (1) At the time specified in a partnership agreement, but if no such time is set forth in the partnership agreement, then the limited …

6 Del. C. § 17-802. Judicial dissolution.

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§ 17-802. Judicial dissolution. On application by or for a partner the Court of Chancery may decree dissolution of a limited partnership whenever it is not reasonably practicable to carry on the business in conformity with the partnership agreement.63 Del. Laws, c. 420, § 1; 65 D…

6 Del. C. § 17-803. Winding up.

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§ 17-803. Winding up. (a) Unless otherwise provided in the partnership agreement, the general partners who have not wrongfully dissolved a limited partnership or, if none, the limited partners, or a person approved by the limited partners, in either case, by limited partners who …

6 Del. C. § 17-804. Distribution of assets.

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§ 17-804. Distribution of assets. (a) Upon the winding up of a limited partnership, the assets shall be distributed as follows: (1) To creditors, including partners who are creditors, to the extent otherwise permitted by law, in satisfaction of liabilities of the limited partners…

6 Del. C. § 17-805. Trustees or receivers for limited partnerships; appointment; powers; duties.

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§ 17-805. Trustees or receivers for limited partnerships; appointment; powers; duties. When the certificate of limited partnership of any limited partnership formed under this chapter shall be canceled by the filing of a certificate of cancellation pursuant to § 17-203 of this ti…

6 Del. C. § 17-806. Revocation of dissolution.

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§ 17-806. Revocation of dissolution. If a partnership agreement provides the manner in which a dissolution may be revoked, it may be revoked in that manner and, unless a partnership agreement prohibits revocation of dissolution, then notwithstanding the occurrence of an event set…

6 Del. C. § 17-901. Law governing.

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§ 17-901. Law governing. (a) Subject to the Constitution of the State of Delaware: (1) The laws of the state, territory, possession, or other jurisdiction or country under which a foreign limited partnership is organized govern its organization and internal affairs and the liabil…

6 Del. C. § 17-902. Registration required; application.

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§ 17-902. Registration required; application. Before doing business in the State of Delaware, a foreign limited partnership shall register with the Secretary of State. In order to register, a foreign limited partnership shall submit to the Secretary of State: (1) A copy of an app…

6 Del. C. § 17-903. Issuance of registration.

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§ 17-903. Issuance of registration. (a) If the Secretary of State finds that an application for registration conforms to law and all requisite fees have been paid, the Secretary shall: (1) Certify that the application has been filed in the Secretary’s office by endorsing upon the…

6 Del. C. § 17-904. Name; registered office; registered agent.

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§ 17-904. Name; registered office; registered agent. (a) A foreign limited partnership may register with the Secretary of State under any name (whether or not it is the name under which it is registered in the jurisdiction of its organization) that includes the words “Limited Par…

6 Del. C. § 17-905. Amendments to application.

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§ 17-905. Amendments to application. If any statement in the application for registration of a foreign limited partnership was false when made or any arrangements or other facts described have changed, making the application false in any respect, the foreign limited partnership s…

6 Del. C. § 17-906. Cancellation of registration.

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§ 17-906. Cancellation of registration. A foreign limited partnership may cancel its registration by filing with the Secretary of State a certificate of cancellation executed by any person authorized to execute the certificate on behalf of the foreign limited partnership, togethe…

6 Del. C. § 17-907. Doing business without registration.

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§ 17-907. Doing business without registration. (a) A foreign limited partnership doing business in the State of Delaware may not maintain any action, suit or proceeding in the State of Delaware until it has registered in the State of Delaware, and has paid to the State of Delawar…

6 Del. C. § 17-908. Foreign limited partnerships doing business without having qualified; injunctions.

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§ 17-908. Foreign limited partnerships doing business without having qualified; injunctions. The Court of Chancery shall have jurisdiction to enjoin any foreign limited partnership, or any agent thereof, from doing any business in the State of Delaware if such foreign limited par…

6 Del. C. § 17-909. Execution; liability.

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§ 17-909. Execution; liability. Sections 17-204(d) and 17-207 of this title shall be applicable to foreign limited partnerships as if they were domestic limited partnerships.63 Del. Laws, c. 420, § 1; 65 Del. Laws, c. 188, § 1; 77 Del. Laws, c. 288, § 6;

6 Del. C. § 17-910. Service of process on registered foreign limited partnerships.

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§ 17-910. Service of process on registered foreign limited partnerships. (a) Service of legal process upon any foreign limited partnership shall be made by delivering a copy personally to any managing or general agent or general partner of the foreign limited partnership in the S…

6 Del. C. § 17-911. Service of process on unregistered foreign limited partnerships.

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§ 17-911. Service of process on unregistered foreign limited partnerships. (a) Any foreign limited partnership which shall do business in the State of Delaware without having registered under § 17-902 of this title shall be deemed to have thereby appointed and constituted the Sec…

6 Del. C. § 17-912. Activities not constituting doing business.

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§ 17-912. Activities not constituting doing business. (a) Activities of a foreign limited partnership in the State of Delaware that do not constitute doing business for the purpose of this subchapter include: (1) Maintaining, defending or settling an action or proceeding; (2) Hol…

6 Del. C. § 18-1001. Right to bring action.

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§ 18-1001. Right to bring action. A member or an assignee of a limited liability company interest may bring an action in the Court of Chancery in the right of a limited liability company to recover a judgment in its favor if managers or members with authority to do so have refuse…

6 Del. C. § 18-1002. Proper plaintiff.

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§ 18-1002. Proper plaintiff. In a derivative action, the plaintiff must be a member or an assignee of a limited liability company interest at the time of bringing the action and: (1) At the time of the transaction of which the plaintiff complains; or (2) The plaintiff’s status as…

6 Del. C. § 18-1003. Complaint.

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§ 18-1003. Complaint. In a derivative action, the complaint shall set forth with particularity the effort, if any, of the plaintiff to secure initiation of the action by a manager or member or the reasons for not making the effort.68 Del. Laws, c. 434, § 1;

6 Del. C. § 18-1004. Expenses.

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§ 18-1004. Expenses. If a derivative action is successful, in whole or in part, as a result of a judgment, compromise or settlement of any such action, the court may award the plaintiff reasonable expenses, including reasonable attorney’s fees, from any recovery in any such actio…

6 Del. C. § 18-101. Definitions.

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§ 18-101. Definitions. As used in this chapter unless the context otherwise requires: (1) “Bankruptcy” means an event that causes a person to cease to be a member as provided in § 18-304 of this title. (2) a. “Certificate of formation” means the certificate referred to in § 18-20…

6 Del. C. § 18-102. Name set forth in certificate.

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§ 18-102. Name set forth in certificate. The name of each limited liability company as set forth in its certificate of formation: (1) Shall contain the words “Limited Liability Company” or the abbreviation “L.L.C.” or the designation “LLC”; (2) May contain the name of a member or…

6 Del. C. § 18-103. Reservation of name.

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§ 18-103. Reservation of name. (a) The exclusive right to the use of a name may be reserved by: (1) Any person intending to organize a limited liability company under this chapter and to adopt that name; (2) Any person intending to form a registered series of a limited liability …

6 Del. C. § 18-104. Registered office; registered agent.

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§ 18-104. Registered office; registered agent. (a) Each limited liability company shall have and maintain in the State of Delaware: (1) A registered office, which may but need not be a place of its business in the State of Delaware; and (2) A registered agent for service of proce…

6 Del. C. § 18-105. Service of process on domestic limited liability companies and protected series or registered series thereof.

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§ 18-105. Service of process on domestic limited liability companies and protected series or registered series thereof. (a) Service of legal process upon any domestic limited liability company or any protected series or registered series thereof shall be made by delivering a copy…

6 Del. C. § 18-106. Nature of business permitted; powers.

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§ 18-106. Nature of business permitted; powers. (a) A limited liability company may carry on any lawful business, purpose or activity, whether or not for profit, with the exception of the business of banking as defined in § 126 of Title 8. (b) A limited liability company shall po…

6 Del. C. § 18-107. Business transactions of member or manager with the limited liability company.

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§ 18-107. Business transactions of member or manager with the limited liability company. Except as provided in a limited liability company agreement, a member or manager may lend money to, borrow money from, act as a surety, guarantor or endorser for, guarantee or assume 1 or mor…

6 Del. C. § 18-108. Indemnification.

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§ 18-108. Indemnification. Subject to such standards and restrictions, if any, as are set forth in its limited liability company agreement, a limited liability company may, and shall have the power to, indemnify and hold harmless any member or manager or other person from and aga…

6 Del. C. § 18-109. Service of process on managers and liquidating trustees.

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§ 18-109. Service of process on managers and liquidating trustees. (a) A manager or a liquidating trustee of a limited liability company may be served with process in the manner prescribed in this section in all civil actions or proceedings brought in the State of Delaware involv…

6 Del. C. § 18-110. Contested matters relating to managers; contested votes.

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§ 18-110. Contested matters relating to managers; contested votes. (a) Upon application of any member or manager, the Court of Chancery may hear and determine the validity of any admission, election, appointment, removal or resignation of a manager of a limited liability company,…

6 Del. C. § 18-1101. Construction and application of chapter and limited liability company agreement.

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§ 18-1101. Construction and application of chapter and limited liability company agreement. (a) The rule that statutes in derogation of the common law are to be strictly construed shall have no application to this chapter. (b) It is the policy of this chapter to give the maximum …

6 Del. C. § 18-1102. Short title.

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§ 18-1102. Short title. This chapter may be cited as the “Delaware Limited Liability Company Act.”68 Del. Laws, c. 434, § 1;

6 Del. C. § 18-1103. Severability.

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§ 18-1103. Severability. If any provision of this chapter or its application to any person or circumstances is held invalid, the invalidity does not affect other provisions or applications of the chapter which can be given effect without the invalid provision or application, and …

6 Del. C. § 18-1104. Cases not provided for in this chapter.

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§ 18-1104. Cases not provided for in this chapter. In any case not provided for in this chapter, the rules of law and equity, including the rules of law and equity relating to fiduciary duties and the law merchant, shall govern.68 Del. Laws, c. 434, § 1; 79 Del. Laws, c. 74, § 8;

6 Del. C. § 18-1105. Fees.

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§ 18-1105. 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. § 18-1106. Reserved power of State of Delaware to alter or repeal chapter.

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§ 18-1106. 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 members and managers are subject to this reservation. Unless expressly stated to the contrary in this chapter, …

6 Del. C. § 18-1107. Taxation of limited liability companies and registered series.

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§ 18-1107. Taxation of limited liability companies and registered series. (a) For purposes of any tax imposed by the State of Delaware or any instrumentality, agency or political subdivision of the State of Delaware, a domestic limited liability company or a foreign limited liabi…

6 Del. C. § 18-1108. Cancellation of certificate of formation or certificate of registered series for failure to pay taxes.

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§ 18-1108. Cancellation of certificate of formation or certificate of registered series for failure to pay taxes. (a) The certificate of formation of a domestic limited liability company shall be canceled if the annual tax due under § 18-1107 of this title for the domestic limite…

6 Del. C. § 18-1109. Revival of domestic limited liability company.

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§ 18-1109. Revival of domestic limited liability company. (a) A domestic limited liability company whose certificate of formation has been canceled pursuant to § 18-104(d), § 18-104(i)(4) or § 18-1108(a) of this title may be revived by filing in the office of the Secretary of Sta…

6 Del. C. § 18-111. Interpretation and enforcement of limited liability company agreement.

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§ 18-111. Interpretation and enforcement of limited liability company agreement. Any action to interpret, apply or enforce the provisions of a limited liability company agreement, or the duties, obligations or liabilities of a limited liability company to the members or managers …

6 Del. C. § 18-1110. Revival of a registered series.

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§ 18-1110. Revival of a registered series. (a) A registered series whose certificate of registered series has been canceled pursuant to § 18-1108(b) of this title may be revived by filing in the office of the Secretary of State a certificate of revival of registered series accomp…

6 Del. C. § 18-112. Judicial cancellation of certificate of formation; proceedings.

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§ 18-112. Judicial cancellation of certificate of formation; proceedings. (a) Upon motion by the Attorney General, the Court of Chancery shall have jurisdiction to cancel the certificate of formation of any domestic limited liability company for abuse or misuse of its limited lia…