Delaware has recently made a number of important amendments to the Delaware Limited Liability Company Act. Most of these amendments became effective on August 1, 2018. Lawyers who draft operating agreements under the Delaware Act need to have a detailed knowledge of these amendments.
For an excellent overview of them, click here:
https://www.loeb.com/publications-clientalerts-20180907-delawareamendslawregardingdivisionandformationoflimitedliabilitycompanies
In A&J Capital, Inc. v. Law Office of Krug, C.A. No. 2018-0240-JRS (July 18, 2018), the Delaware Court of Chancery once again emphasized the profoundly contractarian nature of Delaware LLC law and explained the meaning and implication of Delaware LLC contractarianism in substantial detail. For an excellent summary of the case, click here:
https://www.klgatesdelawaredocket.com/2018/09/chancery-court-enforces-llc-agreement-further-demonstrating-that-llcs-are-creatures-of-contract/
Several significant amendments to the Delaware Limited Liability Company Act became effective on August 1, 2018. A brief but useful discussion of these amendments may be found under this link: https://www.taftlaw.com/news-events/law-bulletins/delaware-limited-liability-company-act-new-statutory-constructs
To those of you who form Delaware LLCs or review Delaware LLC agreements from time to time, the article under the link below may be of interest.
Here’s the link: https://www.lexology.com/library/detail.aspx?g=ed247a58-b704-4a57-81be-89ca544fcd6b&l=87SBCLT
