Category: Delaware LLC Act

Amendments to Delaware LLC Ac

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

Contractarianism Under the Delaware LLC Act

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/