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2014 Amendments to Delaware's General Corporation Law, Alternative Entity Statutes and Contract Statute of Limitations

In its latest session, the Delaware legislature adopted significant amendments to Delaware’s “alternative entity” statutes—the Delaware Limited Liability Company Act (“DLLCA”), the Delaware Revised Uniform Limited Partnership Act (“DRULPA”), the Delaware Revised Uniform Partnership Act (“DRUPA”) and the Delaware Statutory Trust Act (“DSTA”). In addition, the Delaware legislature amended Chapter 81 of Title 10 of the Delaware Code to permit a statute of limitations for breach of contract claims of up to 20 years.

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Melissa A. DiVincenzo, Louis G. Hering, “2014 Amendments to Delaware’s General Corporation Law, Alternative Entity Statutes and Contract Statute of Limitations,” Corporate Accountability Report, Bloomberg BNA, Vol. 12, No. 31 (Aug. 1, 2014)

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