CHAPTER 296

FORMERLY

SENATE BILL NO. 374

AN ACT TO AMEND TITLE 6 OF THE DELAWARE CODE RELATING TO PARTNERSHIP INTERESTS IN GENERAL PARTNERSHIPS AND LIMITED PARTNERSHIPS AND THE UNIFORM COMMERCIAL CODE.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:

Section 1. AMEND Subsection (1)(b) of Section 8-102, Subtitle I, Title 6 of the Delaware Code by deleting the "and" at the end of Subsection (ii).

Section 2. AMEND Subsection (1)(b) of Section 8-102, Subtitle I, Title 6 of the Delaware Code by deleting the "." at the end of Subsection (iii), and substituting in lieu thereof ";and", and adding the following Subsection (iv):

"(iv) not a partnership interest in a general partnership or a limited partnership."

Section 3. AMEND Subsection (1)(c) of Section 8-102, Subtitle I, Title 6 of the Delaware Code by inserting in said Subsection, after the fourth sentence thereof and before the fifth sentence thereof a new sentence as follows:

"This Article applies to partnership interests in general partnerships and limited partnerships only to the extent such interests constitute certificated securities under subsection (1)(a) of this section."

Section 4. This Act shall take effect immediately after its enactment.

Approved July 2, 1992.