CHAPTER 114

FORMERLY

SENATE SUBSTITUTE NO. 1

FOR

SENATE BILL NO. 115

AN ACT TO AMEND CHAPTER 15, TITLE 6 OF THE DELAWARE CODE RELATING TO THE REGISTRATION AND REGULATION OF REGISTERED LIMITED LIABILITY PARTNERSHIPS.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE (three-fifths of all members elected to each house thereof concurring therein):

Section 1. Amend §1515, Chapter 15, Title 6 of the Delaware Code by deleting the existing text of subsection (b) following the words "assessment or otherwise," and substituting in lieu thereof the following: "for any debt, obligation or other liability of or chargeable to the partnership or another partner or partners, whether arising in contract, tort or otherwise, while the partnership is a registered limited liability partnership."

Section 2. Amend §1544, Chapter 15, Title 6 of the Delaware Code by deleting the existing text of subsection (c) following the words "be more than" and substituting in lieu thereof the following: "$120,000."

Section 3. This Act shall become effective upon enactment.

Approved June 30, 1997