AN ACT TO AMEND CHAPTER 15, TITLE 6 OF THE DELAWARE CODE RELATING TO THE CREATION, REGULATION, OPERATION AND DISSOLUTION OF DOMESTIC PARTNERSHIPS AND THE REGISTRATION AND REGULATION OF FOREIGN LIMITED LIABILITY PARTNERSHIPS.
"(c) Sections 9-406 and 9-408 of this Title do not apply to any interest in a domestic partnership, including all rights, powers and interests arising under a partnership agreement or this chapter. This provision prevails over Sections 9-406 and 9-408 of this title."
Section 2. Amend § 15-1001, Chapter 15, Title 6 of the Delaware Code by adding a new subsection (i) thereto as follows:
"(i) Notwithstanding anything in this chapter to the contrary, a domestic partnership having, or that, but for its election in accordance with Section 15-1206(c) of this Chapter, would have had, on December 31, 2001, the status of a registered limited liability partnership under predecessor law, shall have the status of a limited liability partnership under this chapter as of January 1, 2002, and, to the extent such partnership has not filed a statement of qualification pursuant to this section, the latest application or renewal application filed by such partnership under such predecessor law shall constitute a statement of qualification filed under this section."
Section 3. Amend § 15-1003, Chapter 15, Title 6 of the Delaware Code by deleting subsection (b) thereof in its entirety and substituting in lieu thereof the following subsection (b):
"(b) An annual report must be filed by the first day of June of each year following the calendar year in which a statement of qualification filed by a partnership becomes effective or a foreign partnership becomes authorized to transact business in the State of Delaware.".
Section 4. This Act shall become effective February 1, 2002.