§ 18-1203 Certain amendments and mergers; votes required.

6 DE Code § 18-1203 (2019) (N/A)

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Notwithstanding any other provision of this chapter, a statutory public benefit limited liability company may not, without the approval of members who own at least 2/3 of the then-current percentage or other interest in the profits of the limited liability company owned by all members:

(1) Amend its certificate of formation to delete or amend a provision required by § 18-1202(a) of this title;

(2) Merge or consolidate with or into another entity or divide into 2 or more domestic limited liability companies if, as a result of such merger, consolidation or division, the limited liability company interests in such limited liability company would become, or be converted into or exchanged for the right to receive, limited liability company interests or other equity interests in a domestic or foreign limited liability company or other entity that is not a statutory public benefit limited liability company or similar entity, the certificate of formation or limited liability company agreement (or similar governing document) of which does not contain provisions identifying a public benefit or public benefits comparable in all material respects to those set forth in the certificate of formation of such limited liability company as contemplated by § 18-1202(a) of this title; or

(3) Cease to be a statutory public benefit limited liability company under the provisions of this subchapter.

81 Del. Laws, c. 357, § 34.

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§ 18-1202 Statutory public benefit limited liability company defined; contents of certificate of formation and limited liability company agreement.

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§ 18-1204 Duties of members or managers.