Examples of Delaware LLCs in a sentence
Indeed, the General Assembly passed the LLC Act as a broad enactment in derogation of the common law, and it acknowledged as much.34 Consequently, when adjudicating the rights, remedies, and obligations associated with Delaware LLCs, courts must look to the LLC Act because it is only the statute that creates those rights, remedies, and obligations.
Carter, Asserting Breach-of-Fiduciary-Duty Claims in the Context of Delaware LLCs, Am. Bankr.
The owners of Delaware LLCs are called “members.” An LLC may be formed by an agent who is not a member (e.g., a lawyer) on behalf of the members.
For reasons discussed in the opinion, I explain that the LLC agreement here does not displace the traditional duties of loyalty and care that are owed by managers of Delaware LLCs to their investors in the absence of a contractual provision waiving or modifying those duties.
Chapter 18 of Title 6 of the Delaware Code provides default provisions applicable to Delaware LLCs where the parties’ agreement is silent; where they have provided otherwise, with limited exceptions,1 such agreements will be honored by a reviewing court.Here, the parties agreed to reject all default provisions, and expressly limited members’ rights to those provided in the LLC Agreement.
Carter, Asserting Breach-of-fiduciary-duty Claims in the Context of Delaware LLCs, Am. Bankr.
The plaintiff, GxG Management LLC, filed a motion to join a real party in interest, namely GxG Management LLC (Series B), a "series" of limited liability company "interest" certified by GxG Management LLC pursuant to a Delaware statute that authorizes Delaware LLCs to establish one or more "series" of "limited liability company interests having separate rights, powers or duties with respect to specified property or obligations of the limited liability company." 6 Del.
The parties agree that Delaware law governs these claims, which concern the relationships between the members and managers of two Delaware LLCs. (Defs.’ Br. in Supp.
It would also open up a vast inner realm of exploration, including great improvements in health, lifespan, and subjective well-being, novel and enhanced cognitive capacities, enriched life experiences, deeper understanding of oneself and others, and refinements in almost any aspect of being that we choose to cultivate (Pearce, 1995; Bostrom, 2005; Bostrom, 2008).
It is possible, and perhaps even likely, however, that the date will not be known and must be determined from the data.