Delaware Disclaimer of All Rights Under Operating Agreement by Successor to Party to Agreement
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How to fill out Disclaimer Of All Rights Under Operating Agreement By Successor To Party To Agreement?
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Indemnification. Subject to such standards and restrictions, if any, as are set forth in its limited liability company agreement, a limited liability company may, and shall have the power to, indemnify and hold harmless any member or manager or other person from and against any and all claims and demands whatsoever.
Likewise, under Section 18- 1101(e) of the act, a limited liability company agreement may limit or eliminate liability for breach of fiduciary duties of a person to the company, a member, manager or other person bound by the agreement, subject to certain limitations.
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The rights, privileges, powers and interest in property of the corporation that has converted, as well as the debts, liabilities and duties of such corporation, shall not be deemed, as a consequence of the conversion, to have been transferred to the other entity or business form to which such corporation has converted ...
Delaware's LLC law requires all Delaware LLCs to have an Operating Agreement. Delaware allows the LLC Operating Agreement to be a verbal agreement. However, having a written LLC Operating Agreement is the only way to make the agreement enforceable.
§ 276. Dissolution of nonstock corporation; procedure. (a) Whenever it shall be desired to dissolve any nonstock corporation, the governing body shall perform all the acts necessary for dissolution which are required by § 275 of this title to be performed by the board of directors of a corporation having capital stock.
Section 262 of the DGCL has been amended to (i) expand the transactions pursuant to which statutory appraisal rights are available in order to include transfers, domestications, and continuances and (ii) require that withdrawal of a demand for appraisal rights be made within 60 days following the effective date of the ...
Section 362 - Public benefit corporation defined; contents of certificate of incorporation (a) A public benefit corporation is a for-profit corporation organized under and subject to the requirements of this chapter that is intended to produce a public benefit or public benefits and to operate in a responsible and ...
