Delaware lawmakers broaden the authority of alternative entity principals to delegate rights
The Delaware General Assembly enacted new legislation during the 2021 session that allows members, managers, and partners (i.e. principals) of LLCs or partnerships, as the case may be, to delegate rights, powers, or duties to someone else, even if such principal has a conflict of interest. The change creates a rule different from the one applied by the Delaware Court of Chancery in Wenske v. Bluebell Creameries, Inc....