Changes to the Delaware Limited Liability Company Act Affecting Commercial Real Estate Lending

Spring 2019


On July 23, 2018, Delaware GovernorJohn Carney signed into law Senate BillNo. 183, which amends the DelawareLimited Liability Company Act (the“DLLCA”). The legislation addresses anumber of aspects of a Delaware limitedliability company (a “DelawareLLC”); however, the amendments mostaffecting commercial real estate lendingare the creation of a new type ofDelaware series limited liability companiesknown as a “registered series”and the establishment of a process fordividing a Delaware LLC into multipleDelaware LLCs.

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