Delaware Revised Uniform Limited Partnership Act (DRUPLA)

Delaware statute governing limited partnerships (LPs). The Revised Act is largely a series of “default rules” that prescribes how partners should act in situations they have not addressed in a partnership agreement. The primary focus of DRUPA is the small, often informal, partnership.

The Revised Act enhances the entity treatment of partnerships to achieve simplicity for state law purposes, particularly in matters concerning title to partnership property.