Delaware Code Title 6 Sec. 17-1205 – Periodic statements and third-party certification
A statutory public benefit limited partnership shall no less than biennially provide its limited partners with a statement as to the limited partnership’s promotion of the public benefit or public benefits set forth in its partnership agreement and certificate of limited partnership and as to the best interests of those materially affected by the limited partnership’s conduct. The statement shall include:
(1) The objectives that have been established to promote such public benefit or public benefits and interests;
(2) The standards that have been adopted to measure the limited partnership’s progress in promoting such public benefit or public benefits and interests;
(3) Objective factual information based on those standards regarding the limited partnership’s success in meeting the objectives for promoting such public benefit or public benefits and interests; and
(4) An assessment of the limited partnership’s success in meeting the objectives and promoting such public benefit or public benefits and interests.
Terms Used In Delaware Code Title 6 Sec. 17-1205
- Certificate of limited partnership: means the certificate referred to in § 17-201 of this title, and the certificate as amended. See Delaware Code Title 6 Sec. 17-101
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Partnership agreement: means any agreement, written, oral or implied, of the partners as to the affairs of a limited partnership and the conduct of its business. See Delaware Code Title 6 Sec. 17-101