RULES OF THE SUPREME COURT OF THE STATE OF DELAWARE
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determine all rights with respect to the matters covered therein.
(iv) Distribution upon dissolution. —Upon the dissolution of the trust, the trust assets shall be distributed by this Court either to the
Treasury of the State of Delaware or to any organization or organizations designated by this Court, contributions to which are deductible
under § 170 of the Internal Revenue Code of 1954.
Rule 67. Professional Organizations.
(a) Rights and restrictions of Professional Organizations. —Attorneys may form (i) professional service corporations for the practice of
law under The Delaware Professional Service Corporation Act (8 Del. C., ch. 6), as amended from time to time and any successor statute
thereto (the “Delaware Professional Service Corporation Act”), (ii) general partnerships, including limited liability partnerships, for the
practice of law under the Delaware Revised Uniform Partnership Act (6 Del. C., ch. 15), as amended from time to time and any successor
statute thereto (the “Delaware Uniform Partnership Law”), (iii) limited partnerships, including limited liability limited partnerships, for
the practice of law under the Delaware Revised Uniform Limited Partnership Act (6 Del. C., ch. 17), as amended from time to time and
any successor statute thereto (the “Delaware Revised Uniform Limited Partnership Act”), and (iv) limited liability companies for the
practice of law under the Delaware Limited Liability Company Act (6 Del. C., ch. 18), as amended from time to time and any successor
statute thereto (the “Delaware Limited Liability Company Act”). If any attorneys in such professional service corporations, general
partnerships, limited liability partnerships, limited partnerships, limited liability limited partnerships and limited liability companies
practice law in Delaware, then such professional service corporations, general partnerships, limited liability partnerships, limited
partnerships, limited liability limited partnerships and limited liability companies (“Domestic Professional Organizations”) shall be
operated in accordance with the provisions of this Rule. Attorneys may practice law in Delaware in a similar professional organization
formed pursuant to the laws of a jurisdiction other than Delaware (“Foreign Professional Organization” and, together with Domestic
Professional Organization, “Professional Organization”), and the laws of such other jurisdiction shall govern its (i) organization, (ii)
internal affairs and (iii) the liabilities of its shareholders, partners or members (defined collectively as “members”), provided that such
Foreign Professional Organization is operated in accordance with the applicable provisions of this Rule, including the financial
responsibility requirements of subsection (h) of this Rule. Whether or not the provisions of this Rule are set forth in the organizational
documents of a Foreign Professional Organization, they are applicable and binding by operation of this Rule. If no attorneys in a
professional service corporation, general partnership, limited liability partnership, limited partnership, limited liability limited partnership
or limited liability company practice law in Delaware, then this Rule is not applicable to such attorneys or to such professional service
corporation, general partnership, limited liability partnership, limited partnership, limited liability limited parnership or limited liability
company.
(b) Name of Professional Organization. —The name of a Professional Organization operating in accordance with this Rule shall always
meet the ethical standards for the names of law firms established by The Delaware Lawyers’ Rules of Professional Conduct.
(c) Powers and governance of Professional Organizations. —A Domestic Professional Organization may exercise the powers and
privileges conferred upon it by the laws of Delaware only in furtherance of and subject to its purposes which shall be limited to conducting
the practice of law as permitted by The Delaware Lawyers’ Rules of Professional Conduct and these rules. Except as expressly provided
herein, Domestic Professional Organizations, including the liability of shareholders, partners and members for the debts and obligations
of Domestic Professional Organizations, shall be subject to and governed by The Delaware Professional Service Corporation Act, the
Delaware Uniform Partnership Law, the Delaware Revised Uniform Limited Partnership Act or the Delaware Limited Liability Company
Act, as the case may be; provided, however, persons who do not meet the qualifications of Bar membership set forth in subsection (d) of
this rule shall not exercise any authority whatsoever over professional matters.
(d) Bar membership. —All shareholders, partners and members of, and all attorneys employed by, a Professional Organization who
practice law in Delaware shall be members of the Bar of this Court. All attorneys employed by a Foreign Professional Organization for
the practice of law outside of Delaware, and all shareholders, partners or members of such a Foreign Professional Organization who are
not members of the Bar of this Court, shall be admitted to practice in the highest court of a state other than Delaware or territory of the
United States or the District of Columbia or licensed to practice law under the laws of another jurisdiction other than a state or territory
of the United States or the District of Columbia.
(e) Successor ownership. —Upon the death, ineligibility, removal, withdrawal or resignation of a shareholder, partner or member of a
Domestic Professional Organization, such person or the estate of such person shall dispose of all of his or her shares or interests in the
Domestic Professional Organization forthwith, either to the Domestic Professional Organization or to any person having the qualifications
described in subsection (d).
(f) Filing requirements. —If not already filed, a Professional Organization shall file with the Clerk of the Court within 30 days of the
date this Rule becomes applicable to such Professional Organization a certified copy of the original certificate of incorporation, statement
of qualification as a limited liability partnership or limited liability limited partnership, certificate of formation or similar document, as
the case may be, and all amendments thereto and restatements or renewals thereof. After the initial filing of such organizational documents