CHAPTER 102

CORPORATION FRANCHISE TAX

AN ACT TO AMEND CHAPTER 5, TITLE 8 OF THE DELAWARE CODE RELATING TO CORPORATION FRANCHISE TAX.

Be it enacted by the General Assembly of the State of Delaware:

Section 1. Chapter 5, Title 8 of the Delaware Code is amended by striking out subsection (a) of § 502 thereof and substituting and enacting in lieu thereof the following new subsection:

(a) Annually on or before the first Tuesday in January, every corporation now existing or hereafter incorporated under Chapter 1 of this title or which has accepted the provisions of the Constitution of this State, shall make an annual report to the Secretary of State. The report shall be signed by the corporation's president, secretary, treasurer or other proper officer duly authorized so to act, or by any two of its directors, or by any two incorporators in the event its board of directors shall not have been elected. The fact that an individual's name is signed on a certification attached to a corporate report shall be prima facie evidence that such individual is authorized to certify the report on behalf of the corporation; however, the official title or position of the individual signing the corporate report shall be designated. The report shall contain the following information: the location of its principal office in this State, stated with the degree of particularity required by subsection (a) (2) of section 102 of this title; the name of the agent upon whom service of process against the corporation may be served; the location or locations (city or cities, town or towns, street or streets and number of same, if number there be) of the place or places of business of the corporation without this State; the names and addresses of all the directors and officers of the corporation and when the terms of each expire; the date appointed for the next annual meeting of the stockholders for the election of directors; the number of shares and the par value per share of each class of capital stock having a par value and the number of shares of each class of stock without par value which the corporation is authorized to issue and the number of shares of each class of stock actually issued, if any; the amount of capital invested in real estate and manufacturing in this State, and the taxes paid thereon; and, if exempt from taxation for any cause, the specific facts entitling the corporation to exemption from taxation.

Approved May 22, 1957.