CHAPTER 229

FORMERLY

HOUSE BILL NO. 628

AS AMENDED BY SENATE AMENDMENT NO. 1

AN ACT TO AMEND TITLE 8 OF THE DELAWARE CODE RELATING TO CERTAIN FEES AND CHARGES PAYABLE TO THE SECRETARY OF STATE.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE (three-fifths of all members elected to each House thereof concurring therein):

Section 1. Amend Section 371, Title 8 of the Delaware Code by deleting the phrase 150", as it appears therein and substituting therein the phrase "$80."

Section 2. Amend Section 391(a)(1), Title 8 of the Delaware Code by deleting it in its entirety and substituting therein the following:

"(1) Upon the receipt for filing of an original certificate of incorporation, the tax shall be computed on the basis of two cents for each share of authorized capital stock having par value up to and including 20,000 shares, one cent for each share in excess of 20,000 shares up to and including 200,000 shares, and two-fifths of a cent for each share in excess of 200,000 shares; one cent for each share of authorized capital stock without par value up to and including 20,000 shares, one-half of a cent for each share in excess of 20,000 shares up to and including 2,000,000 shares, and two-fifths of a cent for each share in excess of 2,000,000 shares. In no case shall the amount paid be less than $15. For the purpose of computing the tax on par value stock each $100 unit of the authorized capital stock shall be counted as one taxable share."

Section 3. Amend Section 391(a)(2), Title 8 of the Delaware Code by deleting the phrase "$15" as it appears therein and substituting therein the phrase "$30."

Section 4. Amend Section 391(a)(3), Title 8 of the Delaware Code by deleting the phrase 115" as it appears therein and substituting therein the phrase "$30."

Section 5. Amend Section 391(a)(4), Title 8 of the Delaware Code by deleting the phrase "$20" as it appears therein and substituting therein the phrase "$75."

Section 6. Amend Section 391(a)(5), Title 8 of the Delaware Code by deleting the phrase "$10" as it appears therein and substituting therein the phrase "$40."

Section 7. Amend Section 391(a)(7), Title 8 of the Delaware Code by deleting the phrase "$25" as it appears therein and substituting therein the phrase "$50" and by adding the following sentence at the end of Section 391(a)(7):

The fee in the case of a certificate of incorporation filed in accordance with Section 102 shall be $25.

Section 8. Amend Section 391(a)(10), Title 8 of the Delaware Code by deleting the phrase "$10" as it appears therein and substituting therein the phrase "$20" and by adding the following sentence at the end of Section 391(a)(10):

The fee for issuing the first certified copy upon the filing of a certificate of incorporation in accordance with Section 102 shall be $10.

Section 9. Amend Section 391(a)(11), Title 8 of the Delaware Code by deleting the phrase "$10" as it appears therein and substituting therein the phrase "$20."

Section 10. Amend Section 391(a)(17), Title 8 of the Delaware Code by deleting the phrase "$10" as it appears therein and substituting therein the phrase "$20."

Section 11. Amend Section 391(a), Title 8 of the Delaware Code by adding a new subsection to be designated "(23)", as follows:

"(23) For accepting a corporate name reservation via telephone, there shall be collected by and paid to the Secretary of State a fee of $10."

Section 12. Amend Section 502, Title 8 of the Delaware Code by adding a new subsection to be designated "g" as follows:

"(g) The Secretary of State shall not issue certificates of good standing that pertain to any corporation that has an unpaid franchise tax balance due to the state."

Section 13. Amend Section 372(d), Title 8 of the Delaware Code by deleting the phrase 125" as it appears therein and substituting therein the phrase "$50"; and by deleting the phrase "$10" as it appears therein and substituting therein the phrase "$20.

Section 14. This Act shall become effective on June 18, 1990 or upon signature of the Governor, whichever shall later occur.

Approved June 12, 1990.