CHAPTER 363

FORMERLY

SENATE BILL NO. 491

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 §391(a)(2), §391(a)(3) and §391(a)(4), Title 8, of the Delaware Code by striking said subparagraphs in their entireties and substituting in lieu thereof the following:

"(2) Upon the receipt for filing of a certificate of amendment of certificate of incorporation, or a certificate of amendment of certificate of incorporation before payment of capital, or a restated certificate of incorporation, increasing the authorized capital stock of a corporation, the tax shall be an amount equal to the difference between the tax (computed at the foregoing rates) upon the total authorized capital stock of the corporation including the proposed increase, and the tax (computed at the foregoing rates divided by two, unless the authorized capital was established June 18, 1990, or later in which case the foregoing rates will apply) upon the total authorized capital stock excluding the proposed increase. In no case shall the amount paid be less than $30."

"(3) Upon the receipt for filing of a certificate of amendment of certificate of incorporation before payment of capital and not involving an increase of authorized capital stock, or an amendment to the certificate of incorporation not involving an increase of authorized capital stock, or a restated certificate of incorporation not involving an increase of authorized capital stock, or a certificate of retirement of stock, the tax to be paid shall be $30. For all other certificates relating to corporations, not otherwise provided for, the tax to be paid shall be $5. In case of corporations created solely for religious or charitable purposes no tax shall be paid."

"(4) Upon the receipt for filing of a certificate of merger or consolidation of 2 or more corporations, the tax shall be an amount equal to the difference between the tax (computed at the foregoing rates) upon the total authorized capital stock of the corporation created by the merger or consolidation, and the tax (so computed and divided by two, unless the authorized capital was established June 18, 1990, or later in which case the foregoing rates will apply) upon the aggregate amount of the- total authorized capital stock of the constituent corporations. In no case shall the amount paid be less than $75. The foregoing tax shall be in addition to any tax or fee required under any other law of this State to be paid by any constituent entity that is not a corporation in connection with the filing of the certificate of merger or consolidation."

Approved July 16, 1990.