CHAPTER 246

FORMERLY

HOUSE BILL NO. 467

AN ACT TO AMEND TITLES 8, 6 AND 12 OF THE DELAWARE CODE RELATING TO CORPORATE FEES AND PENALTIES, LIMITED PARTNERSHIPS AND BUSINESS TRUSTS.

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)(8), Title 8 of the Delaware Code by deleting the symbol and number "$40" and substituting the symbol and number "$50" and by inserting at the end of said paragraph the following:

"In the event of neglect, refusal or failure on the part of any foreign corporation to file the annual report with the Secretary of State on or before the 30th day of June each year, the corporation shall pay a penalty of $50."

Section 2. Amend §391(c), Title 8 of the Delaware Code by deleting the phrase "a fee of $1 per page shall be paid therefor" as it appears at the end of the first sentence and substitute in lieu thereof the phrase "a fee of $5 shall be paid for the first page and $1.00 for each additional page".

Section 3. Amend §391(h), Title 8 of the Delaware Code by deleting the phrase "subsection (a)" wherever it appears in subsection (h) and substituting in lieu thereof the phrase "subsections (a) and (c)".

Section 4. Amend §504(c), Title 8 of the Delaware Code by deleting the phrase "1 percent" and substituting in lieu thereof the phrase "1 1/2 percent".

Section 5. Amend §17-1109(b), Title 6 of the Delaware Code by deleting the number and symbol "1%" and substituting in lieu thereof the number and symbol "1 1/2%".

Section 6. Amend §3813, Title 12 of the Delaware Code by redesignating subsection "(b)" as subsection "(c)" and by adding the following new subsection (b):

"(b) In addition to those fees charged under subsection (a) of this section, there shall be collected by and paid to the Secretary of State the following:

For all services described in subsection (a) of this section that are requested to be completed within the same day as the day of the request, an additional sum of up to $200; and

For all services described in subsection (a) of this section that are requested to be completed within a 24—hour period from the time of the request, an additional sum of up to $100.

The Secretary of State shall establish (and may from time to time alter or amend) a schedule of specific fees payable pursuant to this subsection."

Approved May 15, 1992.