Delaware Code Title 21 Sec. 2338 – Duration of liens in favor of firms which cease to do business
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Any lien recorded in favor of a firm or corporation which, since the recording of such lien, has dissolved, ceased to do business or gone out of business for any reason, and which remains of record as a lien of such firm or corporation for a period of more than 3 years from the date of the recording thereof shall become null and void and of no further force and effect.
Code 1915, § ?254K; 32 Del. Laws, c. 8; 34 Del. Laws, c. 17; 35 Del. Laws, c. 9, § ?1; 40 Del. Laws, c. 32; Code 1935, § ?5573; 21 Del. C. 1953, § ?2336;
Terms Used In Delaware Code Title 21 Sec. 2338
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Lien: A claim against real or personal property in satisfaction of a debt.