Delaware Code Title 5 Sec. 1522 – Revocation of charter for failure to commence business within 6 …
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Every corporation created under this chapter shall within 6 months from the date of its incorporation be actively engaged in the business for which it was created or its certificate of incorporation and corporate franchise shall be deemed and held to be revoked.
Terms Used In Delaware Code Title 5 Sec. 1522
- 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.