If any corporation, accepting the Constitution of this State and coming under Chapter 1 of this title, or any corporation which has heretofore filed or may hereafter file a certificate of incorporation under said chapter, neglects or refuses for 1 year to pay the State any franchise tax or taxes, which has or have been, or shall be assessed against it, or which it is required to pay under this chapter, or shall neglect or refuse to file a complete annual franchise tax report, the charter of the corporation shall be void, and all powers conferred by law upon the corporation are declared inoperative, unless the Secretary of State, for good cause shown, shall have given further time for payment of the tax or taxes or the completion of an annual franchise tax report, in which case a certificate thereof shall be filed in the office of the Secretary of State stating the reason therefor. On or before November 30 in each year, the Secretary of State shall notify each corporation which has neglected or refused to pay the franchise tax or taxes assessed against it or becoming due during the year or has refused or neglected to file a complete annual franchise tax report, that the charter of the corporation shall become void unless such taxes are paid and such complete annual franchise tax report is filed on or before March 1 of the following year.

21 Del. Laws, c. 166, § ?10; 22 Del. Laws, c. 15, § ?9; 27 Del. Laws, c. 21, § ?2; Code 1915, § ?111; 36 Del. Laws, c. 6, § ?10; Code 1935, § ?105; 44 Del. Laws, c. 3, § ?2; 8 Del. C. 1953, § ?510; 55 Del. Laws, c. 90, § ?1; 57 Del. Laws, c. 712, §§ ?3-5; 58 Del. Laws, c. 450, § ?6; 71 Del. Laws, c. 339, § ?104; 75 Del. Laws, c. 306, § ?23;

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Terms Used In Delaware Code Title 8 Sec. 510

  • 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.
  • State: means the State of Delaware; and when applied to different parts of the United States, it includes the District of Columbia and the several territories and possessions of the United States. See Delaware Code Title 1 Sec. 302
  • Year: means a calendar year, and is equivalent to the words "year of our Lord. See Delaware Code Title 1 Sec. 302