Delaware § 1185 Waiver of interest and penalty [For application of this section, see 83 Del. Laws, c. 59, § 25]

Delaware Statutes

§ 1185 — Waiver of interest and penalty [For application of this section, see 83 Del. Laws, c. 59, § 25]

Delaware § 1185

JurisdictionDelaware

Title12

PartDescent and Distribution; Escheat

Ch. 11ESCHEATS

Subch.Unclaimed Property

This text of Delaware § 1185 (Waiver of interest and penalty [For application of this section, see 83 Del. Laws, c. 59, § 25]) is published on Counsel Stack Legal Research, covering Delaware primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Del. Code tit. 12, § 1185 (2026).

Text

(a)The State Escheator may, for good cause, waive, in whole or in part, interest and penalties under § 1183 or § 1184 of this title, subject to the following requirements:

(1)Except as provided in (a)(2) of this section, interest must be no less than 20% per incident for any holder who receives a notice of examination after August 1, 2021.

(2)Interest must be 1% per incident for any holder who receives a notice of examination after August 1, 2021, who completes and remits payment pursuant to a Department of Finance expedited examination process under § 1172(c) of this title.

(3)For the purposes of this section, “per incident” means the total past-due examination liability, including any estimated liability under § 1176(a) of this title.

(4)The State Escheator shall not waive inter

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(a) The State Escheator may, for good cause, waive, in whole or in part, interest and penalties under § 1183 or § 1184 of this title, subject to the following requirements:

(1) Except as provided in (a)(2) of this section, interest must be no less than 20% per incident for any holder who receives a notice of examination after August 1, 2021.

(2) Interest must be 1% per incident for any holder who receives a notice of examination after August 1, 2021, who completes and remits payment pursuant to a Department of Finance expedited examination process under § 1172(c) of this title.

(3) For the purposes of this section, “per incident” means the total past-due examination liability, including any estimated liability under § 1176(a) of this title.

(4) The State Escheator shall not waive interest and penalties for any examination initiated pursuant to information provided by a whistleblower, provided that the whistleblower and any of its agents and counsel have complied with the obligations set forth in the written agreement required by § 1191(a) of this title.

(b) The Secretary of State may waive interest due on outstanding unpaid amounts reported through the Secretary of State’s voluntary disclosure program pursuant to § 1173 of this title.

(c) [Repealed.]