§ 3884 — Acquiring person statement

Delaware § 3884

• Jurisdiction: Delaware
• Title: 12
• Part: Fiduciary Relations
• Ch. 38: TREATMENT OF DELAWARE STATUTORY TRUSTS
• Subch.: Control Beneficial Interest Acquisitions

Text

Any person who proposes to make or who has made a control beneficial interest acquisition may deliver an acquiring person statement to the statutory trust at the statutory trust’s principal office. The acquiring person statement shall set forth all of the following:

(1) The identity of the acquiring person and each other member of any group of which the acquiring person is a part for purposes of determining control beneficial interests;

(2) A statement that the acquiring person statement is given under this subchapter;

(3) The number of beneficial interests of the statutory trust owned (directly or indirectly) by the acquiring person and each other member of any group of which the acquiring person is a part;

(4) The applicable range of voting power as set forth in § 3881(e) of this title; and

(5) If the control beneficial interest acquisition has not occurred:

a. A description in reasonable detail of the terms of the proposed control beneficial interest acquisition; and

b. Representations of the acquiring person, together with a statement in reasonable detail of the facts on which they are based, that:

1. The proposed control beneficial interest acquisition, if consummated, will not be contrary to law; and

2. The acquiring person has the financial capacity, through financing to be provided by the acquiring person and any additional specified sources of financing required under § 3886 of this title, to make the proposed control beneficial interest acquisition.

Legislative History

83 Del. Laws, c. 381, § 19