Delaware Statutes

§ 1522 — Revocation of charter for failure to commence business within 6 months

Delaware·Title 5·Part Banks and Trust Companies·Ch. 15 CREDIT CARD INSTITUTIONS·Subch. Formation
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.

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Legislative History

70 Del. Laws, c. 112, § 77

Nearby Sections

15
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