On or before June 30 in each year, the Secretary of State shall report to the Governor a list of all the corporations, which for 1 year next preceding such report, have failed, neglected or refused to pay the franchise taxes assessed against them or due by them, or to file a complete annual franchise tax report, under the laws of this State, and the Governor shall forthwith issue a proclamation declaring that the charters of these corporations are repealed.
Structure Delaware Code
Chapter 5. CORPORATION FRANCHISE TAX
§ 501. Corporations subject to and exempt from franchise tax.
§ 503. Rates and computation of franchise tax.
§ 505. Review and refund; jurisdiction and power of the Secretary of State; appeal.
§ 506. Fund for payment of refunds.
§ 507. Collection of tax; preferred debt.
§ 508. Injunction against exercise of franchise or transacting business.
§ 509. Further remedy in Court of Chancery; appointment of receiver or trustee; sale of property.
§ 511. Repeal of charters of delinquent corporations; report to Governor and proclamation.
§ 512. Filing and publication of proclamation.
§ 513. Acting under proclaimed charter; penalty.
§ 514. Mistakes in proclamation; correction.
§ 515. Annual report of Secretary of State.
§ 516. Retaliatory taxation and regulation; imposition.
§ 517. Duties of Attorney General.
§ 518. Relief for corporations with assets in certain unfriendly nations.