12 Del. C. § 201 — Delaware Code / Title 12 / Chapter 2 / Subchapter I / Section 201
§ Â
        201. Who may make a will.
Status: in_force

Any person of the age of 18 years, or upwards, of sound and disposing mind and memory, may make a will of real and personal estate. No person under the age of 18 years shall be capable of making a will either of real or personal estate.
12 Del. C. § 1909 — Delaware Code / Title 12 / Chapter 19 / Section 1909
§ Â
        1909. Executorâs debt to decedent.
Status: in_force

The making of a person executor shall not extinguish any demand of the decedent against said person, but the same shall be truly inserted in the list of debts.
12 Del. C. § 4305 — Delaware Code / Title 12 / Chapter 43 / Section 4305
§ Â
        4305. Adverse claims.
Status: in_force

(a) A person asserting a claim of beneficial interest adverse to the transfer of a security pursuant to an assignment by a fiduciary may give the corporation or transfer agent written notice of the claim. The corporation or transfer agent is not put on notice unless the written notice identifies the claimant, the registered owner and the issue of which the security is a part, provides an address for communications directed to the claimant and is received before the transfer. Nothing in this chapter relieves making or refusing to make the transfer after it is so put on notice, unless it proceeds in the manner authorized in subsection (b) of this section.

(b) As soon as practicable after the presentation of a security for transfer pursuant to an assignment by a fiduciary, a corporation or transfer agent which has received notice of a claim of beneficial interest adverse to the transfer may send notice of the presentation by registered or certified mail to the claimant at the address given by the claimant. If the corporation or transfer agent so mails such a notice, it shall withhold the transfer for 30 days after the mailing and shall then make the transfer unless restrained by a court order.
12 Del. C. § 3102 — Delaware Code / Title 12 / Chapter 31 / Subchapter I / Section 3102
§ Â
        3102. Action by infant legatee.
Status: in_force

An infant legatee may sue for the legacy by guardian or next friend, as in other cases.
12 Del. C. § 4002 — Delaware Code / Title 12 / Chapter 40 / Section 4002
§ Â
        4002. Purpose, scope and organization.
Status: in_force

(a) The Delaware CarePlan Trust is intended to encourage supplementation and augmentation of those services provided by local, state and federal government agencies for persons with disabilities. It will provide a method to assure ongoing individualized support for a person with a disability. Assets contributed by or on behalf of a person with a disability will be available for the use and benefit of such participant. Assets of participants may be pooled to provide efficient management.

(b) This chapter shall be liberally construed and applied to promote its underlying purposes and policies, including, but not limited, to:

(1) Encourage the orderly establishment of the Delaware CarePlan Trust for the benefit of persons with disabilities;

(2) Ensure that the Delaware CarePlan Trust is administered properly and that its Board is free from conflicts of interest;

(3) Facilitate the sound administration of contributions on behalf of persons with disabilities by allowing family members and other interested persons to obtain professional investment management, which may entail pooling of contributions;

(4) Provide families and other interested persons peace of mind in knowing that a means exists to support and assist persons with disabilities and provide efficient management of assets;

(5) Make guardians available for persons with disabilities as needed;

(6) Encourage the availability of resources for the supplemental needs of persons with disabilities that are not available through any governmental or charitable program;

(7) Encourage the inclusion of indigent persons with disabilities as beneficiaries of the Delaware CarePlan Trust if and when funds are available for such persons; and

(8) Encourage families and other interested persons to set aside funds for the future protection of persons with disabilities by ensuring that the interest of persons with disabilities in the Delaware CarePlan Trust are not considered assets or income that would disqualify them from any governmental program with an economic means test.

(c) The Delaware CarePlan Trust shall be organized as a nongovernmental nonprofit organization pursuant to Delaware law.
12 Del. C. § 3311 — Delaware Code / Title 12 / Chapter 33 / Section 3311
§ Â
        3311. Deposit of securities in clearing corporation.
Status: in_force

(a) Except as otherwise provided by the terms of the governing instrument, a bank or trust company may deposit or arrange for the deposit of in a clearing corporation securities held by it as fiduciary or as agent for a fiduciary or nonfiduciary, provided the records maintained with respect to those securities by such bank or trust company disclose the capacity in which they are held and provided there is no written objection from either a cofiduciary or the person for whom it is acting as agent.

(b) Securities deposited in a clearing corporation may be registered in the name of either the clearing corporation or its nominee without disclosing the capacity in which they are held.

(c) Securities deposited in a clearing corporation may be stored together with other securities of the same class of the same issuer also stored in the clearing corporation (but not the securities of the clearing corporation) and may be combined with such other securities into 1 or more securities of the same class of the same issuer.
12 Del. C. § 1543 — Delaware Code / Title 12 / Chapter 15 / Subchapter III / Section 1543
§ Â
        1543. Rights of coexecutor, coadministrator or successor upon death or removal.
Status: in_force

Whenever an executor or administrator is removed or dies before the estate of the deceased is closed, a coexecutor or coadministrator, or if there be none such, a successor, shall be entitled to receive all the unadministered effects, including books and papers, which, at the time of such removal or death, shall be in the executor’s or administrator’s hands, or for which the executor or administrator is answerable, just allowances being made.
12 Del. C. § 3106 — Delaware Code / Title 12 / Chapter 31 / Subchapter I / Section 3106
§ Â
        3106. Costs; liability of personal representative therefor.
Status: in_force

The court shall exercise equitable powers in respect to costs. In case of inexcusable neglect or delay on the part of the executor or administrator to pay the legacy demanded or a proportional part thereof the court may order that the costs be paid by the executor or administrator. No costs shall be recovered in an action brought for a legacy without a reasonable demand for the same first made upon the executor or administrator who ought to pay the same.
12 Del. C. § 2510 — Delaware Code / Title 12 / Chapter 25 / Section 2510
§ Â
        2510. Fees.
Status: in_force

The governing body of each county shall determine the fees which shall be charged by the Register of Wills of that county.
12 Del. C. § 3829 — Delaware Code / Title 12 / Chapter 38 / Subchapter I / Section 3829
§ Â
        3829. Short title.
Status: in_force

This chapter may be cited as the “Delaware Statutory Trust Act.”
12 Del. C. § 3580 — Delaware Code / Title 12 / Chapter 35 / Subchapter VII / Section 3580
§ Â
        3580. âTrustee.â
Status: in_force

In this subchapter, the term “trustee” includes fiduciaries and other persons exercising, or directing or consenting to the exercise of, or that are required to be consulted before the exercise of, powers or duties under a trust’s governing instrument or under this title, as well as designated representatives under § 3339 of this title and enforcers under § 3556 of this title.
12 Del. C. § 269 — Delaware Code / Title 12 / Chapter 2 / Subchapter III / Section 269
§ Â
        269. Declaration â revocation of designee.
Status: in_force

Unless otherwise specified in the declaration instrument, if a declarant revokes a delegation to a person to direct the disposition of the declarant’s last remains or ceremonies after the declarant’s death, or if such person is unable or unwilling to serve, the nomination of such person shall be ineffective as to such person. If an alternate designee is not nominated by the declarant, § 264 of this title shall govern. This section shall not be construed to revoke the remaining provisions of the declaration instruments.
12 Del. C. § 3583 — Delaware Code / Title 12 / Chapter 35 / Subchapter VII / Section 3583
§ Â
        3583. Liability of trustee in absence of breach.
Status: in_force

(a) Except to the extent a trustee realizes a profit from conduct expressly permitted by law or the terms of the trust, a trustee is accountable to a beneficiary for any profit made by the trustee arising from the administration of the trust, even absent a breach of trust.

(b) Absent a breach of trust, a trustee is not liable to a beneficiary for a loss or depreciation in the value of trust property or for the failure to make a profit.
12 Del. C. § 49A-102 — Delaware Code / Title 12 / Chapter 49A / Subchapter I / Section 49A-102
§ Â
        49A-102. Definitions.
Status: in_force

In this chapter:

(1) “Agent” means a person granted authority to act for the benefit of a principal under a durable power of attorney, whether denominated an agent, attorney-in-fact, or otherwise. The term includes an original agent, concurrent agent, joint agent, successor agent, and a person to which an agent’s authority is delegated.

(2) “Durable,” with respect to a power of attorney, means not terminated by the principal’s incapacity, and satisfying the requirements set forth in § 49A-104 of this title.

(3) “Durable power of attorney” means a power of attorney that is durable, meeting the requirements of § 49A-104 of this title.

(4) “Electronic” means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities.

(5) “Good faith” means honesty in fact.

(6) “Incapacity” means inability of an individual to manage his or her property or business affairs.

(7) “Internal Revenue Code” refers to the Internal Revenue Code of 1986 [26 U.S.C. §  1 et seq.], as amended, or any corresponding federal tax statute enacted after October 1, 2010.

(8) “Person” means an individual, corporation, statutory trust, estate, trust, partnership (general or limited), limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity or association.

(9) “Personal power of attorney” means any durable power of attorney executed in this State or, if executed other than in this State, specifying that the laws of this State shall govern such power of attorney, other than those powers of attorney to which this chapter is not applicable as set forth in § 49A-103(a) of this title.

(10) “Power of attorney” means a grant of authority to an agent to act in the place of the principal, whether or not the term power of attorney is used, authorizing the agent to convey rights in property of the principal to the agent or any other person.

(11) “Presently exercisable general power of appointment,” with respect to property or a property interest subject to a power of appointment, means power exercisable at the time in question to vest absolute ownership in the principal individually, the principal’s estate, the principal’s creditors, or the creditors of the principal’s estate. The term includes a power of appointment not exercisable until the occurrence of a specified event, the satisfaction of an ascertainable standard, or the passage of a specified period only after the occurrence of the specified event, the satisfaction of the ascertainable standard, or the passage of the specified period. The term does not include a power exercisable in a fiduciary capacity, only by will, or only by an instrument determining the disposition of property upon the death of the principal.

(12) “Principal” means an individual who grants authority to an agent in a power of attorney acting for himself or herself and not as a fiduciary, officer, employee, representative, agent or official of any legal, governmental, or commercial entity or association.

(13) “Property” means anything that may be the subject of ownership, whether real or personal, or legal or equitable, or any interest or right therein.

(14) “Record” means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form.

(15) “Sign” means, with present intent to authenticate or adopt a record:

a. To execute or adopt a tangible symbol; or

b. To attach to or logically associate with the record an electronic sound, symbol, or process.

(16) “State” means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States.

(17) “Stocks and bonds” means stocks, bonds, mutual funds, and all other types of securities and financial instruments, whether held directly, indirectly, or in any other manner. The term does not include commodity futures contracts and call or put options on stocks or stock indexes.
12 Del. C. § 4705 — Delaware Code / Title 12 / Chapter 47 / Section 4705
§ Â
        4705. Delegation of management and investment functions.
Status: in_force

(a) Subject to any specific limitation set forth in a gift instrument or in law other than this chapter, an institution may delegate to an external agent the management and investment of an institutional fund to the extent that an institution could prudently delegate under the circumstances. An institution shall act in good faith, with the care that an ordinarily prudent person in a like position would exercise under similar circumstances, in:

(1) Selecting an agent;

(2) Establishing the scope and terms of the delegation, consistent with the purposes of the institution and the institutional fund; and

(3) Periodically reviewing the agent’s actions in order to monitor the agent’s performance and compliance with the scope and terms of the delegation.

(b) In performing a delegated function, an agent owes a duty to the institution to exercise reasonable care to comply with the scope and terms of the delegation.

(c) An institution that complies with subsection (a) of this section is not liable for the decisions or actions of an agent to which the function was delegated.

(d) By accepting delegation of a management or investment function from an institution that is subject to the laws of this State, an agent submits to the jurisdiction of the courts of this State in all proceedings arising from or related to the delegation or the performance of the delegated function.

(e) An institution may delegate management and investment functions to its committees, officers, or employees as authorized by law of this State other than this chapter.
12 Del. C. § 1501 — Delaware Code / Title 12 / Chapter 15 / Subchapter I / Section 1501
§ Â
        1501. Necessity for letters testamentary or of administration.
Status: in_force

No one shall act as the executor or administrator of a domiciliary decedent’s estate within this State without letters testamentary or of administration being granted in accordance with this title.
12 Del. C. § 4514 — Delaware Code / Title 12 / Chapter 45 / Section 4514
§ Â
        4514. Use of custodial property.
Status: in_force

(a) A custodian may deliver or pay to the minor or expend for the minor’s benefit so much of the custodial property as the custodian considers advisable for the use and benefit of the minor, without court order and without regard to:

(1) The duty or ability of the custodian personally or of any other person to support the minor, or

(2) Any other income or property of the minor which may be applicable or available for that purpose.

(b) On petition of an interested person or the minor, if the minor has attained the age of 14 years, the court may order the custodian to deliver or pay to the minor or expend for the minor’s benefit so much of the custodial property as the court considers advisable for the use and benefit of the minor.

(c) A delivery, payment or expenditure under this section is in addition to, not in substitution for, and does not affect any obligation of a person to support the minor.
12 Del. C. § 3922 — Delaware Code / Title 12 / Chapter 39 / Subchapter II / Section 3922
§ Â
        3922. General powers and duties of the guardian of the person.
Status: in_force

(a) The Court shall grant to the guardian of the person such powers, rights and duties which are necessary to protect, manage and care for the person with a disability. The Court may at any time change the powers of the guardian of the person.

(b) The guardian of the person may exercise the same powers, rights and duties respecting the care, maintenance and treatment of the person with a disability that a parent has respecting the parent’s own unemancipated minor child, except that the guardian of the person is not liable to third persons for acts of the person with a disability solely by reason of the guardianship relationship. Except as modified by the order of guardianship and without qualifying the foregoing, a guardian of the person has the following powers and duties:

(1) To the extent that it is consistent with the terms of any order by a court of competent jurisdiction relating to detention or commitment of the person with a disability, the guardian is entitled to custody of the person with a disability and may establish the place of abode for the person with a disability within or without this State. The guardian may not waive any right of the person with a disability respecting involuntary commitment to any facility for the treatment of mental illness or deficiency.

(2) If entitled to custody of the person with a disability, the guardian shall make provision for the care, comfort and maintenance of the person with a disability and, if appropriate, arrange for the training and education of the person with the disability. Without regard to custodial rights of the person with a disability, the guardian shall take reasonable care of the clothing, furniture, vehicle and other personal effects in the immediate possession of the person with a disability and commence guardianship of the property proceedings if other property of the person with a disability is in need of protection.

(3) The guardian may give such consent or approval as may be necessary to enable the person with a disability to receive medical or other professional care, counsel, treatment or service and shall have power to authorize release of medical records. The guardian shall not unreasonably withhold such consent or approval nor withhold such consent or approval on account of personal beliefs held by the guardian or the person with a disability, but shall take such action as the guardian objectively believes to be in the best interest of the person with a disability.

(c) A guardian of the person of a person with a disability for whom a guardian of the property also has been appointed shall control the custody and care of the person with a disability and is entitled to receive reasonable compensation for the guardian’s services and for room and board furnished to the person with a disability as approved by the Court. Compensation of the public guardian shall be governed by § 3984 of this title. The guardian of the person may request the guardian of the property to make payment to third parties or institutions for the care and maintenance of the person with a disability.

(d) The guardian of the person shall not be required to expend the guardian’s own money for the support or care of the person with a disability.
12 Del. C. § 1183 — Delaware Code / Title 12 / Chapter 11 / Subchapter II / Section 1183
§ Â
        1183. Interest and penalties.
Status: repealed

(a) Interest at 0.5% per month on outstanding unpaid amounts accrues from the date the amounts or property were due under this chapter until paid. Interest due in accordance with this subsection may not exceed 50% of the amount required to be paid. Penalties under subsection (b), (c), or (d) of this section are not interest for purposes of this subsection. This subsection applies to any late-filed unclaimed property that is reported and remitted on or after July 1, 2017.

(1), (2) [Repealed.]

(b) If a person fails to file any report required by this chapter on or before the due date prescribed for the report, determined with regard to any extension of time for filing, unless it is shown that such failure is due to reasonable cause and not wilful neglect, the person shall add to the amount of unclaimed property required to be shown on the report the lesser of 5% of the amount thereof if the failure is not for more than 1 month, with an additional 5% for each additional month or fraction thereof during which such failure continues, not to exceed 50% in the aggregate or a civil penalty of $100 for each day the report is withheld or the duty is not performed, but not more than $5,000.

(c) If a person fails to pay the amount of unclaimed property required to be shown on any report required by this chapter on or before the due date prescribed for the payment of such property, determined with regard to any extension of time for payment, unless it is shown that such failure is due to reasonable cause and not wilful neglect, the person shall add to the amount of such property required to be shown on any report 0.5% of the amount of such property if the failure is for not more than 1 month, with an additional 0.5% for each additional month or fraction thereof during which such failure continues, not to exceed 25% in the aggregate. For purposes of this subsection, the amount of property shown on any report is to be reduced by the amount of any property which is paid on or before the beginning of the month for which a calculation is made under this subsection.

(d) If any part of a deficiency in payment of unclaimed property required to be shown on any report is due to fraud, the person must add to the property required to be shown on the report an amount equal to 75% of the portion of the deficiency in payment which is attributable to fraud. The penalty prescribed by this subsection applies only in cases where a report of unclaimed property is filed and only to that part of the deficiency in payment the State Escheator establishes is due to fraud or wilful misrepresentation

(e) If the State Escheator initiates an examination pursuant to information provided by a whistleblower that results in payment from the holder or recovery of property under this chapter, the State Escheator shall award interest and penalties collected under this section to the 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.
12 Del. C. § 2507 — Delaware Code / Title 12 / Chapter 25 / Section 2507
§ Â
        2507. Deputy Register â Chief deputy; employment of deputies and clerks.
Status: in_force

(a) The Chancellor shall name a chief deputy register of wills for each county who shall perform such duties as shall from time to time be assigned by the Court of Chancery. The annual compensation of such chief deputy shall be as fixed by the New Castle County government, the Sussex County government or the Levy Court of Kent County. A Chief Deputy Register of Wills when appointed and qualified shall not be removed from office except for good and sufficient cause.

(b) The Register of Wills in each county may employ such number of deputies and clerks at such salaries as shall be fixed by the government body of such county. In Kent County, minimum qualifications may be established by the county government for each position, and said minimum qualifications and compensation and any subsequent adjustments thereto shall have the concurrence of the register of wills.
12 Del. C. § 49A-109 — Delaware Code / Title 12 / Chapter 49A / Subchapter I / Section 49A-109
§ Â
        49A-109. When personal power of attorney effective.
Status: in_force

(a) A personal power of attorney is effective when executed unless the principal provides in the personal power of attorney that it becomes effective at a future date or upon the occurrence of a future event or contingency.

(b) If a personal power of attorney becomes effective upon the occurrence of a future event or contingency, the principal, in the personal power of attorney, may authorize 1 or more persons to determine in a writing or other record that the event or contingency has occurred.

(c) If a personal power of attorney becomes effective upon the principal’s incapacity and the principal has not authorized a person or persons to determine whether the principal is incapacitated, or the person or persons authorized is or are unable or unwilling to make the determination, the personal power of attorney becomes effective upon a determination in a writing or other record by a physician or by the Court of Chancery or other court of competent jurisdiction that the principal is incapacitated.

(d) A person authorized by the principal in the personal power of attorney to determine that the principal is incapacitated may act as the principal’s personal representative pursuant to the Health Insurance Portability and Accountability Act [P.L. 104-191], §§ 1171 through 1179 of the Social Security Act, 42 U.S.C. § 1320d et seq., as amended, and applicable regulations, to obtain access to the principal’s health-care information and communicate with the principal’s health-care provider.
12 Del. C. § 210 — Delaware Code / Title 12 / Chapter 2 / Subchapter I / Section 210
§ Â
        210. Alteration, theft or destruction of will; class E felony.
Status: in_force

Whoever wilfully adds to, alters, defaces, erases, obliterates, mutilates, blots, blurs, hides, conceals, destroys, misplaces with intent to conceal or commits an act of theft of any instrument of writing purporting to be or in the nature of a last will and testament and intended to take effect upon the death of the testator, whether the person shall have been given custody or possession thereof by the testator, or shall have obtained custody or possession of the purported last will and testament in any other manner whatsoever, shall be guilty of a class E felony.
12 Del. C. § 1106 — Delaware Code / Title 12 / Chapter 11 / Subchapter I / Section 1106
§ Â
        1106. Seizure of escheated personalty.
Status: in_force

If, after hearing as provided herein, the Court finds that goods and chattels have escheated to the State and that said goods and chattels are not in the possession of the Court or the Escheator, the Escheator shall issue a writ, directed to the sheriff of the county, commanding the sheriff to seize, attach and secure such escheated goods and chattels, in whose hands the same are found, or if it is found at the aforesaid hearing that the goods and chattels or any part thereof have been eloigned, then to seize and attach so much of the goods and chattels of the person who has eloigned the same as shall be equal in value to the goods and chattels which the person eloigned.
12 Del. C. § 61-603 — Delaware Code / Title 12 / Chapter 61 / Subchapter VI / Section 61-603
§ Â
        61-603. Accounts with register of wills not affected.
Status: in_force

Nothing in this chapter shall be construed to effect or change the form of accounting required under § 2301 of this title.
12 Del. C. § 3306 — Delaware Code / Title 12 / Chapter 33 / Section 3306
§ Â
        3306. Deviation from terms of instrument.
Status: in_force

Subject to the provisions of § 3303 of this title, nothing contained in this chapter shall be construed as restricting the power of a court of proper jurisdiction to permit fiduciaries to deviate from the terms of any will, agreement or other instrument relating to the acquisition, investment, reinvestment, exchange, retention, sale or management of fiduciary property.
12 Del. C. § 607 — Delaware Code / Title 12 / Chapter 6 / Section 607
§ Â
        607. Disclaimer of rights of survivorship in jointly held property.
Status: in_force

(a) Upon the death of an owner of jointly held property:

(1) If, during the deceased owner’s lifetime, the deceased owner could have unilaterally reacquired a portion of the property attributable to the deceased owner’s contributions without the consent of the other owner or owners, a surviving owner may disclaim, in whole or in part, a fractional share of that portion of the property attributable to the deceased owner’s contribution determined by dividing the number 1 by the number of joint owners alive immediately after the death of the owner to whose death the disclaimer relates.

(2) For all other jointly held property, an owner who survives a deceased owner may disclaim, in whole or part, a fraction of the whole of the property the numerator of which is 1 and the denominator of which is the product of:

a. The number of joint owners alive immediately before the death of the owner to whose death the disclaimer relates;

b. Multiplied by the number of joint owners alive immediately after the death of the owner to whose death the disclaimer relates.

(b) A disclaimer under subsection (a) of this section takes effect as of the death of the owner of jointly held property to whose death the disclaimer relates.

(c) An interest in jointly held property disclaimed by a surviving owner of the property passes as if the disclaimant predeceased the owner to whose death the disclaimer relates.

(d) Disclaimers of interests in property not governed by this section are governed by § 606 of this title.
12 Del. C. § 3851 — Delaware Code / Title 12 / Chapter 38 / Subchapter II / Section 3851
§ Â
        3851. Law governing.
Status: in_force

Subject to the Constitution of the State:

(1) The laws of the state, territory, possession or other jurisdiction or country under which a foreign statutory trust is organized govern its organization and internal affairs and the liability of its beneficial owners and trustees; and

(2) A foreign statutory trust may not be denied registration by reason of any difference between those laws and the laws of the State.
12 Del. C. § 1102 — Delaware Code / Title 12 / Chapter 11 / Subchapter I / Section 1102
§ Â
        1102. Escheator of the State [For application of this section, see 83 Del. Laws, c. 59, Â 25.].
Status: in_force

There shall be an Escheator of the State, who shall be the Secretary of Finance or the Secretary’s delegate. The administration and enforcement of this chapter, including verification of completeness and accuracy of records relating to unclaimed property, are vested in the Secretary of Finance or the Secretary’s delegate.
12 Del. C. § 1107 — Delaware Code / Title 12 / Chapter 11 / Subchapter I / Section 1107
§ Â
        1107. Sale of seized property by sheriff.
Status: in_force

The sheriff shall sell the goods and chattels seized and attached in accordance with this subchapter at public auction, after notice as in the case of sale of goods and chattels under execution process and shall, without delay, pay over the proceeds, thence arising to the Escheator for deposit in the General Fund. The sheriff shall be accountable, as in other cases, to the Escheator for money which by virtue of this section, shall come into the sheriff’s hands.
12 Del. C. § 4503 — Delaware Code / Title 12 / Chapter 45 / Section 4503
§ Â
        4503. Nomination of custodian.
Status: in_force

(a) A person having the right to designate the recipient of property transferable upon the occurrence of a future event may revocably nominate a custodian to receive the property for a minor beneficiary upon the occurrence of the event by naming the custodian followed in substance by the words: “as custodian for (name of minor) under the Delaware Uniform Transfers to Minors Act.” The nomination may name 1 or more persons as substitute custodians to whom the property must be transferred, in the order named, if the 1st nominated custodian dies before the transfer or is unable, declines or is ineligible to serve. The nomination may be made in a will, a trust, a deed, an instrument exercising a power of appointment or in writing designating a beneficiary of contractual rights which is registered with or delivered to the payor, issuer or other obligor of the contractual rights.

(b) A custodian nominated under this section must be a person to whom a transfer of property of that kind may be made under § 4509(a) of this title.

(c) The nomination of a custodian under this section does not create custodial property until the nominating instrument becomes irrevocable or a transfer to the nominated custodian is completed under § 4509 of this title. Unless the nomination of a custodian has been revoked, upon the occurrence of the future event the custodianship becomes effective and the custodian shall enforce a transfer of the custodial property pursuant to § 4509 of this title.
12 Del. C. § 3582 — Delaware Code / Title 12 / Chapter 35 / Subchapter VII / Section 3582
§ Â
        3582. Damages against trustee for breach of trust [For application of this section, see 80 Del. Laws, c. 153, Ââ5].
Status: in_force

A beneficiary may charge a trustee who commits a breach of trust with:

(1) The amount required to restore the value of the trust property and trust distributions to what they would have been had the breach not occurred;

(2) The profit that the trustee made by reason of the breach; or

(3) Such other amount as may be determined by the court.
12 Del. C. § 1222 — Delaware Code / Title 12 / Chapter 11 / Subchapter V / Section 1222
§ Â
        1222. Proceeding to adjudicate escheat.
Status: in_force

The Secretary of State may bring proceedings in the United States District Court to escheat unclaimed postal savings system accounts held by the United States Treasury Department. A single proceeding may be used to escheat as many accounts as may be available for escheat at 1 time.
12 Del. C. § 4520 — Delaware Code / Title 12 / Chapter 45 / Section 4520
§ Â
        4520. Termination of custodianship.
Status: in_force

The custodian shall transfer in an appropriate manner the custodial property to the minor or to the minor’s estate upon the earlier of:

(1) The minor’s attainment of 21 years of age with respect to custodial property transferred under § 4504 or § 4505 of this title;

(2) The minor’s attainment of 18 years of age with respect to custodial property transferred under § 4506 or § 4507 of this title; or

(3) The minor’s death.
12 Del. C. § 4709 — Delaware Code / Title 12 / Chapter 47 / Section 4709
§ Â
        4709. Relation to Electronic Signatures In Global and National Commerce Act.
Status: in_force

This chapter modifies, limits, and supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. § 7001 et seq., but does not modify, limit, or supersede Section 101 of that act, 15 U.S.C. § 7001(a), or authorize electronic delivery of any of the notices described in § 103 of that act, 15 U.S.C. § 7003(b).
12 Del. C. § 4501 — Delaware Code / Title 12 / Chapter 45 / Section 4501
§ Â
        4501. Definitions.
Status: in_force

In this chapter:

(1) “Adult” means an individual who has attained the age of 21 years.

(2) “Benefit plan” means an employer’s plan for the benefit of an employee or partner.

(3) “Broker” means a person lawfully engaged in the business of effecting transactions in securities or commodities for the person’s own account or for the account of others.

(4) “Court” means Court of Chancery.

(5) “Custodial property” means (i) any interest in property transferred to a custodian under this chapter and (ii) the income from and proceeds of that interest in property.

(6) “Custodian” means a person so designated under § 4509 of this title or a successor or substitute custodian designated under § 4518 of this title.

(7) “Financial institution” means a bank, trust company, savings institution or credit union, chartered and supervised under state or federal law.

(8) “Guardian” means a person appointed or qualified by a court to act as general, limited or temporary guardian or conservator of a minor’s property.

(9) “Legal representative” means an individual’s personal representative or conservator.

(10) “Member of the minor’s family” means the minor’s parent, stepparent, spouse, grandparent, brother, sister, uncle or aunt, whether of whole or half-blood or by adoption.

(11) “Minor” means an individual who has not attained the age of 21 years.

(12) “Person” means an individual, corporation, organization or other legal entity.

(13) “Personal representative” means an executor, administrator, successor personal representative or special administrator of a decedent’s estate or a person legally authorized to perform substantially the same functions.

(14) “State” includes any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico and any territory or possession subject to the legislative authority of the United States.

(15) “Transfer” means a transaction that creates custodial property under § 4509 of this title.

(16) “Transferor” means a person who makes a transfer under this chapter.

(17) “Trust company” means a financial institution, corporation or other legal entity authorized to exercise general trust powers.
12 Del. C. § 61-103 — Delaware Code / Title 12 / Chapter 61 / Subchapter I / Section 61-103
§ Â
        61-103. Fiduciary duties; general principles.
Status: in_force

(a) In allocating receipts and disbursements to or between principal and income, and with respect to any matter within the scope of subchapters II and III of this chapter, a fiduciary:

(1) Shall administer a trust or estate in accordance with the terms of the trust or the will, even if there is a different provision in this chapter;

(2) May administer a trust or estate by the exercise of a discretionary power of administration, which shall include a power to allocate between principal and income, given to the fiduciary by the terms of the trust or the will or by local law including, but not limited to, § 3325(23) of this title, even if the exercise of the power produces a result different from a result required or permitted by this chapter;

(3) Shall administer a trust or estate in accordance with this chapter if the terms of the trust or the will do not contain a different provision or do not give the fiduciary a discretionary power of administration; and

(4) Shall add a receipt or charge a disbursement to principal to the extent that the terms of the trust and this chapter do not provide a rule for allocating the receipt or disbursement to or between principal and income.

(b) In exercising the power to adjust under § 61-104(a) of this title or a discretionary power of administration regarding a matter within the scope of this chapter, whether granted by the terms of a trust, a will, or this chapter, a fiduciary shall administer a trust or estate impartially, based on what is fair and reasonable to all of the beneficiaries, except to the extent that the terms of the trust or the will clearly manifest an intention that the fiduciary shall or may favor 1 or more of the beneficiaries. A determination in accordance with this chapter is presumed to be fair and reasonable to all of the beneficiaries.
12 Del. C. § 802 — Delaware Code / Title 12 / Chapter 8 / Section 802
§ Â
        802. Registration in beneficiary form â sole or joint tenancy ownership.
Status: in_force

Only individuals whose registration of a security shows sole ownership by 1 individual or multiple ownership by 2 or more with right of survivorship, rather than as tenants in common, may obtain registration in beneficiary form. Multiple owners of a security registered in beneficiary form hold as joint tenants with right of survivorship, as tenants by the entireties or as owners of community property held in survivorship form and not as tenants in common.
12 Del. C. § 4507 — Delaware Code / Title 12 / Chapter 45 / Section 4507
§ Â
        4507. Transfer by obligor.
Status: in_force

(a) Subject to subsections (b) and (c) of this section, a person not subject to § 4505 or § 4506 of this title who holds property of or owes a liquidated debt to a minor not having a guardian may make an irrevocable transfer to a custodian for the benefit of the minor pursuant to § 4509 of this title.

(b) If a person having the right to do so under § 4503 of this title has nominated a custodian under that section to receive the custodial property, the transfer must be made to that person.

(c) If no custodian has been nominated under § 4503 of this title, or all persons so nominated as custodian die before the transfer or are unable, decline or are ineligible to serve, a transfer under this section may be made to an adult member of the minor’s family or to a trust company unless the property exceeds $50,000 in value or, if the property exceeds $50,000 in value, the custodian designated by the transferor is approved by the Court.

(d) A transfer under subsection (a) may be made:

(1) If the transferor considers the transfer to be in the best interest of the minor, which shall be presumed in the absence of contrary facts actually known to the transferor; and

(2) If the property exceeds $50,000 in value, the custodian designated by the transferor is approved by the Court.

If a transfer is made in conformity with the preceding provisions of this section and § 4509 of this title, the transferor shall have no liability to the minor therefor, including any obligation to see to the application of the proceeds of such transfer.
12 Del. C. § 5001 — Delaware Code / Title 12 / Chapter 50 / Section 5001
§ Â
        5001. Short title.
Status: in_force

This chapter may be cited as the “Fiduciary Access to Digital Assets and Digital Accounts Act.”
12 Del. C. § 3592 — Delaware Code / Title 12 / Chapter 35 / Subchapter VII / Section 3592
§ Â
        3592. Failure of trust to dispose of all assets.
Status: in_force

In the event that the terms of an inter vivos trust do not effectively dispose of a portion of or all of the principal and income of such inter vivos trust:

(1) If such failure occurs simultaneously with the death of the trustor, the trust principal not effectively disposed of shall be treated as though it were an additional part of the trustor’s estate, and shall be disposed of in accordance with the provisions of the trustor’s will, or if the trustor has no valid will, then the provisions of § 501 et seq. of this title shall govern the disposition of such principal; provided, however, that if any disposition to the trust would be treated as a qualified disposition, within the meaning of § 3570(7) of this title, if paragraph (2) of this section, rather than this paragraph (1), were applicable to the trust, then the principal of the trust shall be disposed of in accordance with paragraph (2) of this section.

(2) If such failure occurs at any time other than simultaneously with the death of the trustor, the trust income and principal not effectively disposed of shall be distributed as though the trustor had died on the date on which such failure occurred, a resident of the state of Delaware, owning the property so distributable, as though the provisions of § 501 et seq. of this title applied, but provided that if the provisions of § 502(2) or (3) of this title would apply for purposes of determining the share of a surviving spouse, the share of such surviving spouse shall be half of the personal property of the trust plus a life estate in the real estate of the trust.
12 Del. C. § 1174 — Delaware Code / Title 12 / Chapter 11 / Subchapter II / Section 1174
§ Â
        1174. Records obtained in examination or voluntary disclosure.
Status: in_force

All of the following apply to records obtained and records, including work papers, compiled by the State Escheator or the Secretary of State in the course of conducting an examination under § 1171 of this title or a voluntary disclosure under § 1173 of this title:

(1) The records are subject to the confidentiality and security provisions of § 1189 of this title and are not a “public record” under Chapter 100 of Title 29.

(2) The records may be used by the State Escheator in an action to collect property or otherwise enforce this chapter.

(3) The records may not be used in a joint examination conducted with another state, the United States, a foreign country or subordinate unit of a foreign country, or any other governmental entity unless the person subject to examination consents to such use in writing.

(4) The records may be disclosed to the person that administers the unclaimed property law of another state for that state’s use in circumstances equivalent to circumstances described in this chapter, if the other state is required to maintain the confidentiality and security of information obtained in a manner substantially equivalent to § 1189 of this title.

(5) The records must be produced by the State Escheator under an administrative or judicial subpoena or administrative or court order.

(6) The records must be produced by the State Escheator on request of the person that is the subject of the examination.
12 Del. C. § 2313 — Delaware Code / Title 12 / Chapter 23 / Subchapter II / Section 2313
§ Â
        2313. Anti-lapse; deceased devisee; class gifts.
Status: in_force

(a) (1) If a devisee or legatee who is a grandparent or lineal descendant of a grandparent of the testator is dead at the time of the execution of the will, fails to survive the testator or is treated as if the devisee or legatee predeceased the testator, the issue of the deceased devisee or legatee who survived the testator by 120 hours take in place of the deceased devisee or legatee, per stirpes.

(2) One who would have been a devisee or legatee under a class gift if that person had survived the testator is treated as a devisee or legatee for purposes of this section whether death occurred before or after the execution of the will.

(b) This section shall not apply in the case of wills wherein provisions have been made for distribution of property different from this section.
12 Del. C. § 3327 — Delaware Code / Title 12 / Chapter 33 / Section 3327
§ Â
        3327. Removal of an officeholder.
Status: in_force

If a governing instrument expressly permits an officeholder (as defined in § 3326 of this title) to be removed, the officeholder may be removed in accordance with the terms of the governing instrument. In addition, the Court of Chancery may remove an officeholder on the Court’s own initiative or on petition of a trustor, another officeholder, or beneficiary if:

(1) The officeholder has committed a breach of trust; or

(2) The continued service of the officeholder substantially impairs the administration of the trust; or

(3) The court, having due regard for the expressed intention of the trustor and the best interests of the beneficiaries, determines that notwithstanding the absence of a breach of trust, there exists:

a. A substantial change in circumstances;

b. Unfitness, unwillingness or inability of the officeholder to administer the trust or perform its duties properly; or

c. Hostility between the officeholder and beneficiaries or other officeholders that threatens the efficient administration of the trust.
12 Del. C. § 3337 — Delaware Code / Title 12 / Chapter 33 / Section 3337
§ Â
        3337. Claims against revocable trusts [For application of this section, see 79 Del. Laws, c. 172, Ââ6].
Status: in_force

Following the death of the trustor of a trust that was revocable immediately prior to the trustor’s death, all claims against the trust that, but for any applicable period of limitations, could have been brought against the trustor’s estate, whether due or to become due, absolute or contingent, liquidated or unliquidated, founded on contract, tort or other legal basis, if not barred earlier by other statute of limitations, are barred against the trust when and to the same extent barred against the trustor’s estate by any applicable statute of limitations or statute of repose on claims against the estate including any such statute of limitations or repose enacted by jurisdictions other than this State.
12 Del. C. § 3953 — Delaware Code / Title 12 / Chapter 39 / Subchapter IV / Section 3953
§ Â
        3953. Sale on credit; security for purchase price.
Status: in_force

In any order granted by the Court of Chancery for the sale of real estate owned by a person with a disability, the Court may direct such sale to be made upon credit, either as to the whole or part of the purchase money, the payment of the purchase money to be at such time or times and to be secured in such manner as the Court by the order of sale or otherwise prescribes. The Court may order and direct all such acts and proceedings touching the premises as it deems necessary to better effectuate the object of this section.
12 Del. C. § 61-408 — Delaware Code / Title 12 / Chapter 61 / Subchapter IV / Section 61-408
§ Â
        61-408. Insubstantial allocations not required.
Status: in_force

If a trustee determines that an allocation between principal and income required by § 61-409, § 61-410, § 61-411, § 61-412 or § 61-415 of this title is insubstantial, the trustee may allocate the entire amount to principal unless 1 of the circumstances described in § 61-104(c) of this title applies to the allocation. This power may be exercised by a cotrustee in the circumstances described in § 61-104(d) of this title and may be released for the reasons and in the manner described in § 61-104(e) of this title. An allocation is presumed to be insubstantial if:

(1) The amount of the allocation would increase or decrease net income in an accounting period, as determined before the allocation, by less than 10 percent; or

(2) The value of the asset producing the receipt for which the allocation would be made is less than 10 percent of the total value of the trust’s assets at the beginning of the accounting period.
12 Del. C. § 4905 — Delaware Code / Title 12 / Chapter 49 / Section 4905
§ Â
        4905. Exercise of power after revocation.
Status: in_force

As to acts undertaken in good faith reliance thereon, an affidavit executed by the agent under a power of attorney, durable or otherwise, stating that the agent did not have at the time of exercise of the power actual knowledge of the termination of the power by revocation or of the principal’s death, disability or incapacity is conclusive proof of the nonrevocation or nontermination of the power at that time. If the exercise of the power of attorney requires execution and delivery of any instrument that is recordable, the affidavit when authenticated for record is likewise recordable. This section does not affect any provision in a power of attorney for its termination by expiration of time, the occurrence of an event other than an expressed revocation or a change in the principal’s capacity.
12 Del. C. § 1510 — Delaware Code / Title 12 / Chapter 15 / Subchapter I / Section 1510
§ Â
        1510. Personal representatives of deceased guardians.
Status: in_force

Upon appointment, every executor or administrator of the estate of a guardian who dies in office shall notify the Court of Chancery of the guardian’s death, and thereafter perform the duties of the guardian as specified in § 3941 of this title.
12 Del. C. § 49A-120 — Delaware Code / Title 12 / Chapter 49A / Subchapter I / Section 49A-120
§ Â
        49A-120. Liability for refusal to accept acknowledged personal power of attorney.
Status: in_force

(a) Except as otherwise provided in subsection (b) of this section:

(1) A person shall accept an acknowledged personal power of attorney that is originally written in English or is translated into English, under oath of the translator;

(2) A person may not require an additional or different form of personal power of attorney for authority granted in the personal power of attorney presented; and

(3) A person may not refuse to accept an acknowledged personal power of attorney solely upon the basis that the form of such acknowledged personal power of attorney varies from the form set forth in § 49A-301 of this title.

(b) A person is not required to accept an acknowledged personal power of attorney if:

(1) The person is not otherwise required to engage in a transaction with the principal in the same circumstances;

(2) Engaging in a transaction with the agent or the principal in the same circumstances would be inconsistent with state or federal law;

(3) The person has actual knowledge of the termination of the agent’s authority or of the personal power of attorney before exercise of the power;

(4) The person has actual knowledge that the personal power of attorney has been terminated or revoked, or is void or invalid, or that the agent does not have the authority to perform the act requested; or

(5) The person promptly makes, has made, or has actual knowledge that another person has made, a report to the appropriate law-enforcement or social service agency stating a good faith belief that the principal may be subject to physical or financial abuse, neglect, exploitation, or abandonment by the agent or a person acting for or with the agent.

(c) A person that refuses in violation of this section to accept an acknowledged personal power of attorney is subject to:

(1) A court order compelling acceptance of the personal power of attorney; and

(2) Liability for damages, including reasonable attorneys’ fees and costs, incurred in any action or proceeding that confirms the validity of the personal power of attorney or authority of the agent to act, or compels acceptance of the personal power of attorney.
12 Del. C. § 2708 — Delaware Code / Title 12 / Chapter 27 / Section 2708
§ Â
        2708. Return of sale; deed.
Status: in_force

(a) An executor or administrator shall return the proceedings to any adjourned or regular term of the Court of Chancery after the making or renewing of an order of sale; and if the return is approved, the executor or administrator shall make a deed to the purchaser for the premises sold.

(b) If an order is made to several executors or administrators, upon the death of any, it shall survive.

(c) A successor administrator may return a sale made by a former executor or administrator and make a deed to the purchaser, if the Court of Chancery approves the sale and orders the successor to make a deed. The successor may, under order of the Court, make a deed pursuant to a sale returned by such former executor or administrator and duly approved.

(d) A deed may also be made, by order of the Court of Chancery, to the heirs or to the assigns of a deceased purchaser.

(e) The Court of Chancery shall not order a deed to be made in any case, unless the purchase money is first paid.
12 Del. C. § 2319 — Delaware Code / Title 12 / Chapter 23 / Subchapter II / Section 2319
§ Â
        2319. Transfer of investments or other property to guardian or trustee in payment of specific legacy or distributive share; receipt.
Status: in_force

Whenever an executor or administrator makes an assignment of any investment or transfers or delivers any personal property of any testator or intestate to a guardian or trustee as payment in whole or in part of a specific legacy or of a distributive share, such guardian or trustee shall give to the executor or administrator, for the purpose of accounting by the executor or administrator in the settlement of the estate only, a receipt therefor at the valuation fixed in the appraisement of the estate of such testator or intestate. The receipt, when filed with the Court of Chancery, shall be a sufficient discharge of such executor or administrator and of the executor’s or administrator’s sureties for any property so transferred or delivered, and such guardian or trustee may take over such property and may, without liability for any loss or depreciation therein, continue to hold the same, until in the exercise of due care it shall become no longer wise so to do. Nothing herein contained shall permit or require a guardian or trustee to take over in settlement of a distributive share of an estate property at a value less than the distributive portion of the estate to which such guardian or trustee would otherwise be entitled. In case a guardian or trustee is acting under authority of an instrument or a court order, the terms and provisions of such instrument or court order shall be controlling as to the powers and duties of such guardian or trustee.
12 Del. C. § 49A-205 — Delaware Code / Title 12 / Chapter 49A / Subchapter II / Section 49A-205
§ Â
        49A-205. Tangible personal property.
Status: in_force

Unless the personal power of attorney otherwise provides, language in a personal power of attorney granting general authority with respect to tangible personal property authorizes the agent to:

(1) Demand, buy, receive, accept as a gift or as security for an extension of credit, or otherwise acquire or reject ownership or possession of tangible personal property or an interest in tangible personal property;

(2) Sell; exchange; convey with or without covenants, representations, or warranties; quitclaim; release; surrender; create a security interest in; grant options concerning; lease; sublease; or, otherwise dispose of tangible personal property or an interest in tangible personal property;

(3) Grant a security interest in tangible personal property or an interest in tangible personal property as security to borrow money or pay, renew, or extend the time of payment of a debt of the principal or a debt guaranteed by the principal;

(4) Release, assign, satisfy, or enforce by litigation or otherwise, a security interest, lien, or other claim on behalf of the principal, with respect to tangible personal property or an interest in tangible personal property;

(5) Manage or conserve tangible personal property or an interest in tangible personal property on behalf of the principal, including:

a. Insuring against liability or casualty or other loss;

b. Obtaining or regaining possession of or protecting the property or interest, by litigation or otherwise;

c. Paying, assessing, compromising, or contesting taxes or assessments or applying for and receiving refunds in connection with taxes or assessments;

d. Moving the property from place to place;

e. Storing the property for hire or on a gratuitous bailment; and

f. Using and making repairs, alterations, or improvements to the property; and

(6) Change the form of title of an interest in tangible personal property.
12 Del. C. § 2715 — Delaware Code / Title 12 / Chapter 27 / Section 2715
§ Â
        2715. Refund of purchase money when sale not returned or not approved.
Status: in_force

If the purchase money arising from any sale under this chapter shall be paid to the executor or administrator before the sale is approved, the executor or administrator shall refund the same without delay if such sale is not returned or shall not be approved. If the executor or administrator does not refund the money, it shall be a breach of the condition of the bond prescribed in § 2713 of this title, although the executor or administrator shall have died before the time for returning such sale, for such death shall not excuse the executor or administrator from the strict performance of the executor’s or administrator’s duty.
12 Del. C. § 61-401 — Delaware Code / Title 12 / Chapter 61 / Subchapter IV / Section 61-401
§ Â
        61-401. Character of receipts.
Status: in_force

(a) In this section, “entity” means a corporation, partnership, limited liability company, regulated investment company, real estate investment trust, common trust fund, statutory trust or any other organization in which a trustee has an interest other than a trust or estate to which § 61-402 of this title applies, a business or activity to which § 61-403 of this title applies, or an asset-backed security to which § 61-415 of this title applies.

(b) Except as otherwise provided in this section, a trustee shall allocate to income money received from an entity.

(c) Subject to subsection (f) of this section, a trustee shall allocate the following receipts from an entity to principal:

(1) Property other than money; provided that if a trustee receives an option to receive a distribution in the form of money or in the form of property and elects to receive the distribution in the form of property, such distribution shall be deemed to be a distribution of money;

(2) Money received in 1 distribution or a series of related distributions in exchange for part or all of a trust’s interest in the entity;

(3) Money received in total or partial liquidation of the entity; and

(4) Money received from an entity that is a regulated investment company or a real estate investment trust if the money distributed is a capital gain dividend for federal income tax purposes.

(d) Money is received in partial liquidation:

(1) Subject to subsection (f) of this section, to the extent that the entity, at or near the time of a distribution, indicates that it is a distribution in partial liquidation; or

(2) If the total amount of money and property received in a distribution or series of related distributions is greater than 20 percent of the entity’s gross assets, as shown by the entity’s year-end financial statements immediately preceding the initial receipt.

(e) Money is not received in partial liquidation, nor may it be taken into account under paragraph (d)(2) of this section, to the extent that it does not exceed the amount of income tax that a trustee or beneficiary must pay on taxable income of the entity that distributes the money.

(f) A trustee may rely upon a statement made by an entity about the source or character of a distribution if the statement is made by the entity’s board of directors or other person or group of persons authorized to exercise powers to pay money or transfer property comparable to those of a corporation’s board of directors or by a person authorized by such board of directors or comparable person or group of persons to make such a statement.
12 Del. C. § 1149 — Delaware Code / Title 12 / Chapter 11 / Subchapter II / Section 1149
§ Â
        1149. Contents of notice by holder.
Status: in_force

(a) The notice under § 1148 of this title must contain a heading that reads as follows:

“Notice. The State of Delaware requires us to notify you that your property will be transferred to the custody of the State Escheator if you do not contact us before [insert date that is 30 days after the date of this notice.]”

(b) The notice under § 1148 of this title must do all of the following:

(1) State that the property will be turned over to the State Escheator.

(2) State that after the property is turned over to the State Escheator an owner that seeks return of the property may file a claim.

(3) Identify the nature and, except for property that does not have a fixed value, the value of the property that is the subject of the notice.

(4) State that property that is not legal tender of the United States may be sold by the State Escheator.

(5) Provide instructions that the owner must follow to prevent the holder from reporting and paying or delivering the property to the State Escheator.
12 Del. C. § 3550 — Delaware Code / Title 12 / Chapter 35 / Subchapter III / Section 3550
§ Â
        3550. Electronic execution of documents.
Status: in_force

(a) If otherwise validly executed, the following documents may be executed in accordance with the Uniform Electronic Transaction Act, Chapter 12A of Title 6:

(1) A governing instrument or other document—other than a will or codicil—described in §§ 3325(29), 3338, 3342, 3343, 3528, or 3545 of this title.

(2) The resignation, removal, appointment, or acceptance of appointment of any trustee, any adviser or protector as described in § 3313(a) of this title, or of any designated representative described in § 3339 of this title.

(3) A consent, release, ratification, or indemnification described in § 3588 of this title.

(4) Any other document addressed by Chapters 33 and 35 of this title to the extent it is not excluded from the scope of Chapter 12A of Title 6 under § 12A-103(a) of Title 6.

(b) Notwithstanding any provision of Chapter 12A of Title 6 to the contrary, the documents under subsection (a) of this section are deemed to be a “transaction” within the meaning of § 12A-102 of Title 6 and are within the scope of § 12A-103 of Title 6.
12 Del. C. § 1570 — Delaware Code / Title 12 / Chapter 15 / Subchapter V / Section 1570
§ Â
        1570. Jurisdiction by act of decedent.
Status: in_force

In addition to jurisdiction conferred by § 1569 of this title, a foreign personal representative is subject to the jurisdiction of the courts of this State to the same extent that the decedent was subject to jurisdiction immediately prior to death.
12 Del. C. § 3309 — Delaware Code / Title 12 / Chapter 33 / Section 3309
§ Â
        3309. Identification of securities.
Status: in_force

(a) Except as otherwise provided by the terms of the governing instrument, all securities in a fiduciary estate, whether held by the fiduciary or an agent for the fiduciary, shall be held in such manner that the fiduciary’s name and the fiduciary capacity in which the securities are held are fully disclosed, except as provided hereafter in this section or in § 3311 of this title.

(b) A bank or trust company acting as fiduciary or as agent for a fiduciary or nonfiduciary may hold securities in the name of its nominee without disclosing the capacity in which they are held, provided the records maintained with respect to those securities disclose the capacity in which they are held and provided there is no written objection from either a cofiduciary or the person for whom it is acting as agent.
12 Del. C. § 1542 — Delaware Code / Title 12 / Chapter 15 / Subchapter III / Section 1542
§ Â
        1542. Removal of executor or administrator upon subsequent probate of will.
Status: in_force

If, after the grant of letters testamentary or the grant of letters of administration, a will of the deceased is admitted to probate and letters testamentary or of administration with the will annexed are thereupon granted, the prior executor or administrator shall by such grant be removed from office. All the previous lawful acts of the removed executor or administrator shall be valid as provided in § 1545 of this title.
12 Del. C. § 4505 — Delaware Code / Title 12 / Chapter 45 / Section 4505
§ Â
        4505. Transfer authorized by will or trust.
Status: in_force

(a) A personal representative or trustee may make an irrevocable transfer pursuant to § 4509 of this title to a custodian for the benefit of a minor as authorized in the governing will or trust.

(b) If the testator or settlor has nominated a custodian under § 4503 of this title to receive the custodial property, the transfer must be made to that person.

(c) If the testator or settlor has not nominated a custodian under § 4503 of this title, or all persons so nominated as custodian die before the transfer or are unable, decline or are ineligible to serve, the personal representative or the trustee, as the case may be, shall designate the custodian from among those eligible to serve as custodian for property of that kind under § 4509(a) of this title.
12 Del. C. § 3101 — Delaware Code / Title 12 / Chapter 31 / Subchapter I / Section 3101
§ Â
        3101. Action at law.
Status: in_force

(a) An action at law may be maintained against an executor or administrator for a legacy or distributive share that is due. Assets in the executor’s or administrator’s hands to pay a legacy shall create a legal liability and raise a consequent promise to pay it. If there are not sufficient assets to pay the whole legacy, a part may be recovered. If the delivery of a specific legacy has been refused, the value of it may be recovered by an action at law. There shall be a legal liability to pay a distributive share and a consequent implied promise.

(b) An action at law shall not lie for a legacy which is either directly or by implication the subject of a trust.
12 Del. C. § 3816 — Delaware Code / Title 12 / Chapter 38 / Subchapter I / Section 3816
§ Â
        3816. Derivative actions.
Status: in_force

(a) A beneficial owner may bring an action in the Court of Chancery in the right of a statutory trust to recover a judgment in its favor if persons with authority to do so have refused to bring the action or if an effort to cause those persons to bring the action is not likely to succeed.

(b) In a derivative action, the plaintiff must be a beneficial owner at the time of bringing the action and:

(1) At the time of the transaction of which the plaintiff complains; or

(2) Plaintiff’s status as a beneficial owner had devolved upon plaintiff by operation of law or pursuant to the terms of the governing instrument of the statutory trust from a person who was a beneficial owner at the time of the transaction.

(c) In a derivative action, the complaint shall set forth with particularity the effort, if any, of the plaintiff to secure initiation of the action by the persons with authority to do so, or the reasons for not making the effort.

(d) If a derivative action is successful, in whole or in part, or if anything is received by a statutory trust as a result of a judgment, compromise or settlement of any such action, the Court may award the plaintiff reasonable expenses, including reasonable attorneys’ fees. If anything is so received by the plaintiff, the Court shall make such award of plaintiff’s expenses payable out of those proceeds and direct plaintiff to remit to the statutory trust the remainder thereof, and if those proceeds are insufficient to reimburse plaintiff’s reasonable expenses, the Court may direct that any such award of plaintiff’s expenses or a portion thereof be paid by the statutory trust.

(e) A beneficial owner’s right to bring a derivative action may be subject to such additional standards and restrictions, if any, as are set forth in the governing instrument of the statutory trust, including, without limitation, the requirement that beneficial owners owning a specified beneficial interest in the statutory trust join in the bringing of the derivative action.
12 Del. C. § 2907 — Delaware Code / Title 12 / Chapter 29 / Section 2907
§ Â
        2907. Apportionment and recapture of special elective benefits [Effective Jan. 1, 2017, but see Ââ2914 of this title for future applicability].
Status: in_force

(a) In this section:

(1) “Special elective benefit” means a reduction in an estate tax obtained by an election for:

a. A reduced valuation of specified property that is included in the gross estate;

b. A deduction from the gross estate, other than a marital or charitable deduction, allowed for specified property; or

c. An exclusion from the gross estate of specified property.

(2) “Specified property” means property for which an election has been made for a special elective benefit.

(b) If an election is made for 1 or more special elective benefits, an initial apportionment of a hypothetical estate tax must be computed as if no election for any of those benefits had been made. The aggregate reduction in estate tax resulting from all elections made must be allocated among holders of interests in the specified property in the proportion that the amount of deduction, reduced valuation, or exclusion attributable to each holder’s interest bears to the aggregate amount of deductions, reduced valuations, and exclusions obtained by the decedent’s estate from the elections. If the estate tax initially apportioned to the holder of an interest in specified property is reduced to zero, any excess amount of reduction reduces ratably the estate tax apportioned to other persons that receive interests in the apportionable estate.

(c) An additional estate tax imposed to recapture all or part of a special elective benefit must be charged to the persons that are liable for the additional tax under the law providing for the recapture.
12 Del. C. § 3340 — Delaware Code / Title 12 / Chapter 33 / Section 3340
§ Â
        3340. Place of administration [For application of this section, see 80 Del. Laws, c. 153, Ââ5].
Status: in_force

For purposes of this title, and without limiting other ways in which a trust may be considered to be administered in this State, a trust is administered in this State if:

(1) The sole trustee is an individual residing in this State or a corporation or other entity having an office for the conduct of trust business in this State;

(2) The trust has more than 1 trustee only 1 of which is a corporation or other entity and that corporation or other entity has an office for the conduct of trust business in this State; or

(3) The trust has more than 1 trustee all of whom are individuals and 1/2 or more of whom reside in this State.
12 Del. C. § 2317 — Delaware Code / Title 12 / Chapter 23 / Subchapter II / Section 2317
§ Â
        2317. Abatement.
Status: in_force

(a) Except as provided in subsection (b) of this section and except as provided in connection with the elective share of the surviving spouse who elects to take an elective share, shares of distributees abate, with personal property to be abated prior to real property within each class, in the following order:

(1) Property not disposed of by the will;

(2) Residuary bequests and devises;

(3) General bequests and devises;

(4) Specific bequests and devises.

For purposes of abatement, a general bequest or devise charged on any specific property or fund is a specific bequest or devise to the extent of the value of the property on which it is charged, and upon the failure or insufficiency of the property on which it is charged, a general bequest or devise to the extent of the failure or insufficiency. Abatement within each classification is in proportion to the amounts of property each of the beneficiaries would have received if full distribution of the property had been made in accordance with the terms of the will.

(b) If the will expresses an order of abatement, or if the testamentary plan or the express or implied purpose of the devise would be defeated by the order of abatement stated in subsection (a) of this section, the shares of the distributees abate as may be found necessary to give effect to the intention of the testator.

(c) If the subject of a preferred bequest or devise is sold or used incident to administration, abatement shall be achieved by appropriate adjustments in, or contribution from, other interests in the remaining assets.
12 Del. C. § 3981 — Delaware Code / Title 12 / Chapter 39 / Subchapter VI / Section 3981
§ Â
        3981. Office established; appointment [For application of this section, see 85 Del. Laws, c. 137, Â 12].
Status: in_force

(a) There is established an Office of the Public Guardian, with a Public Guardian who shall serve as follows:

(1) The guardian of last resort for the citizens of Delaware who have been determined to lack capacity to make decisions regarding their persons, their property, or both.

(2) The representative payee of last resort for Social Security benefits.

(3) The VA fiduciary of last resort for U.S. Department of Veterans Affairs benefits.

(b) The Public Guardian shall advocate and provide services under subsection (a) of this section, work with advocacy groups and state agencies to promote systemic reform and recommend changes in the law, procedure and policy necessary to enhance the provision of services for substituted and supported decision-making, and act as an informational resource for the public. The Public Guardian shall serve as Executive Director of the Delaware Guardianship Commission and promote the purposes of the Commission, and shall represent the Office of the Public Guardian in matters in which the appointment of the Public Guardian is sought.

(c) To bring about these goals, the Public Guardian must be an attorney duly licensed to practice law in Delaware, selected by the Governor, and shall serve for a term of 6 years from the date of swearing in.
12 Del. C. § 214 — Delaware Code / Title 12 / Chapter 2 / Subchapter I / Section 214
§ Â
        214. Devolution of property; administration of decedentsâ estates.
Status: in_force

Solely for the purposes of determining the rights of any person to property of a decedent, it shall be presumed that tangible personal property acquired

(1) By a decedent through gift or inheritance, or

(2) Solely with the funds of the decedent, or

(3) Acquired by the decedent before marriage to the surviving spouse, is the sole property of the decedent notwithstanding that such property consists of household goods or that any such property was subject to joint possession and use by a decedent and the surviving spouse.
12 Del. C. § 61-102 — Delaware Code / Title 12 / Chapter 61 / Subchapter I / Section 61-102
§ Â
        61-102. Definitions.
Status: in_force

In this chapter:

(1) “Accounting period” means a calendar year unless another 12-month period is selected by a fiduciary. The term includes a portion of a calendar year or other 12-month period that begins when an income interest begins or ends when an income interest ends.

(2) “Beneficiary” includes, in the case of a decedent’s estate, an heir, a next of kin, a legatee and devisee and, in the case of a trust, an income beneficiary and a remainder beneficiary.

(3) “Fiduciary” means a personal representative or a trustee. The term includes an executor, administrator, successor personal representative, special administrator, and a person performing substantially the same function.

(4) “Income” means money or property that a fiduciary receives as current return from a principal asset. The term includes a portion of receipts from a sale, exchange, or liquidation of a principal asset, to the extent provided in subchapter IV of this chapter.

(5) “Income beneficiary” means a person to whom net income of a trust is or may be payable.

(6) “Income interest” means the right of an income beneficiary to receive all or part of net income, whether the terms of the trust require it to be distributed or authorize it to be distributed in the trustee’s discretion.

(7) “Mandatory income interest” means the right of an income beneficiary to receive net income that the terms of the trust require the fiduciary to distribute.

(8) “Net income” means the total receipts allocated to income during an accounting period minus the disbursements made from income during the period, plus or minus transfers under this chapter to or from income during the period.

(9) “Person” means an individual, corporation, statutory trust, estate, trust, partnership, limited liability company, association, joint venture, government; governmental subdivision, agency, or instrumentality; public corporation, or any other legal or commercial entity.

(10) “Principal” means property held in trust for distribution to a remainder beneficiary when the trust terminates.

(11) “Remainder beneficiary” means a person entitled to receive principal when an income interest ends.

(12) “Terms of a trust” means the manifestation of the intent of a settlor with respect to the trust, expressed in a manner that admits of its proof in a judicial proceeding, whether by written or spoken words or by conduct. The term “settlor” may include a decedent.

(13) “Trustee” includes an original, additional, or successor trustee, whether or not appointed or confirmed by a court, and an adviser described in § 3313 of this title.
12 Del. C. § 206 — Delaware Code / Title 12 / Chapter 2 / Subchapter I / Section 206
§ Â
        206. After-acquired real estate.
Status: in_force

Any estate, right or interest in lands, acquired by a testator after the making of a will, shall pass thereby in manner as if possessed at the making of the will, unless a contrary intention appears by the will.
12 Del. C. § 2106 — Delaware Code / Title 12 / Chapter 21 / Section 2106
§ Â
        2106. Petition to Court of Chancery to determine order of preference.
Status: in_force

Whenever an executor or administrator is unable to determine between 2 or more creditors the order of preference to be given to their respective demands, the executor or administrator may, upon petition to the Court of Chancery, have the parties in interest summoned to appear in the Court, and upon hearing duly had the Court shall determine the order of preference to be given to the respective demands of the creditors who may have been made parties to the proceeding. Upon compliance with such determination the petitioner and the petitioner’s sureties shall be discharged from all further liability in respect to the preference made by the Court.
12 Del. C. § 61-504 — Delaware Code / Title 12 / Chapter 61 / Subchapter V / Section 61-504
§ Â
        61-504. Transfers from income to reimburse principal.
Status: in_force

(a) If a trustee makes or expects to make a principal disbursement described in this section, the trustee may transfer an appropriate amount from income to principal in 1 or more accounting periods to reimburse principal or to provide a reserve for future principal disbursements.

(b) Principal disbursements to which subsection (a) of this section applies include the following, but only to the extent that the trustee has not been and does not expect to be reimbursed by a third party:

(1) An amount chargeable to income but paid from principal because it is unusually large, including extraordinary repairs;

(2) A capital improvement to a principal asset, whether in the form of changes to an existing asset or the construction of a new asset, including special assessments;

(3) Disbursements made to prepare property for rental, including tenant allowances, leasehold improvements, and broker’s commissions;

(4) Periodic payments on an obligation secured by a principal asset to the extent that the amount transferred from income to principal for depreciation is less than the periodic payments; and

(5) Disbursements described in § 61-502(a)(7) of this title.

(c) If the asset whose ownership gives rise to the disbursements becomes subject to a successive income interest after an income interest ends, a trustee may continue to transfer amounts from income to principal as provided in subsection (a) of this section.
12 Del. C. § 39A-104 — Delaware Code / Title 12 / Chapter 39A / Section 39A-104
§ Â
        39A-104. Cooperation between courts.
Status: in_force

(a) In a guardianship or protective proceeding in this State, the Court may request the appropriate court of another state to do any of the following:

(1) Hold an evidentiary hearing;

(2) Order a person in that state to produce evidence or give testimony pursuant to procedures of that state;

(3) Order that an evaluation or assessment be made of the respondent;

(4) Order any appropriate investigation of a person involved in a proceeding;

(5) Forward to the Court a certified copy of the transcript or other record of a hearing under paragraph (a)(1) of this section or any other proceeding, any evidence otherwise produced under paragraph (a)(2) of this section, and any evaluation or assessment prepared in compliance with an order under paragraph (a)(3) or (a)(4) of this section;

(6) Issue any order necessary to assure the appearance in the proceeding of a person whose presence is necessary for the Court to make a determination, including the respondent or the person who is incapacitated or a protected person;

(7) Issue an order authorizing the release of medical, financial, criminal, or other relevant information in that state, including protected health information as defined in 45 C.F.R. § 164.504.

(b) If a court of another state in which a guardianship or protective proceeding is pending requests assistance of the kind provided in subsection (a) of this section, the Court has jurisdiction for the limited purpose of granting the request or making reasonable efforts to comply with the request.
12 Del. C. § 3537 — Delaware Code / Title 12 / Chapter 35 / Subchapter III / Section 3537
§ Â
        3537. Conveyance of realty by infant trustee.
Status: in_force

Any person under the age of 18 years, having real estate in trust for others, may, by direction of the Court of Chancery given upon hearing all parties concerned on the petition of those for whom such infant is trustee or of the guardian of such infant, convey and assure such real estate, in such manner as the Court directs, to any other person. Such conveyance shall be as good and effectual in law as if the infant was of full age. Such infant may be compelled to execute such order, in like manner as trustees of full age are compellable to convey or assure trust estates.
12 Del. C. § 3125 — Delaware Code / Title 12 / Chapter 31 / Subchapter II / Section 3125
§ Â
        3125. Suit for specific performance of decedentâs contract for sale of real estate; proof and recording of contract; effect of deed.
Status: in_force

(a) Before suit shall be brought against an executor or administrator upon a written contract of the decedent under seal or under hand and attested by 1 or more witnesses for the conveyance of any real estate within the State, the person with whom such contract was made or who is entitled to the benefit thereof, either as heir, devisee, assignee or otherwise, shall cause the contract to be proved in the Court of Chancery in the county where the premises are situated and recorded in the recorder’s office therein and shall thereupon apply to the executor or administrator for the fulfillment of the contract. Thereupon, the executor or administrator, if the consideration of the premises has been paid or upon payment thereof, may exhibit to such Court a petition stating the facts and praying authority to convey the premises in execution of the contract. The Court may inquire into the case and order specific performance of the contract, according to equity and good conscience. A deed made pursuant to such order shall be as effectual as if executed by the decedent in the decedent’s lifetime.

(b) If the premises lie partly in 2 counties, the proof may be taken and the order made in either, but the contract must be recorded in each.

(c) If it is evident that the executor or administrator cannot fulfill the contract specifically or if it is a case in which a specific execution ought not to be accepted, proceedings under this section shall not be necessary.

(d) If a suit is brought against the true intent of this section, the Court may dismiss the action.
12 Del. C. § 61-413 — Delaware Code / Title 12 / Chapter 61 / Subchapter IV / Section 61-413
§ Â
        61-413. Property not productive of income.
Status: in_force

Upon request of the income beneficiary, if the trustee determines that the assets of a trust consist substantially of property that does not provide the income beneficiary with a reasonable income from or use of the trust assets, and that the amounts that the trustee transfers from principal to income under § 61-104 of this title and distributes to the income beneficiary from principal pursuant to the terms of the trust are insufficient to provide the income beneficiary with the beneficial enjoyment of the income interest, the trustee shall make such property productive of income, convert such property within a reasonable time, or exercise the power conferred by § 61-104(a) of this title, as such action or combination of actions are deemed appropriate in the trustee’s discretion.
12 Del. C. § 253 — Delaware Code / Title 12 / Chapter 2 / Subchapter II / Section 253
§ Â
        253. International will â requirements.
Status: in_force

(a) The will must be made in writing. It need not be written by the testator himself or herself. It may be written in any language, by hand or by any other means.

(b) The testator shall declare in the presence of 2 credible witnesses and of a person authorized to act in connection with international wills that the document is the testator’s will and that the testator knows the contents thereof. The testator need not inform the witnesses or the authorized person of the contents of the will.

(c) In the presence of the witnesses and of the authorized person, the testator shall sign the will or, if the testator has previously signed it, shall acknowledge the signature.

(d) If the testator is unable to sign, the absence of the testator’s signature does not affect the validity of the international will if the testator indicates the reason for the inability to sign and the authorized person makes note thereof on the will. In that case, it is permissible for any other person present, including the authorized person or 1 of the witnesses, at the direction of the testator, to sign the testator’s name for the testator if the authorized person makes note of this on the will, but it is not required that any person sign the testator’s name.

(e) The witnesses and the authorized person shall there and then attest the will by signing in the presence of the testator.
12 Del. C. § 258 — Delaware Code / Title 12 / Chapter 2 / Subchapter II / Section 258
§ Â
        258. Source and construction.
Status: in_force

Sections 251 through 257 of this title derive from Annex to Convention of October 26, 1973, Providing a Uniform Law on the Form of an International Will. In interpreting and applying this subchapter, regard shall be had to its international origin and to the need for uniformity in its interpretation.
12 Del. C. § 902 — Delaware Code / Title 12 / Chapter 9 / Section 902
§ Â
        902. Elective estate defined.
Status: in_force

(a) The elective estate means the amount of the decedent’s gross estate for federal estate tax purposes, regardless of whether or not a federal estate tax return is filed for the decedent, modified as follows:

(1) Less those deductions allowable under §§ 2053 and 2054 of the Internal Revenue Code of 1986, as amended [26 U.S.C. §§ 2053 and 2054], or the comparable provisions of any later law (“the Code”); and

(2) The extent of the inclusion in the decedent’s gross estate for federal estate tax purposes of certain joint interests of the decedent and the surviving spouse under § 2040(b) of the Code [26 U.S.C. § 2040(b)] shall be modified as follows: the decedent’s gross estate for federal estate tax purposes shall include one half of any interest in property created at any time, including interests created before January 1, 1977, held by the decedent and the surviving spouse as:

a. Tenants by the entirety, or

b. Joint tenants with right of survivorship, but only if the decedent and the surviving spouse are the only joint tenants.

(b) For purposes of this chapter, if the federal estate tax is not applicable, because of its permanent or temporary repeal, to the estates of persons dying on the date of the decedent’s death, any reference in this chapter to “the Code” as defined in paragraph (a)(1) of this section, “federal estate tax purposes,” and to other terms dependent upon the federal estate tax provisions of the Code shall be deemed to refer to the provisions of the Code in effect on the last date on which the federal estate tax was applicable to the estates of persons dying before the date of the decedent’s death.

(c) In every case where an elective share petition has been filed, the personal representative of the estate shall prepare a Form 706 (United States Estate Tax Return) for the estate, regardless of whether such form is required to be filed. If such form is not required to be filed because of the permanent or temporary repeal of the federal estate tax, the personal representative shall use in such preparation the Form 706, or its equivalent form, last authorized by the Internal Revenue Service before the repeal became effective. A copy of the form must be provided to the surviving spouse by the latest of the following dates:

(1) The due date for the Form 706, as extended;

(2) If a Form 706 or an equivalent form is not required to be filed, whether or not because of the permanent or temporary repeal of the federal estate tax, 15 months from the date of the decedent’s death; or

(3) Three months after the elective share petition has been timely filed.
12 Del. C. § 303 — Delaware Code / Title 12 / Chapter 3 / Subchapter I / Section 303
§ Â
        303. Appraisal and assignment of intestate real estate; appointment and duties of freeholders.
Status: in_force

(a) The Court of Chancery, upon the petition of any after-born child (which petition in the case of infancy shall be preferred by a guardian) setting forth the facts of the case and specifying any real or personal estate of which the deceased parent died intestate, may, by an order, appoint 5 judicious and impartial freeholders, taken from the county of the parent’s last residence or from any county where intestate real estate of the parent may be situated or from different counties, who shall go to all the lands, tenements and hereditaments, both testate and intestate, of which the deceased parent died seised and with the assistance of a skillful and impartial surveyor, by them to be nominated, if deemed necessary, shall appraise the same at the true value thereof in money and also shall ascertain and estimate the amount and value of the decedent’s clear personal estate, whether bequeathed or intestate.

(b) If the intestate real estate of the deceased parent be sufficient for that purpose (subject to the rights of the surviving spouse, if there is a surviving spouse), then they shall appraise at the true value thereof in money and lay off and allot to the after-born child so much of the intestate real estate as will, in their judgment, be equal in value to what would have been such after-born child’s share of both the real and personal estate (subject as aforesaid) of the deceased parent, if such parent had died intestate; and if all the intestate real estate shall not, in the judgment of the freeholders, be equal in value (subject as aforesaid) to what would have been the after-born child’s share of the real and personal estate of the deceased parent if the parent had died intestate, then the freeholders shall appraise all the intestate real estate at the true value thereof in money and, at such appraisement, allot the same to the after-born child towards such child’s share of the deceased parent’s estate. The allotment of intestate real estate under the foregoing provisions to after-born children, where there are more than 1, shall not be made to them in severalty, but as parceners. If there shall be a surviving spouse entitled to dower or thirds in or to any portion of the deceased parent’s estate, real or personal, testate or intestate, the value of the whole estate and of the share of the after-born child shall be ascertained as aforesaid with reference to the rights and interests of such surviving spouse, in such manner as to do justice to the parties concerned and unless dower shall have been previously assigned to or released by the surviving spouse the real estate allotted to such after-born child shall be so allotted subject to such surviving spouse’s interest therein.

(c) The Court of Chancery, in making the order, may add such further instructions as it deems necessary to give full effect to the foregoing provisions.
12 Del. C. § 3902 — Delaware Code / Title 12 / Chapter 39 / Subchapter I / Section 3902
§ Â
        3902. Appointment of guardian; choice by minor over 14 years of age; guardian ad litem.
Status: in_force

(a) Except in accordance with § 925(15) of Title 10 and § 3904 of this title, no person shall have any right or authority as guardian of a person with a disability unless the person has been duly appointed by the Court of Chancery or admitted by a court of law or equity to defend a suit as guardian ad litem.

(b) The sole surviving parent of a minor child may, by written declaration or last will, name a guardian of the person or property or both of the parent’s child, who shall be appointed if there is no just cause to the contrary. Any parent may by written declaration or will name a guardian as to the property which the parent’s child may inherit from any person, who shall be appointed if there is no just cause to the contrary.

(c) When there is no designation of guardian by written declaration or last will of the minor’s sole surviving parent, or there is just cause for not appointing the guardian so designated, a minor 14 years of age or over and resident in this State may choose a guardian and the Court, if there is no just cause to the contrary, shall appoint the person chosen.

(d) When there is no designation of guardian by written declaration or last will of the minor’s sole surviving parent, or there is just cause for not appointing the guardian so designated, and a minor is under the age of 14 years, or is resident out of the State or neglects to choose a proper guardian, the Court may appoint a guardian according to its discretion.

(e) When a guardian is appointed for a minor under 14 years of age, unless such appointment is according to a written declaration or the last will of a minor’s sole surviving parent, if the minor, after arriving at the age of 14 years, chooses another person for a guardian, the Court shall appoint the person so chosen, if there is no just cause to the contrary and the preceding guardianship shall be thereby superseded.
12 Del. C. § 321 — Delaware Code / Title 12 / Chapter 3 / Subchapter II / Section 321
§ Â
        321. Share of surviving spouse.
Status: in_force

The descent or devolution of the estate, real or personal, of a married person who, before the marriage, has made a last will and testament and has not made provision for the married person’s spouse by will or otherwise, shall be subject to the following rights of the surviving husband or widow:

(1) If the testator leaves a widow, she shall have the same part of his estate, real and personal, as she would have been entitled to if he had died intestate;

(2) If the testatrix leaves a husband, he shall have the same part of her estate, real and personal, as he would have been entitled to if she had died intestate.
12 Del. C. § Â§ 1156 — Delaware Code / Title 12 / Chapter 11 / Subchapter II / Section Â§ 1156
§ Â
        Â 1156. Periods of limitation.
Status: in_force

(a) Expiration, before, on, or after February 2, 2017, of a period of limitation on an owner’s right to receive or recover property, whether specified by contract, statute, or court order, does not prevent the property from being presumed abandoned or affect the duty of a holder to file a report or pay or deliver property to the State Escheator under this chapter.

(b) The State Escheator may not commence an action or proceeding to enforce this chapter with respect to the reporting, payment, or delivery of property more than 10 years after the duty arose. The period of limitation established by this subsection is tolled by the earlier of the State Escheator’s delivery of a notice of an examination to a holder under this chapter, the Secretary of State’s delivery of notice that the person may enter into an unclaimed property voluntary disclosure agreement under § 1172(a) of this title, or the holder’s written election to enter into an unclaimed property voluntary disclosure agreement under § 1173 of this title, or if the State Escheator reasonably concludes that the holder has filed a report containing a fraudulent or wilful misrepresentation.
12 Del. C. § 1220 — Delaware Code / Title 12 / Chapter 11 / Subchapter V / Section 1220
§ Â
        1220. Declaration of escheat.
Status: in_force

All postal savings system accounts created by the deposits of persons whose last known addresses are in this State which have not been claimed by the persons entitled thereto before June 1, 1971, are presumed to have been abandoned by their owners and are declared to escheat and become the property of the State.
12 Del. C. § 1504 — Delaware Code / Title 12 / Chapter 15 / Subchapter I / Section 1504
§ Â
        1504. Grant of letters of administration.
Status: in_force

(a) Letters of administration, with the will annexed, of the estate of a domiciliary decedent for whom a will has been admitted to probate in accordance with this title, and letters of administration of the estate of a domiciliary decedent for whom no will shall have been admitted to probate in accordance with this title, shall be granted by the Register of Wills of the county in which the decedent was domiciled.

(b) Letters of ancillary administration, with the will annexed, of a nondomiciliary decedent for whom a will has been admitted to probate in accordance with this title, and letters of ancillary administration of the estate of a nondomiciliary decedent for whom no will has been admitted to probate in accordance with this title, shall be granted by the Register of Wills for any county. The administration which shall first be lawfully granted in either case shall extend to all the estate of the decedent within Delaware, and shall exclude the jurisdiction of the Register for any other county.
12 Del. C. § 2912 — Delaware Code / Title 12 / Chapter 29 / Section 2912
§ Â
        2912. Uniformity of application and construction [Effective Jan. 1, 2014, but see Ââ2914 of this title for future applicability].
Status: in_force

In applying and construing this chapter, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact similar legislation.
12 Del. C. § 208 — Delaware Code / Title 12 / Chapter 2 / Subchapter I / Section 208
§ Â
        208. Revocation of wills generally.
Status: in_force

A last will and testament, or any clause thereof, shall not be altered, or revoked, except by canceling by the testator, or by some person in the testator’s presence and by the testator’s express direction, or by a valid last will and testament, or by a writing signed by the testator, or by some person subscribing the testator’s name in the testator’s presence and by the testator’s express direction, and attested and subscribed in the testator’s presence by 2 or more credible witnesses; but this clause shall not preclude nor extend to an implied revocation.
12 Del. C. § 1159 — Delaware Code / Title 12 / Chapter 11 / Subchapter II / Section 1159
§ Â
        1159. Disposal of securities [For application of this section, see 83 Del. Laws, c. 346, Â 12].
Status: in_force

If a security is delivered to the State Escheator under this chapter on or after July 1, 2017, the State Escheator shall, subject to § 1150 of this title, sell the security on any established stock exchange or by such other means as the State Escheator deems advisable as soon as the State Escheator deems practicable after the delivery. The State Escheator may not sell a security listed on an established stock exchange for less than the price prevailing on the exchange at the time of sale. The State Escheator may sell a security not listed on an established exchange by any commercially-reasonable method.
12 Del. C. § 2337 — Delaware Code / Title 12 / Chapter 23 / Subchapter III / Section 2337
§ Â
        2337. Appointment of Magistrate; exceptions to Magistrateâs report.
Status: in_force

The Court of Chancery, instead of hearing in the first instance an application for a decree of distribution under this subchapter, may appoint a Magistrate to hear the same who shall thereafter proceed in accordance with this subchapter, and thereupon the Magistrate shall make a report to the Court recommending the decree to be entered in the proceeding. Such report shall be subject to exceptions by the personal representative of the estate or any person claiming to have an interest therein and such exceptions shall be heard by the Court and thereafter a decree shall be entered by the Court in the proceeding.
12 Del. C. § 2333 — Delaware Code / Title 12 / Chapter 23 / Subchapter III / Section 2333
§ Â
        2333. Order fixing hearing date and providing for notice.
Status: in_force

(a) Upon the filing of the petition provided for under § 2332 of this title, the Court of Chancery, after having satisfied itself of the sufficiency of the petition, shall make an order:

(1) Taking jurisdiction of the proceeding;

(2) Setting the application for a decree of distribution down for a hearing before the Court, at a time fixed in such order;

(3) Providing for written notice and delivery of a copy of the petition by certified mail to each person who is named in the petition as a person who claims or may claim an interest in the estate to be distributed, and each such person of whom the Court otherwise has knowledge, and also to the personal representative of the decedent, if the personal representative is not the petitioner in the proceeding;

(4) Providing for the publication of the notice in a newspaper published in the county, at least once a week for at least 4 weeks before the date of such hearing.

(b) The notice shall be mailed and published by and in the name of the Register of Wills of the county in which the proceeding is pending, and shall be in substantially the following form:

  IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE IN AND FOR COUNTY

TO ALL PERSONS CLAIMING TO HAVE AN INTEREST IN THE DISTRIBUTION OF THE ESTATE OF , DECEASED, INCLUDING PERSONS CLAIMING TO BE HEIRS, LEGATEES, BENEFICIARIES OR OTHER DISTRIBUTEES OF SAID ESTATE.

YOU ARE HEREBY NOTIFIED that an application has been made to the Court of Chancery of the State of Delaware, in and for County, for a decree of distribution of the estate of said decedent and that the application has been set down for a hearing before the Court on the day of A.D. , at M., in the courtroom of the Court of Chancery in the County Courthouse in the City of , Delaware.

You are further notified that if you desire to make any claim to an interest in the distribution of the estate, or to all or any part of the distributable amount of the estate, you must appear before the Court at the time and place aforesaid and present such claim together with any evidence you desire to present to sustain such claim.

Your failure to appear and present your evidence at the time and place aforesaid will be at your peril.

Register of Wills of

County.
12 Del. C. § 2315 — Delaware Code / Title 12 / Chapter 23 / Subchapter II / Section 2315
§ Â
        2315. Payment of legacies or distributive shares to minors or persons absent from the State.
Status: in_force

(a) If an executor or administrator cannot pay over money in the executor’s or administrator’s hands as such because of the infancy or absence from the State of a person entitled to a legacy or distributive share of personal estate, or any part thereof, the executor or administrator may deposit the same in any state or national bank with its principal office in the State to the credit of the person so entitled; and the executor or administrator shall take from the cashier a certificate of deposit, and deliver the same to the Register of Wills for the county where the deposit is made, to be by the Register of Wills recorded in accordance with § 2320 of this title; and the record of the certificate, or a certified copy thereof, shall be evidence.

(b) Whenever the party entitled to any deposit under subsection (a) of this section is a minor, the executor or administrator shall, in respect to the minor, make a report to the Court of Chancery in the county where the deposit is made of the executor’s or administrator’s proceedings under subsection (a) of this section, and shall exhibit to and file in the Court, the original certificate of deposit, which shall be recorded in the Court.

(c) A deposit under this section and a compliance with its provisions shall be a sufficient discharge of the executor or administrator, and of the executor’s or administrator’s sureties, for the money so deposited.
12 Del. C. § 2908 — Delaware Code / Title 12 / Chapter 29 / Section 2908
§ Â
        2908. Securing payment of estate tax from property in possession of fiduciary [Effective Jan. 1, 2014, but see Ââ2914 of this title for future applicability].
Status: in_force

(a) A fiduciary may defer a distribution of property until the fiduciary is satisfied that adequate provision for payment of the estate tax has been made.

(b) A fiduciary may withhold from a distributee an amount equal to the amount of estate tax apportioned to an interest of the distributee and the estate tax required to be advanced by the distributee.

(c) As a condition to a distribution, a fiduciary may require the distributee to provide a bond or other security for the portion of the estate tax apportioned to the distributee and also for the estate tax required to be advanced by the distributee.
12 Del. C. § 3992 — Delaware Code / Title 12 / Chapter 39 / Subchapter VII / Section 3992
§ Â
        3992. Duties of the Commission.
Status: in_force

The Commission shall advocate for the welfare of individuals who are incapacitated; shall work with advocacy groups and state agencies to promote systemic reform; recommend changes in the law, procedure and policy necessary to enhance the provision of guardianship services and the protection of those unable to protect themselves; and act as an informational resource for the public. To that end, the Commission shall meet on a quarterly basis and shall:

(1) Act in an advisory capacity to the Office of the Public Guardian, providing assistance to the Public Guardian in establishing administrative policies and procedures in the Office of the Public Guardian, and assistance in developing case acceptance priorities for the Office of the Public Guardian;

(2) Examine and evaluate the policies, procedures and effectiveness of the guardianship system, and make recommendations for changes therein, including establishing statewide standards and regulation of public and private guardianships;

(3) Conduct an annual statewide needs assessment relating to the number of individuals currently and predicted to be in need of a decision maker due to incapacity, the resources available or needed to meet that need, and to the processes utilized to meet the need;

(4) Advocate for legislation and make legislative recommendations to the Governor and the General Assembly;

(5) Develop public and professional education programs on issues relating to guardianship, alternatives to guardianship, and concerns relating to the abuse, neglect, and exploitation of individuals who are incapacitated; and

(6) Provide an annual summary of the work and recommendations of the Guardianship Commission, including the work of the Office of the Public Guardian to the Governor, the General Assembly, and the court.
12 Del. C. § 1711 — Delaware Code / Title 12 / Chapter 17 / Section 1711
§ Â
        1711. Revocation of letters and vacation of decree of presumed death â Effect upon pending actions and upon judgments rendered.
Status: in_force

After revocation of the letters, and vacation of the decree that the presumption of death has been established, the person erroneously presumed to be dead may, on the suggestion filed of record of the proper facts, be substituted as plaintiff or petitioner in all actions or proceedings at law or in equity brought by the executor or administrator, whether prosecuted to judgment or decree, or otherwise; the person erroneously presumed to be dead may, in all actions or proceedings previously brought against the executor or administrator, be substituted as defendant or respondent, on proper suggestion filed by the person erroneously presumed to be dead, or by proper service of writ or other process, but shall not be compelled to go to trial in less than 3 months from the time of such suggestion filed or process served. Judgments or decrees recovered against the executor or administrator before revocation and vacation of the letters and decree may be opened on application by the presumed decedent, made within 3 months from the revocation, and supported by affidavit denying specifically, on the knowledge of the affiant, the cause of action, or specifically alleging the existence of facts which would be a valid defense; but, if within 3 months, such application shall not be made, or being made the facts exhibited shall be adjudged an insufficient defense, the judgment or decree shall be conclusive to all intents, saving the defendant’s right to have it reviewed as in other cases on appeal. Notwithstanding the substitution of the presumed decedent as defendant in any judgment or decree, it shall continue as a lien upon the presumed decedent’s real estate in the county, as other judgments.
12 Del. C. § 2911 — Delaware Code / Title 12 / Chapter 29 / Section 2911
§ Â
        2911. Jurisdiction of Court of Chancery; action to determine or enforce chapter [Effective Jan. 1, 2014, but see Ââ2914 of this title for future applicability].
Status: in_force

(a) The Court of Chancery has jurisdiction and all power necessary to make the prorations and the orders directing the payment of amounts of tax contemplated by this chapter.

(b) Such jurisdiction may be invoked by petition filed in the Court of Chancery by an executor, administrator, temporary administrator, trustee or other person acting in a fiduciary capacity, transferee, beneficiary of the gross estate, or any other person having such an interest as may in the judgment of the Court entitle such person to file such a petition.

(c) The Court of Chancery, upon making a determination as provided in this chapter, shall make a decree or order directing the executor, administrator or other fiduciary to charge the prorated amounts against the persons against whom the tax has been so prorated, insofar as such person is in possession of property or interests of such persons against whom such charge has been made, and summarily directing all other persons against whom the tax has been so prorated or who are in possession of property or interests of such persons to make payment of such prorated amounts to such executor, administrator or other fiduciary or to another person who has paid such tax.
12 Del. C. § 3544 — Delaware Code / Title 12 / Chapter 35 / Subchapter III / Section 3544
§ Â
        3544. Successor trustee.
Status: in_force

Unless provided otherwise by the terms of the governing instrument or by order of court, in the absence of actual knowledge of a breach of trust, or information concerning a possible breach of trust that would cause a reasonable person to inquire, a successor trustee appointed in accordance with the terms of the governing instrument, by the court, or by nonjudicial settlement agreement, is under no duty to examine the accounts and records of a predecessor trustee, is under no duty to inquire into or confirm the validity of a governing instrument or actions by a predecessor trustee altering or modifying a governing instrument or to inquire into the acts or omissions of its predecessor, is not liable for any failure to seek redress for any act or omission of any predecessor trustee, shall have responsibility only for property which is actually delivered to it by its predecessor, and shall have all of the powers and discretions conferred in the governing instrument upon the original trustee.
12 Del. C. § 3305 — Delaware Code / Title 12 / Chapter 33 / Section 3305
§ Â
        3305. Retention by bank or trust company acting as a fiduciary of its own stock.
Status: in_force

Unless expressly provided otherwise in any instrument specified in § 3303 of this title, a bank or trust company acting as a fiduciary and authorized so to act may retain in a trust estate shares of its own capital stock acquired in any manner referred to in § 3304 of this title, as effectively as though the instrument creating or defining the fiduciary’s duties and powers expressly so provided, subject to the limitations of the standards set forth in § 3302 of this title.
12 Del. C. § 3338 — Delaware Code / Title 12 / Chapter 33 / Section 3338
§ Â
        3338. Nonjudicial settlement agreements [For application of this section, see 79 Del. Laws, c. 172, Â 6; 80 Del. Laws, c. 153, Â 5].
Status: in_force

(a) For purposes of this section, “interested persons” means persons whose consent would be required in order to achieve a binding settlement were the settlement to be approved by the Court of Chancery. With respect to any nonjudicial settlement agreement regarding a trust, the term “interested persons” means all whose interest in the trust would be affected by the proposed nonjudicial settlement agreement, which may include:

(1) Trustees and other fiduciaries;

(2) Trust beneficiaries, who will generally be those with a present interest in the trust and those whose interest in the trust would vest, without regard to the exercise or nonexercise of any power of appointment, if the present interests in the trust terminated on the date of the nonjudicial settlement agreement; provided, however, that if the trustor is a party to the nonjudicial settlement agreement, and if the nonjudicial settlement agreement alters any beneficial interest in the trust, then the trust beneficiaries are all beneficiaries having an interest in the trust;

(3) The trustor of the trust, if living; and

(4) All other persons having an interest in the trust according to the express terms of the governing instrument (such as, but not limited to, holders of powers of appointment over trust property, holders of powers to remove or appoint fiduciaries or nonfiduciaries with respect to the trust, and persons having other rights, held in a nonfiduciary capacity, relating to trust property).

(b) Except as otherwise provided in subsection (c) of this section, interested persons may enter into a binding nonjudicial settlement agreement with respect to any matter involving a trust.

(c) A nonjudicial settlement agreement is valid only to the extent it does not violate a material purpose of the trust, and if applicable, does not change the trust’s purpose in a manner that would violate § 3303(b) of this title if the change was effected by court order; provided, however, that this subsection shall not apply in cases where the trustor is a party to the nonjudicial settlement agreement.

(d) If the trustor is a party to the nonjudicial settlement agreement, then unless the trustor, or a person acting on behalf of the trustor, confirms in writing that the transfer in trust is an incomplete gift for federal gift tax purposes, the trustor may not represent and bind any beneficiary (other than the trustor) with respect to the nonjudicial settlement agreement, notwithstanding any provision in the governing instrument, or applicable law, that provides that the trustor may represent or bind 1 or more beneficiaries.

(e) Matters that may be resolved by a nonjudicial settlement agreement include:

(1) The interpretation or construction of the terms of the trust;

(2) The approval of a trustee’s report or accounting;

(3) The direction to a trustee to refrain from performing a particular act or the grant to a trustee of any necessary or desirable power;

(4) The resignation, removal, or appointment of a trustee and the determination of a trustee’s compensation;

(5) The transfer of a trust’s principal place of administration; and

(6) The liability of a trustee for an action relating to the trust.

(f) Any interested person may bring a proceeding in the Court of Chancery to interpret, apply, enforce, or determine the validity of a nonjudicial settlement agreement adopted under this section, including but not limited to determining whether the representation as provided in § 3547 of this title was adequate.
12 Del. C. § 4307 — Delaware Code / Title 12 / Chapter 43 / Section 4307
§ Â
        4307. Nonliability of third persons.
Status: in_force

(a) No person who participates in the acquisition, disposition, assignment or transfer of a security by or to a fiduciary including a person who guarantees the signature of the fiduciary is liable for participation in any breach of fiduciary duty by reason of failure to inquire whether the transaction involves such a breach unless it is shown that the person acted with actual knowledge that the proceeds of the transaction were being or were to be used wrongfully for the individual benefit of the fiduciary or that the transaction was otherwise in breach of duty.

(b) If a corporation or transfer agent makes a transfer pursuant to an assignment by a fiduciary, a person who guaranteed the signature of the fiduciary is not liable on the guarantee to any person to whom the corporation or transfer agent by reason of this chapter incurs no liability.

(c) This section does not impose any liability upon the corporation or its transfer agent.
12 Del. C. § 49A-204 — Delaware Code / Title 12 / Chapter 49A / Subchapter II / Section 49A-204
§ Â
        49A-204. Real property.
Status: in_force

Unless the personal power of attorney otherwise provides, language in a personal power of attorney granting general authority with respect to real property authorizes the agent to:

(1) Demand, buy, lease, receive, accept as a gift or as security for an extension of credit, or otherwise acquire or reject an interest in real property or a right incident to real property;

(2) Sell; exchange; convey with or without covenants, representations, or warranties; quitclaim; release; surrender; retain title for security; encumber; partition; consent to partitioning; subject to an easement or covenant; subdivide; apply for zoning or other governmental permits; plat or consent to platting; develop; grant an option concerning; lease; sublease; contribute to an entity in exchange for an interest in that entity; or otherwise grant or dispose of an interest in real property or a right incident to real property;

(3) Pledge or mortgage an interest in real property or right incident to real property as security to borrow money or pay, renew, or extend the time of payment of a debt of the principal or a debt guaranteed by the principal;

(4) Release, assign, satisfy, or enforce by litigation or otherwise a mortgage, deed of trust, conditional sale contract, encumbrance, lien, or other claim to real property which exists or is asserted;

(5) Manage or conserve an interest in real property or a right incident to real property owned or claimed to be owned by the principal, including:

a. Insuring against liability or casualty or other loss;

b. Obtaining or regaining possession of or protecting the interest or right by litigation or otherwise;

c. Paying, assessing, compromising, or contesting taxes or assessments or applying for and receiving refunds in connection with them; and

d. Purchasing supplies, hiring assistance or labor, and making repairs or alterations to the real property;

(6) Use, develop, alter, replace, remove, erect, or install structures or other improvements upon real property in or incident to which the principal has, or claims to have, an interest or right;

(7) Participate in a reorganization with respect to real property or an entity that owns an interest in or right incident to real property and receive, and hold, and act with respect to stocks and bonds or other property received in a plan of reorganization, including:

a. Selling or otherwise disposing of them;

b. Exercising or selling an option, right of conversion, or similar right with respect to them; and

c. Exercising any voting rights in person or by proxy;

(8) Change the form of title of an interest in or right incident to real property; and

(9) Dedicate to public use, with or without consideration, easements or other real property in which the principal has, or claims to have, an interest.
12 Del. C. § 3861 — Delaware Code / Title 12 / Chapter 38 / Subchapter II / Section 3861
§ Â
        3861. Service of process on unregistered foreign statutory trusts.
Status: in_force

(a) Any foreign statutory trust which shall do business in the State without having registered under § 3852 of this title shall be deemed to have thereby appointed and constituted the Secretary of State of the State its agent for the acceptance of legal process in any civil action, suit or proceeding against it in any state or federal court in the State arising or growing out of any business done by it within the State. The doing of business in the State by such foreign statutory trust shall be a signification of the agreement of such foreign statutory trust that any such process when so served shall be of the same legal force and validity as if served upon an authorized manager or agent personally within the State. Process may be served upon the Secretary of State under this subsection by means of electronic transmission but only as prescribed by the Secretary of State. The Secretary of State is authorized to issue such rules and regulations with respect to such service as the Secretary of State deems necessary or appropriate.

(b) Whenever the words “doing business,” “the doing of business” or “business done in this State” by any such foreign statutory trust are used in this section, they shall mean the course or practice of carrying on any business activities in the State, including, without limiting the generality of the foregoing, the solicitation of business or orders in the State; provided, however such words shall be deemed to have the same meaning as similar words of like import in § 371 of Title 8, but the requirement of such foreign statutory trust to register under § 3852 of this title shall be subject to the same exceptions as are set forth in § 373 of Title 8.

(c) In the event of service upon the Secretary of State in accordance with subsection (a) of this section, the Secretary of State shall forthwith notify the foreign statutory trust thereof by letter, directed to the foreign statutory trust at the address furnished to the Secretary of State by the plaintiff in such action, suit or proceeding. Such letter shall be sent by a mail or courier service that includes a record of mailing or deposit with the courier and a record of delivery evidenced by the signature of the recipient. Such letter shall enclose a copy of the process and any other papers served upon the Secretary of State. It shall be the duty of the plaintiff in the event of such service to serve process and any other papers in duplicate, to notify the Secretary of State that service is being made pursuant to this subsection, and to pay to the Secretary of State the sum of $50 for the use of the State, which sum shall be taxed as part of the costs in the proceeding, if the plaintiff shall prevail therein. The Secretary of State shall maintain an alphabetical record of any such process setting forth the name of the plaintiff and defendant, the title, docket number and nature of the proceeding in which process has been served upon the Secretary of State, the return date thereof, and the day and hour when the service was made. The Secretary of State shall not be required to retain such information for a period longer than 5 years from receipt of the service of process.
12 Del. C. § 3802 — Delaware Code / Title 12 / Chapter 38 / Subchapter I / Section 3802
§ Â
        3802. Contributions by beneficial owners.
Status: in_force

(a) A contribution of a beneficial owner to the statutory trust may be in cash, property or services rendered, or a promissory note or other obligation to contribute cash or property or to perform services; provided however, that a person may become a beneficial owner of a statutory trust and may receive a beneficial interest in a statutory trust without making a contribution or being obligated to make a contribution to the statutory trust.

(b) Except as provided in the governing instrument, a beneficial owner is obligated to the statutory trust to perform any promise to contribute cash, property or to perform services, even if the beneficial owner is unable to perform because of death, disability or any other reason. If a beneficial owner does not make the required contribution of property or services the beneficial owner is obligated at the option of the statutory trust to contribute cash equal to that portion of the agreed value (as stated in the records of the statutory trust) of the contribution that has not been made. The foregoing option shall be in addition to, and not in lieu of, any other rights, including the right to specific performance, that the statutory trust may have against such beneficial owner under the governing instrument or applicable law.

(c) A governing instrument may provide that the interest of any beneficial owner who fails to make any contribution that the beneficial owner is obligated to make shall be subject to specific penalties for, or specified consequences of, such failure. Such penalty or consequence may take the form of reducing or eliminating the defaulting beneficial owner’s proportionate interest in the statutory trust, subordinating the beneficial interest to that of nondefaulting beneficial owners, a forced sale of the beneficial interest, forfeiture of the beneficial interest, the lending by other beneficial owners of the amount necessary to meet the beneficiary’s commitment, a fixing of the value of the defaulting beneficial owner’s beneficial interest by appraisal or by formula and redemption or sale of the beneficial interest at such value, or any other penalty or consequence.