Client Alerts

Delaware Trust Act 2019 Legislative Update

Delaware Governor John C. Carney has signed House Bill 72 into law (“Trust Act 2019”).  The legislation, signed on June 19, 2019, further improves and modernizes Delaware trust law, including the following highlights: adding Section 3343 to Title 12 of the Delaware Code, which empowers a fiduciary who has the power to appoint successor trustees to appoint multiple trustees and to allocate... Continue Reading

Unclaimed Property Audit Alert: New Round of Delaware Voluntary Compliance “Invitations” Will Be Issued This Week

On Monday, May 20th, the Delaware Secretary of State issued a notice announcing that the State will distribute letters this week inviting companies to enter the Abandoned or Unclaimed Property Voluntary Disclosure Agreement Program (“VDA Program”).  This is a continuation of the State’s heightened enforcement initiative that we highlighted earlier this year.  We believe this round of... Continue Reading

Delaware Corporation Law Section Approves Amendments to Delaware’s Alternative Entity Acts

On April 4, 2019, the Corporation Law Section of the Delaware State Bar Association approved amendments to the Delaware Limited Liability Company Act, 6 Del. C. §§ 18-101 et seq. (the “DLLCA”), the Delaware Revised Uniform Limited Partnership Act, 6 Del. C. §§ 17-101 et seq. (the “DRULPA”), and the Delaware Revised Uniform Partnership Act, 6 Del. C. §§... Continue Reading

Be On Alert—State of Delaware Ramps Up Unclaimed Property Enforcement

For those who thought the State of Delaware had gone out of the unclaimed property business—think again. After a 2017 overhaul of Delaware’s unclaimed property laws and an increased emphasis on voluntary compliance with those laws, Delaware is sending out dozens of “invitations” to companies to enter its Abandoned or Unclaimed Property Voluntary Disclosure Agreement Program (the “VDA... Continue Reading

District of Delaware to Continue Operations During Shutdown

On January 16, 2019, the U.S. District Court for the District of Delaware released a Notice regarding Court operations during the current lapse in appropriations. Although the Administrative Office of the United States Courts has advised that funding for Fiscal Year 2019 will be exhausted on Friday, January 25, the Court will “remain open and operational without disruption” after that date,... Continue Reading

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