I called Delaware and they disagreed with what Glow posted.
Post from Toanoman
Wednesday, 05/27/20 10:12:04 PM
Re: long uoip post# 79593
Post # 79669 of 80182
I called Delaware and they disagreed with what Glow posted.
> Delaware SOS - Division of Corporations spoke with Veronica @ #302-739-3073).
UOIP #703828 only has to file forms for missing years and pay fees to get back in good graces of Delaware. She said it happens all the time and is no big deal. It still exists and full reinstatement is possible- even after 10 years or more.
Delaware status of a corporation has no legal effect on share of stock. It doesn't make them not exist. She said that was wrong.
Do NOT let someone claim that Delaware has cancelled your shares making them bogus
Carter or Registered Agent (The Corporation Trust Company) can fix this.
UOIP #703828 still exists in the Delaware Registered Agents system
but it is in a "void" status for nonpayment of fees/taxes.
I also called Registered Agent : The Corporation Trust Company
#302-658-7581 and confirmed the above facts for UOIP #703828.
Per Registered Agent: Deleware just wants 1) their money and 2)to certify under the "Patriot Act" that UOIP is an OK company.
She was very emphatic that Delaware status had nothing to do with stock shares being valid. She could not comment on SEC regulation.
(But we know from SEC that revocation only meant UOIP stopped being a public company but would still exist as a private company.)
They referred me to : Delaware law web site
Delaware:
CHAPTER 1. GENERAL CORPORATION LAW
For 3 years from date of non-payment: When an entity has failed to pay their yearly taxes or maintain a Registered Agent, it may fall into a status other that good standing. To return your entity back into a good standing status, the Delaware Code requires that certain documents be filed and all back taxes and filing fees paid.
§ 311 Revocation of voluntary dissolution; restoration of expired certificate of incorporation.
“..any corporation that revives its certificate of incorporation under this chapter whose certificate of incorporation has been forfeited or void for more than 5 years shall, in lieu of the payment of the franchise taxes and penalties otherwise required by this subsection, pay a sum equal to 3 times the amount of the annual franchise tax that would be due and payable by such corporation for the year in which the revival is effected, computed at the then current rate of taxation.”
How to Reinstate a Corporation
A corporation's officers may neglect to complete some of the required administrative duties or pay fees/taxes. Fortunately, a company can reinstate its corporate status if it has not been out of compliance for too long.
Step 1. Confirm the corporation's status with the secretary of state of the state in which the articles of incorporation or certificate of formation were filed.
Step 2. Determine how long UOIP corporation was in non-compliance.
Step 3. Apply for Reinstatement. The corporation's officer or registered agent must complete and sign the application. All states allow an inactive, administratively dissolved company to reinstate as long as the lapsed period is within the state maximum. For Delaware, this is 3 years – just file correct forms and pay owed fees/taxes. After 5 years, reinstatement can be done but requires payment of triple fees owed.
Step 4. Submit the documents and payment either online or via mail. All reinstatement applications require the payment of a reinstatement fee.
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