Delaware § 2405 - Registration.
Full text of Delaware Delaware Code § 2405 — Registration., with citation guidance and answers to common questions.
§ 2405. Registration.
(a) A credit services organization shall file a registration statement with the Secretary of State before conducting business in this State. The registration statement must contain:
(1) The name and address of the credit services organization; and
(2) The name and address of any person who directly or indirectly owns or controls 10 percent or more of the outstanding shares of stock in the credit services organization.
(b) The registration statement must also contain either:
(1) A full and complete disclosure of any litigation or unresolved complaint filed with a governmental authority of this State relating to the operation of the credit services organization; or
(2) A notarized statement that states that there has been no litigation or unresolved complaint filed with a governmental authority of this State relating to the operation of the credit services organization.
(3) The name and address of the credit services organization’s agent in the State authorized to receive service of process.
(c) The credit services organization shall update the statement not later than the ninetieth day after the date on which a change in the information required in the statement occurs.
(d) Each credit services organization registering hereunder shall maintain a copy of the registration statement in the files of the credit services organization. The credit services organization shall allow a buyer to inspect the registration statement on request.
(e) The Secretary of State may charge each credit services organization that files a registration statement with the Secretary of State a reasonable fee not to exceed $100 to cover the cost of filing. The Secretary of State may not require a credit services organization to provide information other than that provided in the registration statement.
(f) The bond or surety account shall be maintained until 2 years after the date that the credit services organization ceases operations.
68 Del. Laws, c. 180, § 1;Frequently Asked Questions About Delaware § 2405
What does Delaware Code § 2405 cover?
Section 2405 ("Registration.") is part of the Delaware Code, the codified statutory law of Delaware. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Delaware § 2405?
A common citation format is "Delaware Code § 2405" (Delaware). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Delaware law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Delaware official source linked on this page or consult a licensed Delaware attorney.
How does Delaware § 2405 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Delaware can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Delaware.