Gennine Cooper No Comments

Delaware Boat Registration Series – Pt 1

“How does Delaware boat registration work?” or “I need to register my boat in Delaware. Can you help?”  are questions we often hear from clients.  The good news is that the Delaware boat registration process is relatively painless. Here’s a rundown on the basics.

Delaware boat registration white yacht on running on blue body of water during daytime 163236 e1613403337377

What documents will I need for my Delaware boat registration?

All vessel owners must complete a Delaware Department of Natural Resources and Environmental Control (DNREC) boat registration application. Along with a state ID, driver’s license or passport, the following documentation is required:

Owners of new vessels must supply the original Manufacturer’s Certificate/Statement of Origin or Builder’s Certificate assigned to purchaser(s) and original the Bill of Sale if Certificate of Origin or Builder’s Certificate is not assigned to purchaser(s).

For used vessels, owners must provide the Original Title. (Note: If the boat is currently tilted in another state, DNREC will need the original for its records.) The seller must complete purchaser information and sign the title. If title has not been signed, the seller must complete a notarized bill of sale with a complete description of vessel. For non-title states only, the Original Registration is required and the seller must complete a notarized bill of sale with a complete description of vessel.

How long does the Delaware boat registration process take?

Once we have all of your documentation, the current turnaround time ranges from three to four weeks.  We will then email you proof of registration and the originals will be mailed out via regular mail or priority overnight.

What does the State of Delaware provide as proof of registration for my boat/vessel?

DNREC provides a boat registration card and two (2) decals. A verification letter can also be obtained, if needed.

What does the Delaware boat registration card look like?

The Delaware boat/vessel registration card is printed on white paper. They no longer provide a blue plastic registration card.

How long is the Delaware boat registration good for?

Delaware boat/vessel registrations are available in one or three year increments. Registration runs on a calendar year and is not prorated. Therefore, the fees will be the same and your registration will expire on December 31st, whether you register your boat/vessel in January or October.

What is the cost for a Delaware boat registration?

Fees vary depending on the length of the boat and whether you choose a one (1) year or three (3) year registration term.

If you have additional questions or need assistance with a Delaware boat registration, give us a call or email us. We’re happy to help!

Gennine Cooper No Comments

What is Registered Agent Resignation?

When forming a legal entity most states require the appointment of a registered agent.  The registered agent is responsible for sending state/government mail and accepting service of process (legal documents).  It is the entity’s responsibility to maintain the registered agent by paying the agent’s annual fee.  If the registered agent is not maintained, the agent has the right to resign as agent, per state statute.

What does resignation of agent mean for your entity?  Once the registered agent resigns your entity is put into an administrative status.  The name of the entity also becomes available for use.  Resignation of agent can cause legal implications for your business, as the right to transact business in the state has been compromised.  It can also result in additional fees, as the entity will need to reappoint the agent.

Quick tips to maintaining a relationship with your registered agent:

  • Reach out to the agent of record, understand their role, form the relationship so you know who to contact with questions, set the agent renewal date based on what works best for your business.
  • Make sure the registered agent has the correct contact information in their system, as this information is used for sending the annual invoices, state/government mail to possibly include annual report notices and the most important, service of process.
  • Set your billing cycle for what works best for your company.  Many clients choose a January – January billing cycle but, Incserv can set this to what works best for you.
  • Pay the registered agent invoice based on the payment terms.

If you have any questions about Incserv’s registered agent services, please feel free to reach out via email to info@incserv.com or by calling 302.531.0855.

 

Registered Agent Incserv color logo

Gennine Cooper No Comments

Delaware LLC Franchise Taxes Due by June 1st!

The Delaware 2019 Limited Liability Company, Limited Partnership and General Partnership taxes are due on or before June 1, 2020. If taxes are not paid by June 1, a penalty is assessed and interest will begin to accrue. Your company will no longer be in good standing and can even be at risk of going void.

DE 1st quarter taxes for Corporations are also due on or before June 1, 2020.

Taxes can be paid by:

  • Logging into Snapshot™, click here. (LLC, LP and GP taxes can be paid in Snapshot™) (Quarterly taxes cannot be paid through Snapshot™)
  • Calling Incserv to assist at 800.346.4646.
  • Going directly to the state website.

Sign up for ARFS now to allow Incserv to keep you in good standing; let us do the remembering for you!

If you have any questions or need help paying your taxes, give us a call or email us.  We’ll be happy to assist you!

 

Delaware Incserv color logo

Josh Twilley No Comments

The Perplexing World of Uniform Commercial Code Demystified! Pt 1: UCC Filings – What are they and where to file?

This post was updated on January 25, 2021.

The Uniform Commercial Code (UCC) can be perplexing. This post is the first in our multi-part series exploring UCC-1 filings, specifically what they are, and where to file.

A UCC-1 Financing Statement (an abbreviation for Uniform Commercial Code-1) is a legal form that a creditor files to give notice that it has or may have an interest in the personal property of a debtor. For example, if you lend money as part of a loan, or offer credit for the lease or purchase of equipment of any kind, you may file a UCC-1 The UCC-1 protects the creditor’s interest should the debtor default on the loan.

Filing the UCC-1 in a timely manner is very important too. As a secured party, you want to make sure the filing is filed before any other to secure your interests.

This all begs the question: Where do you file? The chart below lists out the most common debtor types and corresponding UCC filing protocols:

 

Debtor Type

Where to file UCC Financing Statements
Registered organizations (Corporation, LLC, LP, etc.) File at central filing office of state where entity was formed or organized (i.e., Secretary of State) and/or County recording office where principal office is located
Organizations with one place of business  File with the county or state of place of business
Organizations with multiple places of business  File with the county or state of chief executive office
Indian Tribes and Non-U.S. entity organized in foreign jurisdiction without a notice system  File in Washington, D.C. and other applicable jurisdictions
Individuals  File in the county or state of principal residence

 

Next up, Part II of our UCC series: understanding the “proper” way to complete a UCC-1 Financing Statement.

And as always, information within this post is intended for general information purposes only. Incserv and its employees cannot offer legal or financial advice. Please consult with your legal counsel for assistance in how this information may or may not affect you and your business prior to making any decisions. The above information (and any attachments) should be judged accordingly.