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The document is a Vehicle Transfer Notification form from the Delaware Department of Transportation, Division of Motor Vehicles. It is used by sellers to report the sale of a vehicle without providing buyer information. The seller certifies the transfer and acknowledges their obligation under Delaware law to notify the DMV with buyer details. The form requests the DMV to flag the vehicle as sold, while clarifying that this action does not change ownership or prevent law enforcement inquiries.

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What is Section 203 of the Delaware Code?

In general, Section 203 defines an interested stockholder as any entity or person beneficially owning 15% or more of the outstanding voting stock of the corporation and any entity or person affiliated with or controlling or controlled by the entity or person.

What is right of first refusal Delaware?

If the tenant decides not to exercise that tenants option, upon the expiration of the 90-day period, the option shall convert into a right of first refusal, meaning that the property shall not be sold to any other purchaser at any time, at any price or terms without first having been offered on the same terms to the

How much does it cost to transfer title in Delaware?

The fee for transferring title to a vehicle shall be $35. A $35 penalty fee shall be charged for the issuance of a new certificate of title on a Delaware titled vehicle when the application is received more than 30 days after the transfer date of said vehicle.

Do both parties have to be present to transfer a title in Delaware?

DMV recommends that all parties appear at our office to complete the transfer. The vehicle may not be operated until a new title is issued in the buyers name. Failure to transfer a title within 30 days of purchase will result in a $35.00 late fee.

What is Section 203 of the Delaware law?

Section 203 is an antitakeover statute in Delaware which provides that if a person or entity (an interested stockholder) acquires 15% or more of the voting stock of a Delaware corporation (the target) without prior approval of the targets board, then the interested stockholder may not engage in a business

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What is a putative stock?

Putative shares means the shares of any class or series of the corporation, including shares issued upon exercise of rights, options, warrants, or other securities convertible into shares of the corporation, or interests with respect to such shares, that were created or issued as a result of a defective corporate

What is a DGCL 203 waiver?

The restrictions described in 203 are intended to delay the ability of a hostile acquirer to quickly complete a hostile acquisition of the corporation unless the target corporations board consents. Note that the requirements of 203 can be waived by a resolution of the target corporations board.

What are the requirements for a short form merger in Delaware?

Short-Form Mergers Under Delaware Law Under the law, a parent corporation can merge with a subsidiary corporation without going through certain formalities. To do so, the parent corporation must own at least 90% of the outstanding shares of each class of the stock of the subsidiary corporation.

Delaware noted transferred 2025

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