Delaware has never had requirements for sending out due diligence letters, until now. Regulation 965 has been passed and is effective March 31st, 2012.
In short, holders with securities related property valued at $250 or more are required to send due diligence letters. The letters must be sent first class mail at least 60 days but not more than 120 days before the report is due.
You can view the regulation
here starting on page 128. The regulation includes due diligence requirements, suggested wording for the letter, and explains what may be deducted for your mailing costs.
Author; Danielle Herring
Product Manager, UPExchange
Labels: UP Legislative Updates
