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Transparency and Sustainability Standards Act

Submitted by UCS on October 1, 2018

Today, October 1, 2018, The Statement of Adoption of Transparency and Sustainability Standards Act becomes effective in Delaware.

The act establishes a voluntary system to foster dialogue around sustainability and responsibility among participating entities and their various stakeholders.

“The intent of this chapter is to support Delaware business entities in their global sustainability efforts. This chapter is enabling legislation that permits a Delaware entity to signal its commitment to global sustainability. This chapter does not purport to prescribe which sustainability standards an entity chooses to adopt. Thus, a Delaware entity is free to choose standards promulgated or developed by any entity.” Full text of the Act can be found here.

The Division of Corporations will begin accepting filings pursuant to the Act starting today. A sample filing form can be found here and fees can be found below:

• Statement of Adoption (Standards Statement): $200 + $50*
• Renewal Statement: $200
• Restoration Statement: $5,000
• Issuance of Certificate of Adoption and Availability of Transparency and Sustainability Standards Reporting: $50
• Issuance of other certificates (including certificate of non-reporting status): $50

*A Certificate of Adoption and Availability of Transparency and Sustainability Standards Reporting is required to be issued at the time of filing.

Paula Lintner is the Delaware Branch Manager for United Corporate Services, Inc. Over the past 21 years, Paula has assisted hundreds of small business owners fulfill their dream of starting their own business. Additionally, Paula helps paralegals and attorneys navigate through the details of Delaware corporate transactions, as well as contributing to the product and process development within the teams she has been a part of. Her experiences and expertise have allowed her to develop an invaluable relationship with the Delaware Division of Corporations staff which she shares with all UCS clients. Have a question or a suggestion for a blog? Contact Paula at paula.lintner@unitedcorporate.com

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