Delaware SB327 amends the Delaware Code to regulate family trust companies, including their organization, powers, restrictions, and capital.

Delaware SB327 amends Title 5 and Title 12 of the Delaware Code to establish regulations for family trust companies. These companies must be organized as corporations or limited liability companies and can only act as fiduciaries for family members. They are restricted from advertising to the general public and must maintain a principal place of business in Delaware. The bill outlines the process for obtaining a certificate of authority, including application requirements and fees.

Delaware SB327 amends the Delaware Code to regulate family trust companies, including their organization, powers, restrictions, and capital.

Delaware SB327 amends Title 5 and Title 12 of the Delaware Code to establish regulations for family trust companies. These companies must be organized as corporations or limited liability companies and can only act as fiduciaries for family members. They are restricted from advertising to the general public and must maintain a principal place of business in Delaware. The bill outlines the process for obtaining a certificate of authority, including application requirements and fees.