Delaware Code Title 29 Sec. 5813 – Report disclosing financial information
(a) Every public officer as defined in § 5812 of this title shall electronically file a report disclosing financial interests, as hereinafter provided. Each electronic report shall be submitted and electronically verified through the database maintained by the Commission for such records and shall include at least the following information:
(1) The name and position of the public officer; and
(2) The name, instrument and nature of ownership, and any position of management held by, or constructively controlled by, the public officer in any business enterprise in which legal or equitable ownership is in excess of $5,000 fair market value or from which income of more than $5,000 was either derived during the preceding calendar year or might reasonably be expected to be derived during the current calendar year. Time or demand deposits in a financial institution, or any debt instrument having a fixed yield shall not be listed unless convertible to an equity instrument; and
(3) The name, address and type of practice, without reference to the identity of any individual clients served, of any professional organization in which the public officer is the sole practitioner, officer, director or partner, or serves in any advisory capacity, or which is constructively controlled by the public officer, from which income of more than $5,000 was either derived during the preceding year or might reasonably be expected to be derived during the current calendar year; provided, however, that any such organization construed as a business enterprise and reported pursuant to paragraph (a)(2) of this section need not be reported under this subsection; and
(4) The source of each of the following items received during the preceding calendar year, or reasonably expected to be received during the current calendar year:
a. Any income derived for services rendered exceeding $1,000 from a single source, unless such income is otherwise identified pursuant to paragraph (a)(2) or (3) of this section; or
b. Any capital gain exceeding $1,000 from a single source other than from the sale of a residence occupied by the public officer; or
c. Any reimbursement for expenditures exceeding $1,000 from a single source; or
d. Any honoraria; or
e. Any gift with a value in excess of $250 received from any person, identifying also in each case the amount of each such gift. For purposes of compliance with this gift reporting obligation, the recipient may rely in good faith upon the representation of the source of the gift as to the gift’s value; and
(5) Each creditor to whom the public officer was indebted for a period of 90 consecutive days or more during the preceding calendar year in an aggregate amount in excess of $1,000.
Terms Used In Delaware Code Title 29 Sec. 5813
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Year: means a calendar year, and is equivalent to the words "year of our Lord. See Delaware Code Title 1 Sec. 302
(b) Each report required by this section shall contain a certification by the public officer that the officer has read the report, and that to the best of the officer’s knowledge and belief it is true, correct and complete, and that the officer has not and will not transfer any assets, interests or property for the purpose of concealing it from disclosure while retaining an equitable interest therein.
(c) Not later than 14 days after becoming a public officer as defined in § 5812 of this title, the report required by this subchapter shall be filed. Thereafter, the report shall be filed on March 15 of each year.
(d) Each report required by this section shall be filed with the Commission.
64 Del. Laws, c. 110, § ?1; 67 Del. Laws, c. 418, § ?2; 69 Del. Laws, c. 467, §§ ?21-23; 70 Del. Laws, c. 186, § ?1; 75 Del. Laws, c. 57, §§ ?4, 5; 77 Del. Laws, c. 353, § ?1; 79 Del. Laws, c. 349, § ?1;