reglab/housing_qa huggingface dataset:
5 DE Code § 1806. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 18. Taxation|§ 1806. Exemption from other taxes.

§ 1806. Exemption from other taxes. The taxation of the income of the building and loan associations under this chapter shall be in lieu of all taxes upon the capital, surplus, property and assets of such organization, except that no real estate owned by any such organization constituting the whole or any part of its capital, surplus or assets shall be exempt from taxation. 59 Del. Laws, c. 434, §  2;
5 DE Code § 1807. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 18. Taxation|§ 1807. Secrecy of returns and information; penalty.

§ 1807. Secrecy of returns and information; penalty. (a) Except in accordance with proper judicial order or as otherwise provided by law, it shall be unlawful for the Commissioner or any person who is an officer or employee in the Office of the Commissioner, or for any other officer or employee of this State who has access to tax returns or information from tax returns under this chapter, to disclose or make known to any person in any manner the amount of income or any particulars set forth or disclosed in any report or return required under this chapter. Notwithstanding the foregoing, the Commissioner may permit the Commissioner of Internal Revenue of the United States, the proper officer of this or any other state, the District of Columbia, or any possession or territory of the United States that imposes a tax, or the authorized representative of any of such officers, to inspect the tax return of any taxpayer under this chapter, and the Commissioner may furnish to any such officer, or such officer's authorized representative, an abstract of the tax return of any taxpayer under this chapter or supply such officer or such officer's authorized representative with information contained in any such tax return or disclosed by the report of examination or investigation of the income or return of such taxpayer, but only for the purpose of, and only to the extent necessary in, the administration of the tax laws of such jurisdiction; provided, however, that no such permission shall be granted, and no such information shall be furnished, to any such officer or the officer's representative unless the statutes of such jurisdiction grant substantially similar privileges to the Commissioner or the Commissioner's legal representative. (b) Nothing in this section shall be construed to prohibit the publication of statistics classified so as to avoid identification of specific taxpayers, or to prohibit the disclosure of the tax return or return information of any taxpayer to such person or persons as the taxpayer may designate in a written request or consent to such disclosure. (c) For purposes of this section, the term “officer or employee” shall include present and former officers and employees, and any person or persons employed or retained by the State on an independent contractor basis. (d) Any violation of this section shall be a misdemeanor, punishable upon conviction by a fine not to exceed $1,000, or imprisonment not to exceed 6 months, or both. The Superior Court shall have exclusive original jurisdiction over such misdemeanor. 72 Del. Laws, c. 15, §  27;  73 Del. Laws, c. 24, §  3;
5 DE Code § 1808. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 18. Taxation|§ 1808. Abatements.

§ 1808. Abatements. (a) The Commissioner is authorized to abate the unpaid portion of the assessment of any tax, interest, penalty, additional amount or addition to the tax, or any liability in respect thereof, which is:  (1) Excessive in amount; (2) Assessed after the expiration of the period of limitations properly applicable thereto; or (3) Erroneously or illegally assessed. (b) The Commissioner is authorized to abate any portion (whether or not theretofore paid) of the assessment of any tax, interest, penalty, additional amount or additions to the tax, or any liability in respect thereof, if the Commissioner determines under uniform rules prescribed by the Commissioner that the administration and collection costs involved would not warrant collection of the amount due. 72 Del. Laws, c. 15, §  27;
5 DE Code § 1809. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 18. Taxation|§ 1809. Closing agreements.

§ 1809. Closing agreements. The Commissioner, or any person authorized in writing by the Commissioner, is authorized to enter into an agreement in writing with any person relating to the liability of such person (or of another person for whom such person acts) with respect to any tax imposed under this chapter for any taxable period. Such agreement shall be final and conclusive, and, except upon a showing of fraud or malfeasance or misrepresentation of a material fact:  (1) The case shall not be reopened as to matters agreed upon or the agreement modified by any officer, employee or agent of this State; and (2) In any suit, action or proceeding, such agreement, or any determination, assessment, collection, payment, abatement, refund or credit made in accordance therewith, shall not be annulled, modified, set aside or disregarded.72 Del. Laws, c. 15, §  27;
5 DE Code § 1901. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 19. Powers and Conduct of Business|§ 1901. Members of association.

§ 1901. Members of association. All shareholders of record and all borrowers from a building and loan association shall be members thereof. A borrowing member obligated upon a real estate loan shall remain a member of the association, even though the member has transferred the real estate security subject to real estate loan so long as the borrowing member remains obligated upon the real estate loan. 32 Del. Laws, c. 107, §  3;  33 Del. Laws, c. 112, §  1;  Code 1935, §  2338;  43 Del. Laws, c. 136, §  1;  5 Del. C. 1953, §  1901;  70 Del. Laws, c. 186, §  1;
5 DE Code § 1902. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 19. Powers and Conduct of Business|§ 1902. Special powers of domestic association.

§ 1902. Special powers of domestic association. Building and loan associations organized under Title 8 may, in addition to the other powers granted in such title and this chapter, make loans to and among their stockholders and also to and among nonstockholders. Building and loan associations may also make loans secured by shares of their own capital stock. Building and loan associations may charge and collect periodic interest in respect to such loans at such daily, weekly, monthly, annual or other periodic percentage rate or rates as the agreement governing, or the bond, note or other evidence of the loan provides, or as established in the manner provided in such agreement, bond, note or other evidence of the loan, and may calculate such periodic interest by way of simple interest or such the method as the agreement governing, or the bond, note or other evidence of the loan provides. If the interest is precomputed, it may be calculated on the assumption that all scheduled payments will be made when due. For purposes thereof, a year may but need not be a calendar year and may be such period of from 360 days to 366 days, including or disregarding leap year, as the association may determine. Building and loan associations may engage in revolving credit and closed end credit. Such activities shall be subject to the provisions of subchapters II and III of Chapter 9 of this title. Building and loan associations may act as trustee of trusts created or organized in the United States under the Self-Employed Individuals Tax Retirement Act of 1962, and amendments thereto, and which qualify for specific tax treatment under § 401(d) or § 408(a) of the United States Internal Revenue Code of 1986 [26 U.S.C. § 401(d) or § 408(a)], if the funds of such trust are invested in savings accounts or deposits in such association or in obligations or securities issued by such association. Individual accounts and records shall be kept by the association for each participant and shall show in proper detail all transactions therein. 21 Del. Laws, c. 273, §  68;  22 Del. Laws, c. 166, §  7;  Code 1915, §  2015;  Code 1935, §§  2158, 2359;  5 Del. C. 1953, §  1902;  56 Del. Laws, c. 328, §  3;  61 Del. Laws, c. 381, §  1;  68 Del. Laws, c. 105, §  14;
5 DE Code § 1903. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 19. Powers and Conduct of Business|§ 1903. Authorized plans of operation.

§ 1903. Authorized plans of operation. Any duly licensed or registered building and loan association doing business in this State, provided its charter permits, may issue serial shares, full paid shares, installment full paid shares, and may also make available to members savings accounts, savings certificates and any other type of share or account which any federally chartered association may issue under the rules and regulations of the Office of Thrift Supervision or any successor federal regulatory authority and under the term of its charter. 32 Del. Laws, c. 107, §  3;  33 Del. Laws, c. 112, §  1;  Code 1935, §  2338;  43 Del. Laws, c. 136, §  1;  5 Del. C. 1953, §  1903;  61 Del. Laws, c. 380, §  1;  68 Del. Laws, c. 105, §  15;
5 DE Code § 1904. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 19. Powers and Conduct of Business|§ 1904. Dividends.

§ 1904. Dividends. Every building and loan association duly licensed or registered, provided its charter shall permit, may provide either in its bylaws or by a resolution or resolutions of its board of directors a schedule of varying rates of dividends for different classes of shares of stock, and different types of shares within any class, including any type of share or account available to federally chartered associations operating in this State. 32 Del. Laws, c. 107, §  3;  33 Del. Laws, c. 112, §  1;  Code 1935, §  2338;  43 Del. Laws, c. 136, §  1;  5 Del. C. 1953, §  1904;  50 Del. Laws, c. 218, §  2;  61 Del. Laws, c. 380, §  2;  68 Del. Laws, c. 105, §  16;
5 DE Code § 1905. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 19. Powers and Conduct of Business|§ 1905. Branch offices.

§ 1905. Branch offices. The establishment of a branch office by a building and loan association shall be governed by § 2011 of this title. Branching of building and loan associations shall be limited to the extent permitted to banks chartered pursuant to Chapter 7 of this title. 68 Del. Laws, c. 105, §  17;
5 DE Code § 1906. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 19. Powers and Conduct of Business|§ 1906. Premiums, fines and fees.

§ 1906. Premiums, fines and fees. (a) The power to collect premiums, fines and membership fees within the limits of this chapter, or as permitted by any other law of this State, is granted to building and loan associations. Fines shall not be imposed against and collected from any serial shareholder for more than 6 consecutive months at a greater rate than 5 cents per month for each dollar past due, and after the expiration of 6 months, at a greater rate than one half of 1 percent per month for each dollar past due. Any serial shareholder who is 6 months in arrears in the payment of his or her monthly dues may be required to withdraw any balance due the shareholder from the association. If any serial shareholder, who is delinquent 6 months or more in payment of monthly dues, refuses to accept settlement from the association, or if the association is unable to locate the shareholder, then the association may (1) deposit the amount due the shareholder to his or her credit in an account in any state or national bank as defined in § 101 of this title, or (2) invest in a full paid share account or an installment full paid share account or a similar account of the association in the name of the shareholder. (b) A building and loan association may lend funds of the association either with or without charging the borrower a premium for the privilege of being granted such loan, but an association shall not charge any premium unless the borrower agrees in writing to pay such premium. Any premium charged shall not exceed 3 percent of the original amount of the loan and may be deducted by the association in advance, or paid separately by the borrower at settlement, or if the association consents, may be paid in 3 equal annual installments with the first installment payable at settlement and the other 2 installments on the first and second anniversaries of the date of settlement. A premium paid, pursuant to this section, by a borrower from an association, shall not be deemed usurious, although when it is added to any interests paid upon such loan, it exceeds the legal or the contract rate of interest. 32 Del. Laws, c. 107, §§  4, 5;  Code 1935, §§  2339, 2340;  43 Del. Laws, c. 137, §  1;  5 Del. C. 1953, §  1906;  55 Del. Laws, c. 184;  56 Del. Laws, c. 328, §  4;  63 Del. Laws, c. 142, §  6;
5 DE Code § 1907. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 19. Powers and Conduct of Business|§ 1907. Withdrawal value of shares.

§ 1907. Withdrawal value of shares. The withdrawal value paid in any 1 fiscal year to any shareholder of a building and loan association, after having paid all dues, interest, premiums, fines and membership fees due by him for a period of 1 year or more, shall be computed upon a uniform basis in respect to all such withdrawals in the fiscal year. 32 Del. Laws, c. 107, §  6;  Code 1935, §  2341;  5 Del. C. 1953, §  1907;
5 DE Code § 1908. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 19. Powers and Conduct of Business|§ 1908. Investment of association's funds in corporate stock.

§ 1908. Investment of association's funds in corporate stock. The funds of a building and loan association, existing under this Code or any other law of this State, shall not be invested in any corporation stocks. Nothing herein contained shall prevent a building and loan association from purchasing and acquiring stock in the Federal Home Loan Bank under the provisions of the Act of Congress known as the Federal Home Loan Bank Act [12 U.S.C. § 1421 et seq.], or prevent a building and loan association from acquiring any corporation stock to secure itself against loss of money owing to it by any borrower. The stock so acquired under the last preceding clause shall be sold within 60 days after the State Bank Commissioner shall direct. 32 Del. Laws, c. 107, §  7;  39 Del. Laws, c. 19, §  1;  Code 1935, §  2342;  5 Del. C. 1953, §  1908;
5 DE Code § 1909. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 19. Powers and Conduct of Business|§ 1909. Membership in Federal Home Loan Bank.

§ 1909. Membership in Federal Home Loan Bank. Any building and loan association incorporated under this Code or any other law of this State may become a member of the Federal Home Loan Bank, organized or to be organized in the district in which such building and loan association is located, under the Act of Congress known as the Federal Home Loan Bank Act [12 U.S.C. § 1421 et seq.], and the building and loan association may subscribe for, purchase, hold and surrender, from time to time, such amounts of the capital stock of the Federal Home Loan Bank as the building and loan association deems advisable, or as may be required under the Federal Home Loan Bank Act, or any amendment thereof, in order to obtain and continue such membership, and upon the purchase of the stock to assume the liabilities and become entitled to the benefits recited in the Federal Home Loan Bank Act. 32 Del. Laws, c. 107, §  7;  39 Del. Laws, c. 19, §  1;  Code 1935, §  2342;  5 Del. C. 1953, §  1909;
5 DE Code § 1910. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 19. Powers and Conduct of Business|§ 1910. Borrowing from Federal Home Loan Bank.

§ 1910. Borrowing from Federal Home Loan Bank. Any building and loan association doing business in this State may borrow from any Federal Home Loan Bank to any amount within the regulations of the Federal Home Loan Bank and may secure advances from the Federal Home Loan Bank by the assignment or pledge of any mortgage, mortgages, or other assets, held by the building and loan association, and the building and loan association is authorized in securing advances to comply with such regulations, restrictions and limitations as the board of the Federal Home Loan Bank prescribes. 32 Del. Laws, c. 107, §  7;  39 Del. Laws, c. 19, §  1;  Code 1935, §  2342;  5 Del. C. 1953, §  1910;
5 DE Code § 1911. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 19. Powers and Conduct of Business|§ 1911. Power to borrow generally.

§ 1911. Power to borrow generally. Any building and loan association doing business in this State may borrow money from sources other than a Federal Home Loan Bank, and may secure the same by the assignment or pledge of any mortgage, mortgages, or other assets held by the building and loan association, but the amount borrowed from all such other sources shall not at any time exceed in the aggregate 30 percent of the shareholders' invested capital in said association. The amount borrowed from all sources shall at all times, irrespective of whether or not the same are secured, constitute a preferred claim superior to all claims on account of the shares of the building and loan association. 32 Del. Laws, c. 107, §  7;  39 Del. Laws, c. 19, §  1;  Code 1935, §  2342;  45 Del. Laws, c. 165, §  1;  5 Del. C. 1953, §  1911;  56 Del. Laws, c. 328, §  5;
5 DE Code § 1912. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 19. Powers and Conduct of Business|§ 1912. Limitation on loans not secured by first mortgage on real estate.

§ 1912. Limitation on loans not secured by first mortgage on real estate. Not more than 50 percent of the shareholders' invested capital in any building and loan association doing business in this State shall be loaned on real estate security on other than first liens. 32 Del. Laws, c. 107, §  7;  39 Del. Laws, c. 19, §  1;  Code 1935, §  2342;  5 Del. C. 1953, §  1912;  56 Del. Laws, c. 328, §  6;
5 DE Code § 1913. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 19. Powers and Conduct of Business|§ 1913. Matured stock.

§ 1913. Matured stock. When, from the distribution of the profits of any building and loan association, the profits accruing to any series of stock show that the series has matured according to the provisions of the bylaws of the association, the association shall not make any further investment of its funds until all of the matured series of stock has been paid the owners thereof. The building and loan association shall allow the owners of matured stock interest at the rate of not less than 5 percent per annum upon the matured value of the series of stock during the time after the first month that the same remains unpaid. In no case shall the retirement of the stock be deferred longer than for a period of 12 months after the stock has matured. 32 Del. Laws, c. 107, §  8;  Code 1935, §  2343;  5 Del. C. 1953, §  1913;
5 DE Code § 1914. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 19. Powers and Conduct of Business|§ 1914. Contingent fund.

§ 1914. Contingent fund. A building and loan association may set aside in its treasury, out of its earnings, a contingent fund which shall be used only for the purpose of paying losses and necessary expenses incurred in the maturing of any of its series of stock, and for the purpose of establishing and making equal, as nearly as may be, the time of maturing of all of the series. The funds so set aside may be invested as other funds of the association. 32 Del. Laws, c. 107, §  19;  37 Del. Laws, c. 133, §  4;  Code 1935, §  2354;  5 Del. C. 1953, §  1914;
5 DE Code § 1915. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 19. Powers and Conduct of Business|§ 1915. Undivided profits.

§ 1915. Undivided profits. Any building and loan association may, at the discretion of its board of directors set aside any surplus net income or other available earnings which remain after reserve and dividend requirements have been met and retain such funds in an undivided profits account, provided that the total undivided profits on hand at any one time shall not exceed 10 percent of the association's paid in capital plus earnings. 5 Del. C. 1953, §  1915;  50 Del. Laws, c. 218, §  4;
5 DE Code § 1916. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 19. Powers and Conduct of Business|§ 1916. Fiscal agent.

§ 1916. Fiscal agent. If and when an association is a member of a Federal Home Loan Bank, it shall have power to act as fiscal agent of the United States, and, when so designated by the Secretary of the Treasury, it shall perform, under such regulations as he may prescribe, all such reasonable duties as fiscal agent of the United States as he may require, and when authorized shall have power to act as fiscal agent for any instrumentality of the United States or of any instrumentality of this State. 5 Del. C. 1953, §  1916;  50 Del. Laws, c. 218, §  4;
5 DE Code § 1917. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 19. Powers and Conduct of Business|§ 1917. Investment by minors.

§ 1917. Investment by minors. (a) Any building and loan association in this State may receive funds for investment in the shares of the association from or in the name of a minor. When an investment shall be made in the shares of a building and loan association by a minor or in the name of a minor, the funds shall be held for the benefit of the investor in the same way and to the same extent as if the investor were an adult person. A minor may make drafts upon or withdrawals of his or her investment to the same extent as if he or she were an adult person and the funds shall be paid, together with dividends or interest thereon, to the person in whose name the investment shall have been made, or upon his or her written order. The receipt or acquittance of a minor shall be a valid and sufficient release and discharge to the association for the return of any investment, dividends or interest, or any part thereof. (b) Any building and loan association shall have the right to refuse to receive funds offered for investment by or in the name of a minor. (c) A minor investing funds in the shares of a building and loan association shall be subject, in all transactions connected therewith, as between himself or herself and the association, to all obligations, equities and defenses to which an adult person would be subject in similar transactions. 5 Del. C. 1953, §  1917;  50 Del. Laws, c. 218, §  4;  70 Del. Laws, c. 186, §  1;
5 DE Code § 1918. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 19. Powers and Conduct of Business|§ 1918. Investments standing in the name of decedents.

§ 1918. Investments standing in the name of decedents. Building and loan associations may pay out the investment of decedents, together with any dividends or interest thereon, without requiring letters of administration to be issued upon the estates of such decedents, when and as provided by §§ 2306 and 2307 of Title 12. 5 Del. C. 1953, §  1918;  50 Del. Laws, c. 218, §  4;
5 DE Code § 1919. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 19. Powers and Conduct of Business|§ 1919. Investments standing in the names of 2 or more persons.

§ 1919. Investments standing in the names of 2 or more persons. When an investment in the shares of any building and loan association is made in the name of 2 or more persons, deliverable or payable to either, or to the survivor or survivors, the investment, or any part thereof, or the increase thereof, may be delivered or paid to either of the persons, or to the survivor or survivors, in due course of business. 5 Del. C. 1953, §  1919;  50 Del. Laws, c. 218, §  4;