reglab/housing_qa huggingface dataset:
5 DE Code § 821. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 8. Acquisition of Interests in Banking Institutions; Bank Holding Companies|Subchapter II. Acquisition of Stock and Assets Of, and Interests In, Banks to Which the State Has Provided Financial Assistance and Obtained an Ownership Interest|§ 821. Definitions.

§ 821. Definitions. As used in this subchapter:  (1) “State assisted bank” means a bank which the State has, in order to relieve financial distress determined to exist by the State Bank Commissioner, assisted by means of a grant, loan, asset purchase or deposit made pursuant to a plan or agreement if:  a. The State owns an equity interest in the bank which the State obtained pursuant to the plan or agreement; and b. Such equity interest together with any equity interest previously obtained and still held by the State aggregates not less than 25% of the voting rights of all holders of stock or other voting rights. (2) “Bank” means a bank or trust company existing under the laws of the State, or a national banking association existing under the National Bank Act, as amended (12 U.S.C. § 21 et seq.), whose main office is in this State. (3) “Out-of-state bank holding company” means an out-of-state bank holding company as defined in § 801(2) of this title. (4) “Subsidiary” means a subsidiary as defined in § 801(6) of this title.63 Del. Laws, c. 186, §  6;
5 DE Code § 822. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 8. Acquisition of Interests in Banking Institutions; Bank Holding Companies|Subchapter II. Acquisition of Stock and Assets Of, and Interests In, Banks to Which the State Has Provided Financial Assistance and Obtained an Ownership Interest|§ 822. Purpose; findings.

§ 822. Purpose; findings. The purpose of this subchapter is to permit the acquisition by an out-of-state bank holding company, or a subsidiary thereof, of any voting shares of, interest in, or all or substantially all of the assets of, a state assisted bank, notwithstanding any other provision of state law. The General Assembly of the State hereby finds that it is in the interest of the State that the State have the ability to divest its interest in a state assisted bank to an out-of-state bank holding company, and that such ability does not exist unless legislation of the State, as presently required under § 3(d) of the federal Bank Holding Company Act of 1956, as amended (12 U.S.C. § 1842(d)), permits out-of-state bank holding companies or their subsidiaries to acquire a state assisted bank. 63 Del. Laws, c. 186, §  6;
5 DE Code § 823. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 8. Acquisition of Interests in Banking Institutions; Bank Holding Companies|Subchapter II. Acquisition of Stock and Assets Of, and Interests In, Banks to Which the State Has Provided Financial Assistance and Obtained an Ownership Interest|§ 823. Authorized acquisitions.

§ 823. Authorized acquisitions. Pursuant to the present requirement of 12 U.S.C. § 1842(d) and notwithstanding any other provision of state law, any out-of-state bank holding company, or any subsidiary thereof, may acquire pursuant to this subchapter, and it and any successor thereto by merger, consolidation or other corporate reorganization may retain and hold, voting shares of, interest in, or all or substantially all of the assets of a state assisted bank and any successor thereto. Such acquisition, retention and holding of voting shares of, interest in, or all or substantially all of the assets of a state assisted bank shall not be construed to limit in any manner the franchise powers or privileges of such bank to conduct its business; provided, however, that this section does not authorize: (1) The establishment in this State of branch offices of a banking subsidiary of an out-of-state bank holding company making an acquisition pursuant to this section if such banking subsidiary does not have its principal place of business in this State; or (2) the acquisition by a bank acquired pursuant to this section of a bank engaged in business in this State (other than one organized under subchapter I of this chapter) by merger, consolidation or purchase of all or substantially all of its assets, or more than 10% of its voting shares. The limitation in clause (1) of this section applies at any time when the combined effect of federal and state law is to prohibit such establishment in this State of branch offices by a bank controlled by an out-of-state bank holding company and the limitation in clause (2) of this section applies at any time when the combined effect of federal and state law is to prohibit the acquisition in the manner described in clause (2) above of a bank engaged in business in this State by a bank controlled by an out-of-state bank holding company. 63 Del. Laws, c. 186, §  6;
5 DE Code § 824. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 8. Acquisition of Interests in Banking Institutions; Bank Holding Companies|Subchapter II. Acquisition of Stock and Assets Of, and Interests In, Banks to Which the State Has Provided Financial Assistance and Obtained an Ownership Interest|§ 824. Application for approval of acquisition.

§ 824. Application for approval of acquisition. (a) An out-of-state bank holding company or subsidiary thereof proposing an acquisition pursuant to § 823 of this title shall file an application with the Commissioner for approval to make such acquisition either pursuant to § 751 or § 781 et seq. of this title, as the case may be, if applicable. (b) If no application under § 751 or § 781 et seq. of this title is required for such acquisition, then an application under this subsection shall be filed with the Commissioner for his or her consent to the acquisition. Such application shall contain such information as the Commissioner may require by regulation. Such application shall designate a resident of this State as applicant's agent for the service of any paper, notice or legal process upon the applicant in connection with matters arising out of this subchapter. The Commissioner may shorten or modify the normal application procedures required for any acquisition authorized by this subchapter where the circumstances involving the state assisted bank indicate that delay in approving the acquisition may be detrimental to such bank. (c) In determining whether to approve an acquisition by an out-of-state bank holding company or any subsidiary thereof pursuant to this subchapter, the Commissioner shall consider:  (1) The financial and managerial resources of the out-of-state bank holding company or its subsidiary; (2) The future prospects of the out-of-state bank holding company and the state assisted bank or its subsidiary whose assets, interest in or shares it will acquire; (3) The financial history of the out-of-state bank holding company or its subsidiary; (4) Whether such acquisition or holding may result in undue concentration of resources or substantial lessening of competition in this State; (5) The convenience and needs of the public of this State; and (6) Whether such acquisition or holding will strengthen the financial condition of the state assisted bank.63 Del. Laws, c. 186, §  6;  70 Del. Laws, c. 186, §  1;
5 DE Code § 825. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 8. Acquisition of Interests in Banking Institutions; Bank Holding Companies|Subchapter II. Acquisition of Stock and Assets Of, and Interests In, Banks to Which the State Has Provided Financial Assistance and Obtained an Ownership Interest|§ 825. Required reports.

§ 825. Required reports. An out-of-state bank holding company that directly or indirectly through any subsidiary acquires, retains and holds voting stock of a bank pursuant to this subchapter shall file with the Commissioner upon the Commissioner's request either: (1) Copies of all regular and periodic reports which such bank holding company is required to file under § 13 or § 15(d) of the Securities Exchange Act of 1934, as amended [15 U.S.C. § 78m or § 78o(d)], but excluding any portions not available to the public; or (2) In the case of a bank holding company which is not required to file such reports, such periodic reports as the Commissioner may require by regulation. 63 Del. Laws, c. 186, §  6;  70 Del. Laws, c. 112, §  27;
5 DE Code § 826. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 8. Acquisition of Interests in Banking Institutions; Bank Holding Companies|Subchapter II. Acquisition of Stock and Assets Of, and Interests In, Banks to Which the State Has Provided Financial Assistance and Obtained an Ownership Interest|§ 826. Rules, regulations and orders.

§ 826. Rules, regulations and orders. The Commissioner may adopt rules and regulations and issue orders under this subchapter for the following purposes:  (1) To prescribe information or forms required in connection with an application pursuant to § 824 of this title; (2) To establish procedures in connection with approvals pursuant to § 824 of this title and the filing of required reports pursuant to § 825 of this title.63 Del. Laws, c. 186, §  6;
5 DE Code § 832. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 8. Acquisition of Interests in Banking Institutions; Bank Holding Companies|Subchapter III. Acquisition of Delaware Savings Banks|§ 832. Acquisition authority.

§ 832. Acquisition authority. (a) An out-of-state savings institution, out-of-state savings and loan holding company or out-of-state bank holding company, or any subsidiary of the foregoing, may acquire or retain ownership or control of a Delaware savings bank or a Delaware savings and loan holding company; provided, that the out-of-state savings institution, out-of-state savings and loan holding company or out-of-state bank holding company, or any subsidiary of the foregoing, makes application under and at all times complies with all regulations, decrees, cooperative agreements and orders duly promulgated by the Commissioner with respect to both the implementation of this subchapter generally, and the operations of such out-of-state savings institution, out-of-state savings and loan holding company or out-of-state bank holding company and the Delaware savings bank that it acquires specifically. (b) The Commissioner may approve an acquisition, in accordance with subsection (a) of this section, even though the out-of-state savings institution, out-of-state savings and loan holding company or out-of-state bank holding company, or any subsidiary of the foregoing, that acquires a Delaware savings bank or a Delaware savings and loan holding company, would control, together with any affiliated insured depository institution (as defined in the Federal Deposit Insurance Act at 12 U.S.C. § 1813(c)), 30 percent or more of the total amount of deposits of insured depository institutions in this State. In determining whether to approve an acquisition pursuant to this subsection, the Commissioner shall consider the convenience and needs of the public of this State. (c) Except as otherwise provided in this title or by applicable law of the United States, no out-of-state savings institution, out-of-state savings and loan holding company or out-of-state bank holding company, or any subsidiary of the foregoing, may acquire or retain ownership or control of a Delaware savings bank or a Delaware savings and loan holding company. 66 Del. Laws, c. 33, §  3;  70 Del. Laws, c. 327, §  21;  71 Del. Laws, c. 25, §§  22-24;
5 DE Code § 835. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 8. Acquisition of Interests in Banking Institutions; Bank Holding Companies|Subchapter III. Acquisition of Delaware Savings Banks|§ 835. Divestiture.

§ 835. Divestiture. Upon the Commissioner's determination that an out-of-state savings institution, out-of-state savings and loan holding company or out-of-state bank holding company is in violation of the requirements of this subchapter, or any order, regulation, ruling, cooperative agreement or decree issued or entered into by the Commissioner, or any order of any court of competent jurisdiction, or otherwise operating a Delaware savings bank in an unsafe and unsound manner, then the Commissioner shall have the authority to order such out-of-state savings institution, out-of-state savings and loan holding company or out-of-state bank holding company, or any subsidiary of the foregoing, to remedy such violation by a date certain, or to cease and desist from operating in an unsafe and unsound manner, in default of which the Commissioner shall have the authority to order such out-of-state savings institution, out-of-state savings and loan holding company or out-of-state bank holding company, or any subsidiary of the foregoing, to divest itself of any shares or assets of any Delaware savings bank which it has acquired under this subchapter. The procedure governing such divestiture, and the authority of the Commissioner to enforce an order directing the same against an out-of-state savings institution, out-of-state savings and loan holding company or out-of-state bank holding company shall be the same as provided in relation to an out-of-state bank holding company in § 807(b) through (d) of this title. 66 Del. Laws, c. 33, §  3;  70 Del. Laws, c. 186, §  1;  70 Del. Laws, c. 327, §  23;  71 Del. Laws, c. 25, §  30;
5 DE Code § 836. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 8. Acquisition of Interests in Banking Institutions; Bank Holding Companies|Subchapter III. Acquisition of Delaware Savings Banks|§ 836. Powers of an acquired, savings bank.

§ 836. Powers of an acquired, savings bank. Nothing contained in this chapter shall be construed as abridging the rights, powers and authorities granted to any Delaware savings bank required under its charter, the provisions of this title, or any other current, former or future law of the State or the United States governing the formation, conversion, merger, corporate powers, branching, operation or dissolution of a Delaware savings bank. 66 Del. Laws, c. 33, §  3;  70 Del. Laws, c. 327, §  24;  71 Del. Laws, c. 25, §  31;
5 DE Code § 837. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 8. Acquisition of Interests in Banking Institutions; Bank Holding Companies|Subchapter III. Acquisition of Delaware Savings Banks|§ 837. Scope; construction.

§ 837. Scope; construction. This subchapter deals with the conditions under which out-of-state savings institutions, out-of-state savings and loan holding companies and out-of-state bank holding companies may acquire a Delaware savings bank or a Delaware savings and loan holding company; it shall not be construed to have any applicability to Part III of this title relating to building and loan associations nor to constitute any authority for the acquisition of Delaware building and loan associations. 66 Del. Laws, c. 33, §  3;
5 DE Code § 841. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 8. Acquisition of Interests in Banking Institutions; Bank Holding Companies|Subchapter IV. Acquisition of Stock in Delaware Banks and Bank Holding Companies|§ 841. Title.

§ 841. Title. This subchapter may be cited as “The Delaware Interstate Banking Act.” 66 Del. Laws, c. 32, §  1;  70 Del. Laws, c. 112, §  28;
5 DE Code § 843. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 8. Acquisition of Interests in Banking Institutions; Bank Holding Companies|Subchapter IV. Acquisition of Stock in Delaware Banks and Bank Holding Companies|§ 843. Acquisition authority.

§ 843. Acquisition authority. (a) An out-of-state bank holding company or subsidiary thereof may acquire or retain ownership or control of a bank or bank holding company located in Delaware; provided, that the out-of-state bank holding company makes application under and at all times complies with all regulations, decrees, cooperative agreements and orders duly promulgated by the Commissioner with respect to both the implementation of this subchapter generally, and the operations of such bank holding company and the bank which it acquires specifically; and further provided that, except as otherwise provided in this title, no out-of-state bank holding company or any subsidiary thereof may acquire or retain ownership or control of either a bank located in Delaware created before September 29, 1995, that is not an existing bank or a bank holding company that owns or controls such bank. (b) The Commissioner may approve an acquisition, in accordance with subsection (a) of this section, even though the out-of-state bank holding company, or any subsidiary thereof, that acquires a bank or bank holding company located in Delaware, would control, together with any affiliated insured depository institution (as defined in the Federal Deposit Insurance Act at 12 U.S.C. § 1813(c)), 30 percent or more of the total amount of deposits of insured depository institutions in this State. In determining whether to approve an acquisition pursuant to this subsection (b), the Commissioner shall consider the convenience and needs of the public of this State. (c) Except as otherwise provided in this title or by applicable law of the United States, no out-of-state bank holding company or subsidiary thereof may acquire or retain ownership or control of a bank or bank holding company located in Delaware. 66 Del. Laws, c. 32, §  1;  70 Del. Laws, c. 112, §§  32-34;
5 DE Code § 844. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 8. Acquisition of Interests in Banking Institutions; Bank Holding Companies|Subchapter IV. Acquisition of Stock in Delaware Banks and Bank Holding Companies|§ 844. Application process.

§ 844. Application process. (a) An out-of-state bank holding company shall make application to acquire a bank or bank holding company located in this State which owns or controls a bank upon such forms and in accordance with such regulations and rulings as are promulgated from time to time by the Commissioner. Such application shall designate a resident of this State as applicant's agent for the service of any paper, notice or legal process upon applicant in connection with matters arising out of this subchapter and shall be accompanied by a nonrefundable filing fee in the amount of $5,750 for the use of the State and a nonrefundable processing fee in such amount as the Commissioner shall from time to time fix by regulation, payable to and for the use of the Office of the Bank Commissioner. (b) Following publication, notice and hearing in the manner prescribed by the Commissioner, the Commissioner shall approve or disapprove an application by an out-of-state bank holding company to own or control a bank or a bank holding company located in this State upon a determination of whether such an acquisition will serve the public convenience and advantage. As part of such determination, but not by way of limitation, the Commissioner shall consider the following criteria:  (1) Whether the acquisition will, based upon the managerial and financial resources, financial history and business plan of the applicant, adversely affect the safe and sound operation of the bank or any other bank located in this State which is owned or controlled by the bank holding company; (2) Whether the acquisition will adversely affect the quantity or quality of banking services available to 1 or more communities served by the bank prior to the acquisition; (3) Whether, as a result of a prior or simultaneous acquisition of another bank, the acquisition of the bank will result in an undue concentration of resources or a substantial lessening of competition in this State; and (4) Whether the acquisition will foster economic development and the financing of business enterprises to the end that employment opportunities will either be increased or, where there is a prospect for a reduction, retained. (c) In conjunction with the approval of any application filed under this section, the Commissioner may require as a condition of such approval that the out-of-state bank holding company enter into a cooperative agreement binding it to such special terms and conditions regarding its operations and its maintenance and preservation of the capital and assets in Delaware of the bank as the Commissioner shall deem to be necessary to assure that the acquisition serves the public convenience and advantage. 66 Del. Laws, c. 32, §  1;  68 Del. Laws, c. 303, §  18;  70 Del. Laws, c. 112, §§  35-37;
5 DE Code § 845. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 8. Acquisition of Interests in Banking Institutions; Bank Holding Companies|Subchapter IV. Acquisition of Stock in Delaware Banks and Bank Holding Companies|§ 845. Duties and powers of Commissioner.

§ 845. Duties and powers of Commissioner. In order to effectuate the provisions of this subchapter, the Commissioner shall, in addition to exercising the authority provided in §§ 844 and 846 of this title:  (1) Adopt and issue such regulations, decrees, orders, rulings and forms, and enter into such cooperative agreements with out-of-state bank holding companies, as the Commissioner deems to be necessary and proper; (2) Require by negotiation, administrative order or cooperative agreement the maintenance and production of such documents and reports, the periodic conduct of such examinations, and otherwise supervise and govern the activities of the out-of-state bank holding companies as the Commissioner deems necessary and proper; (3) Have the authority to examine any out-of-state bank holding company owning a bank. The Commissioner may require reports of each out-of-state bank holding company subject to this subchapter. Such report shall be filed under oath with such frequency and in such scope and detail as may be appropriate for the purpose of assuring continuing compliance with this subchapter and the safety and soundness of the bank; (4) Prior to approving the acquisition of the bank or bank holding company located in Delaware by an out-of-state bank holding company, the Commissioner may enter into cooperative agreements with the appropriate regulatory authorities for the periodic examination of any out-of-state bank holding company that has a bank subsidiary or bank holding company located in Delaware or any subsidiary of such holding company, and may accept reports of examination and other records from such authorities in lieu of conducting the Commissioner's own examination. The Commissioner may enter into joint actions with other regulatory authorities having concurrent jurisdiction over any out-of-state bank holding company that owns or controls a bank or bank holding company subsidiary or may take such actions independently to carry out the responsibilities under this subchapter to assure the safety and soundness of any bank and to assure compliance with this subchapter and applicable Delaware banking laws.66 Del. Laws, c. 32, §  1;  70 Del. Laws, c. 112, §  38;  70 Del. Laws, c. 186, §  1;
5 DE Code § 846. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 8. Acquisition of Interests in Banking Institutions; Bank Holding Companies|Subchapter IV. Acquisition of Stock in Delaware Banks and Bank Holding Companies|§ 846. Divestiture.

§ 846. Divestiture. Upon the Commissioner's determination that an out-of-state bank holding company is in violation of the requirements of this subchapter or any order, regulation, ruling, cooperative agreement or decree issued or entered into by the Commissioner or any order of a court of competent jurisdiction, or is otherwise operating a bank in an unsafe and unsound manner, the Commissioner shall have the authority to order such out-of-state bank holding company or subsidiary thereof to remedy such violation by a date certain, or to cease and desist from operating in an unsafe and unsound manner, in default of which the Commissioner shall have the authority to order such out-of-state bank holding company or subsidiary thereof to divest itself of any shares or assets of any bank located in this State. The procedure governing such divestiture, and the authority of the Commissioner to enforce an order directing the same, shall be the same as provided in § 807(b)—(d) of this title. 66 Del. Laws, c. 32, §  1;  70 Del. Laws, c. 112, §  39;