reglab/housing_qa huggingface dataset:
5 DE Code § 942. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 9. Regulations Governing Business of Banks and Trust Companies|Subchapter II. Bank Revolving Credit|§ 942. Extension of credit.

§ 942. Extension of credit. Any bank may, subject to any limitations on lending authorities contained in its charter or otherwise imposed by law and subject to the other provisions of this subchapter, offer and extend credit under a revolving credit plan to a borrower and in connection therewith may charge and collect periodic interest, interest charges and other charges permitted by this subchapter and may take such security as collateral in connection therewith as may be acceptable to the bank. Without limitation of the foregoing, credit may be extended under a revolving credit plan by a bank's acquisition of obligations arising out of the honoring by a merchant, a bank or other financial institution (whether chartered or organized under the laws of this or any other state, the District of Columbia, the United States or any district, territory or possession of the United States, or any foreign country), or a government or governmental subdivision or agency of a credit device made available to a borrower under a plan, whether directly or indirectly by means of telephone, point of sale terminal, automated teller machine or other electronic or similar device or through the mails. 63 Del. Laws, c. 2, §  4;  66 Del. Laws, c. 283, §  3;
5 DE Code § 943. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 9. Regulations Governing Business of Banks and Trust Companies|Subchapter II. Bank Revolving Credit|§ 943. Periodic interest.

§ 943. Periodic interest. A bank may charge and collect periodic interest under a revolving credit plan on outstanding unpaid indebtedness in the borrower's account under the plan at such daily, weekly, monthly, annual or other periodic percentage rate or rates as the agreement governing the plan provides or as established in the manner provided in the agreement governing the plan. Periodic interest may be calculated using an average daily balance, 2-cycle average daily balance, adjusted balance or previous balance method or using any other balance computation method provided for in the agreement governing the plan. Periodic billing cycles may be established in such manner and shall have such duration as may be specified in the agreement governing the plan. 63 Del. Laws, c. 2, §  4;  66 Del. Laws, c. 283, §§  4, 5;  71 Del. Laws, c. 19, §  45;
5 DE Code § 944. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 9. Regulations Governing Business of Banks and Trust Companies|Subchapter II. Bank Revolving Credit|§ 944. Variable rates.

§ 944. Variable rates. If the agreement governing the revolving credit plan so provides, the periodic percentage rate or rates of interest under such plan may vary in accordance with a schedule or formula. Such periodic percentage rate or rates may vary from time to time as the rate determined in accordance with such schedule or formula varies and such periodic percentage rate or rates, as so varied, may be made applicable to all or any part of outstanding unpaid indebtedness under the plan on or after the first day of the billing cycle that contains the effective date of such variation including any such indebtedness arising out of purchases made or loans obtained prior to such variation in the periodic percentage rate or rates. Without limitation, a permissible schedule or formula hereunder may include provision in the agreement governing the plan for a change in the periodic percentage rate or rates of interest applicable to all or any part of outstanding unpaid indebtedness, whether by variation of the then applicable periodic percentage rate or rates of interest, variation of an index or margin or otherwise, contingent upon the happening of any event or circumstance specified in the plan, which event or circumstance may include the failure of the borrower to perform in accordance with the terms of the plan. Nothing herein precludes a bank from charging or reserving a right to charge, by discretion or otherwise, a rate lower than any maximum rate provided for in any schedule or formula. 63 Del. Laws, c. 2, §  4;  68 Del. Laws, c. 303, §  21;  71 Del. Laws, c. 19, §  46;  77 Del. Laws, c. 279, §  1;
5 DE Code § 946. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 9. Regulations Governing Business of Banks and Trust Companies|Subchapter II. Bank Revolving Credit|§ 946. Terms for indebtedness.

§ 946. Terms for indebtedness. A bank may, if the agreement governing a revolving credit plan so provides, impose different terms (including, without limitation, the terms governing the periodic percentage rate or rates used to calculate interest, the method of computing the outstanding unpaid indebtedness to which such rate or rates are applied, the amounts of other charges and the applicable installment repayment schedule) in respect to indebtedness arising out of purchases and indebtedness arising out of loans made under the plan. 63 Del. Laws, c. 2, §  4;
5 DE Code § 947. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 9. Regulations Governing Business of Banks and Trust Companies|Subchapter II. Bank Revolving Credit|§ 947. Overdraft accounts.

§ 947. Overdraft accounts. If credit under a revolving credit plan is offered and extended in connection with a demand deposit account or other transaction account maintained by the borrower with the bank pursuant to an agreement or arrangement whereby the bank agrees to honor checks, drafts or other debits to such account, which if paid would create or increase a negative balance in such account, by making extensions of credit to such borrower under such revolving credit plan, any charges customarily imposed by the bank under the terms governing such demand deposit or other transaction account in the absence of any associated revolving credit plan (including, without limitation, check charges, monthly maintenance charges, checkbook charges, charges for checks drawn on funds in excess of an available line of credit and other similar charges) may continue to be imposed on such account without specific reference thereto or incorporation thereof by reference in the agreement governing the revolving credit plan and the amount of any such charge, to the extent the balance in such demand deposit or other transaction account is insufficient to pay such a charge, may be charged to the borrower's account under the plan as a loan thereunder and may be included in outstanding unpaid indebtedness in accordance with the terms of the agreement governing such revolving credit plan. 63 Del. Laws, c. 2, §  4;
5 DE Code § 948. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 9. Regulations Governing Business of Banks and Trust Companies|Subchapter II. Bank Revolving Credit|§ 948. Omitted installments.

§ 948. Omitted installments. A bank may at any time and from time to time unilaterally extend to a borrower under a revolving credit plan the option of omitting monthly installments. 63 Del. Laws, c. 2, §  4;
5 DE Code § 949. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 9. Regulations Governing Business of Banks and Trust Companies|Subchapter II. Bank Revolving Credit|§ 949. Insurance.

§ 949. Insurance. (a) A bank may request but not require an individual borrower to be insured in respect of a revolving credit plan under a life, health, accident, health and accident or other credit or other permissible insurance policy, whether group or individual, and in the event that an individual borrower's outstanding unpaid indebtedness under the plan is secured by an interest in real or personal property, a bank may require the borrower to obtain insurance, from an insurer acceptable to the bank, against loss of or damage to such property, or against the liability arising out of the ownership or use of the property and may finance the premiums for such insurance. (b) In the case of a borrower borrowing under a revolving credit plan for other than personal, household or family purposes, a bank may require the borrower to obtain insurance, from an insurer acceptable to the bank, under a life, health, accident, health and accident or other credit or other permissible insurance policy, whether group or individual, and in the event that the borrower's outstanding unpaid indebtedness under the plan is secured by an interest in real or personal property, the bank may require the borrower to obtain insurance, from an insurer acceptable to the bank, against loss of or damage to such property, or against the liability arising out of the ownership or use of the property and may finance the premiums for such insurance. (c) The offer and placement of insurance under this section shall be subject in all respects to the applicable provisions of Title 18. 63 Del. Laws, c. 2, §  4;
5 DE Code § 950. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 9. Regulations Governing Business of Banks and Trust Companies|Subchapter II. Bank Revolving Credit|§ 950. Delinquent installments.

§ 950. Delinquent installments. (a) If the agreement governing a revolving credit plan so provides, a bank may impose, as interest, a late or delinquency charge upon any outstanding unpaid installment payments or portions thereof under the plan which are in default; provided however, that no more than 1 such late or delinquency charge may be imposed in respect of any single such installment payment or portion thereof, regardless of the period during which it remains in default; and provided further, however, that for the purpose only of the preceding proviso all payments by the borrower shall be deemed to be applied to satisfaction of installment payments in the order in which they become due. Nothing contained in this section shall limit, restrict or otherwise affect the right of a bank under and pursuant to §§ 943 and 944 of this title to change the periodic percentage rate or rates of interest applicable to the revolving credit plan between the bank and a borrower upon the occurrence of a delinquency or default or other failure of the borrower to perform in accordance with the terms of the plan. (b) No charges assessed by a bank in accordance with this section shall be deemed void as a penalty or otherwise unenforceable under any statute or the common law. 63 Del. Laws, c. 2, §  4;  66 Del. Laws, c. 283, §  9;  68 Del. Laws, c. 303, §  22;  70 Del. Laws, c. 327, §  27;  71 Del. Laws, c. 19, §  49;
5 DE Code § 951. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 9. Regulations Governing Business of Banks and Trust Companies|Subchapter II. Bank Revolving Credit|§ 951. Attorney's fees; costs.

§ 951. Attorney's fees; costs. In the event a borrower defaults under the terms of a plan, the bank may, if the borrower's account is referred to an attorney (not a regularly salaried employee of the bank) or to a third party for collection and if the agreement governing the revolving credit plan so provides, charge and collect from the borrower a reasonable attorney's fee. In addition, following a borrower's default, the bank may, if the agreement governing the plan so provides, recover from the borrower all court, alternative dispute resolution or other collection costs (including, without limitation, fees and charges of collection agencies) actually incurred by the bank. 63 Del. Laws, c. 2, §  4;  66 Del. Laws, c. 283, §  10;  72 Del. Laws, c. 15, §  11;
5 DE Code § 953. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 9. Regulations Governing Business of Banks and Trust Companies|Subchapter II. Bank Revolving Credit|§ 953. Application of other state laws.

§ 953. Application of other state laws. Any other law of this State limiting the rate or amount of interest, discount, points, finance charges, service charges or other charges which may be charged, taken, collected, received or reserved shall not apply to extensions of credit under a revolving credit plan operated in accordance with this subchapter. 63 Del. Laws, c. 2, §  4;
5 DE Code § 954. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 9. Regulations Governing Business of Banks and Trust Companies|Subchapter II. Bank Revolving Credit|§ 954. Nonexclusivity; captions.

§ 954. Nonexclusivity; captions. (a) The provisions of this subchapter are not exclusive and a bank may at its option elect to extend credit either pursuant to this subchapter or as otherwise permitted by applicable law. (b) Section headings and captions contained in this subchapter are inserted only as a matter of convenience and for reference and do not, and shall not be construed to, define, limit, extend or describe the scope of this subchapter or the meaning or intent of any section hereof. 63 Del. Laws, c. 2, §  4;
5 DE Code § 955. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 9. Regulations Governing Business of Banks and Trust Companies|Subchapter II. Bank Revolving Credit|§ 955. Materiality of terms.

§ 955. Materiality of terms. All terms, conditions and other provisions of and relating to a plan as contained in this subchapter or in the agreement governing the plan (other than those which are interest under this subchapter), including, without limitation, provisions relating to the method of determining the outstanding unpaid indebtedness on which interest is applied, time periods within which interest charges may be avoided, reasons for default and the right to cure any default, rights to accelerate, account cancellation, choice of law, change in terms requirements, rights to charge and collect attorney's fees, court and collection costs and the compounding of periodic interest or interest charges, shall be and hereby are deemed to be material to the determination of interest applicable to a plan under Delaware law, under the most favored lender doctrine, and under § 85 of the National Bank Act (12 U.S.C. § 85) or § 521 of the Depository Institutions Deregulation and Monetary Control Act of 1980 (12 U.S.C. § 1831d). 66 Del. Laws, c. 283, §  21;
5 DE Code § 956. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 9. Regulations Governing Business of Banks and Trust Companies|Subchapter II. Bank Revolving Credit|§ 956. Governing law.

§ 956. Governing law. A revolving credit plan between a bank and an individual borrower shall be governed by the laws of this State. 66 Del. Laws, c. 283, §  22;
5 DE Code § 961. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 9. Regulations Governing Business of Banks and Trust Companies|Subchapter III. Bank Closed End Credit|§ 961. Definitions.

§ 961. Definitions. As used in this subchapter:  (1) “Bank,” “borrower” and “individual borrower” have the meanings given in subchapter II of this chapter. (2) “Business day” means, with respect to recission under § 976 of this title, all calendar days except Sundays and legal public holidays. (3) “Closed end credit” means the extension of credit by a bank to a borrower pursuant to an arrangement or agreement which is not a revolving credit plan as defined in subchapter II of this chapter. (4) “Conspicuously displayed” means highlighted through the use of capitalization, bold print, underlining or some combination thereof. (5) “Loan” means any single extension of closed end credit. (6) “Right of recission” means, with respect to any short-term consumer loan, the right to return any amount borrowed, in full, on or before the close of business of the business day following the day on which such sum has been disbursed or advanced, without the incursion of any fee or other charges. (7) “Rollover” means, with respect to any short-term consumer loan, the extension of an outstanding and unpaid indebtedness beyond the stated repayment period solely on the basis of the payment of a fee without approval of a new loan application. (8) “Short-term consumer loan” means a loan of $500 or less made to an individual borrower that charges interest and/or fees for which the stated repayment period is less than 60 days and is not secured by title to a motor vehicle. (9) “Workout agreement” means an agreement between an individual borrower and a bank, trust company or savings bank for the repayment of an outstanding and unpaid indebtedness which requires a net reduction of not less than 10% of such indebtedness per payment period.63 Del. Laws, c. 2, §  5;  73 Del. Laws, c. 398, §  1;
5 DE Code § 962. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 9. Regulations Governing Business of Banks and Trust Companies|Subchapter III. Bank Closed End Credit|§ 962. Extension of credit.

§ 962. Extension of credit. Any bank may, subject to any limitations on lending authority contained in its charter or otherwise imposed by law and subject to the other provisions of this subchapter, offer and extend closed end credit to a borrower and in connection therewith, may charge and collect any periodic interest, interest charges and other charges permitted by this subchapter and may take such security as collateral in connection therewith as may be acceptable to the bank. 63 Del. Laws, c. 2, §  5;  66 Del. Laws, c. 283, §  12;
5 DE Code § 963. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 9. Regulations Governing Business of Banks and Trust Companies|Subchapter III. Bank Closed End Credit|§ 963. Periodic interest.

§ 963. Periodic interest. A bank may charge and collect periodic interest in respect of a loan 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 other 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 hereof, a year may but need not be a calendar year and may be such period of from 360 to 366 days, including or disregarding leap year, as the bank may determine. 63 Del. Laws, c. 2, §  5;  66 Del. Laws, c. 283, §§  13, 14;
5 DE Code § 964. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 9. Regulations Governing Business of Banks and Trust Companies|Subchapter III. Bank Closed End Credit|§ 964. Variable rates.

§ 964. Variable rates. If the agreement governing, or the bond, note or other evidence of, the loan so provides, the periodic percentage rate or rates of interest charged and collected in respect of the loan may, if the interest is not precomputed and taken in advance, vary in accordance with a schedule or formula. Such periodic percentage rate or rates may vary from time to time as the rate determined in accordance with such schedule or formula varies and such periodic percentage rate or rates, as so varied, may be made applicable to all or any part of outstanding unpaid amounts of such loan on and after the effective date of such variation. This section shall not be construed to limit the authority of a bank to charge and collect interest in respect of a loan in the manner and at the rate or rates authorized in any other section of this subchapter. Without limitation, a permissible schedule or formula hereunder may include provision in the agreement governing the loan for a change in the periodic percentage rate or rates of interest applicable to all or any part of outstanding unpaid amounts, whether by variation of the then applicable periodic percentage rate or rates of interest, variation of an index or margin or otherwise, contingent upon the happening of any event or circumstance specified in the loan agreement, which event or circumstance may include the failure of the borrower to perform in accordance with the terms of the loan agreement. 63 Del. Laws, c. 2, §  5;  68 Del. Laws, c. 303, §  23;
5 DE Code § 965. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 9. Regulations Governing Business of Banks and Trust Companies|Subchapter III. Bank Closed End Credit|§ 965. Interest charges.

§ 965. Interest charges. In addition to or in lieu of periodic interest at a periodic percentage rate or rates permitted by §§ 963 and 964 of this title, a bank may charge and collect, as interest, in respect of a loan:  (1) Loan fees, points, finders fees and other front-end and periodic charges; provided, however, that in the case of a loan to an individual borrower, no such front-end or periodic charge may be charged and collected unless the agreement governing, or the bond, note or other evidence of, the loan so provides; (2) Reasonable fees for services rendered or for reimbursement of expenses incurred in good faith by the bank or its agents in connection with such loan, including, without limitation, commitment fees, official fees and taxes, premiums or other charges for any guarantee or insurance protecting the bank against the borrower's default or other credit loss, or costs incurred by reason by examination of title, inspection, recording and other formal acts necessary or appropriate to the security of the loan, filing fees, attorney's fees and travel expenses; provided, however, that in the case of a loan to an individual borrower, no such fee may be charged and collected unless the agreement governing, or the bond, note or other evidence of, the loan so provides; (3) Returned payment charges; (4) Documentary evidence charges; and (5) Subject to any limitations contained in this subchapter, such other fees and charges as are set forth in the agreement governing, or the bond, note or other evidence of, the loan.63 Del. Laws, c. 2, §  5;  66 Del. Laws, c. 283, §§  15, 16;  71 Del. Laws, c. 19, §  51;
5 DE Code § 966. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 9. Regulations Governing Business of Banks and Trust Companies|Subchapter III. Bank Closed End Credit|§ 966. Deferred installments.

§ 966. Deferred installments. A bank may at any time or from time to time permit a borrower to defer installment payments of a loan and may, in connection with such deferral, charge and collect, as interest, deferral charges and may also require payment by such borrower, as interest, of the additional cost to the bank of premiums for continuing in force, until the end of such period of deferral, any insurance coverage provided in connection with the loan pursuant to § 967 of this title. 63 Del. Laws, c. 2, §  5;  66 Del. Laws, c. 283, §  17;
5 DE Code § 967. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 9. Regulations Governing Business of Banks and Trust Companies|Subchapter III. Bank Closed End Credit|§ 967. Insurance.

§ 967. Insurance. (a) A bank may request but not require an individual borrower to be insured in respect of a loan under a life, health, accident, health and accident or other permissible insurance policy, whether group or individual, and in the event that a loan to an individual borrower is secured by an interest in real or personal property, the bank may require the borrower to obtain insurance, from an insurer acceptable to the bank, against loss of or damage to such property, or against the liability arising out of the ownership or use of the property and may finance the premiums for such insurance. (b) In the case of a borrower borrowing for other than personal, household or family purposes, a bank may require the borrower to obtain insurance, from an insurer acceptable to the bank, under a life, health, accident, health and accident or other credit or other permissible insurance policy, whether group or individual, and in the event that the borrower's loan is secured by an interest in real or personal property, the bank may require the borrower to obtain insurance, from an insurer acceptable to the bank, against loss of or damage to such property, or against the liability arising out of the ownership or use of the property and may finance the premiums for such insurance. (c) The offer and placement of insurance under this section shall be subject in all respects to the applicable provisions of Title 18. 63 Del. Laws, c. 2, §  5;