reglab/housing_qa huggingface dataset:
5 DE Code § 129. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 1. State Bank Commissioner|Subchapter II. Powers and Duties|§ 129. Insufficient proportion of assets in cash or readily convertible securities; Commissioner's notice to directors, stockholders, etc.

§ 129. Insufficient proportion of assets in cash or readily convertible securities; Commissioner's notice to directors, stockholders, etc. Whenever the Commissioner shall be satisfied from the Commissioner's examination of any bank or trust company (other than savings banks and savings societies) that the bank or trust company has an insufficient proportion of its assets in cash and securities readily convertible into cash, the Commissioner shall so notify the board of directors of the bank or trust company, and thereupon the board of directors shall carry out the requirements of the Commissioner in that behalf, and upon their failure to do so within such time as the Commissioner considers reasonable, the Commissioner shall report the matter to the stockholders of the bank or trust company either at a regular or special meeting. The Commissioner may call a special meeting of the stockholders for this purpose should the Commissioner deem it advisable. Nothing in this section shall be deemed to limit or curtail the powers and duties of the Commissioner as provided in §§ 131-135 of this title. 37 Del. Laws, c. 132, §  1;  Code 1935, §  2313;  5 Del. C. 1953, §  129;  49 Del. Laws, c. 129;  70 Del. Laws, c. 186, §  1;
5 DE Code § 130. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 1. State Bank Commissioner|Subchapter II. Powers and Duties|§ 130. Impaired capital; procedure upon failure to make good.

§ 130. Impaired capital; procedure upon failure to make good. If the Commissioner believes that the capital of any bank or trust company under the Commissioner's jurisdiction has been impaired, the Commissioner may require it to make good the deficiency within such time as the Commissioner shall specify. If the bank or trust company shall fail to comply with the Commissioner's notice within the time prescribed, the Commissioner may forthwith take possession of the institution's place of business, and retain such possession until the institution shall have made good the deficiency, or has been finally liquidated, or a receiver shall have been appointed to take charge of its business and affairs. The Commissioner may cause proceedings to be instituted against the institution, and the Attorney General shall, upon the request of the Commissioner, institute such proceedings as the nature of the case may require. 30 Del. Laws, c. 111, §  10;  32 Del. Laws, c. 103, §  6;  38 Del. Laws, c. 93, §  1(2);  Code 1935, §§  2283, 2294;  5 Del. C. 1953, §  130;  70 Del. Laws, c. 186, §  1;
5 DE Code § 132. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 1. State Bank Commissioner|Subchapter II. Powers and Duties|§ 132. Possession and operation of bank or trust company by Commissioner without receivership.

§ 132. Possession and operation of bank or trust company by Commissioner without receivership. If by reason of any circumstance or condition whatsoever, the Commissioner shall be satisfied that it is necessary for the protection of the depositors and the conservation of the assets of any state bank or trust company doing business in this State, the Commissioner may forthwith take possession of the place of business of the bank or trust company and take charge of its affairs and the conduct of its business for such time as the Commissioner deems necessary without first instituting or causing to be instituted any proceeding in the Court of Chancery, but every bank or trust company shall have the right to apply to the Court of Chancery for a rule on the Commissioner so taking possession of the bank or trust company to show cause why the Commissioner should continue in possession, and the Court may after a hearing upon such rule, direct the Commissioner to withdraw from the possession of the bank or trust company if the Court deems that the taking of such possession or the Commissioner's continuance therein is unnecessary or inexpedient. The Commissioner may keep the bank or trust company open and continue it in the transaction of business during the Commissioner's possession of it, and if the Commissioner deems it necessary, to prescribe restrictions as to the withdrawal of deposits, whether time or demand, and to prescribe the conditions upon which deposits, whether time or demand, may be withdrawn during the Commissioner's possession of the bank or trust company. 32 Del. Laws, c. 103, §  9;  38 Del. Laws, c. 93, §  1(3), (4);  Code 1935, §  2297;  5 Del. C. 1953, §  132;  70 Del. Laws, c. 186, §  1;
5 DE Code § 133. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 1. State Bank Commissioner|Subchapter II. Powers and Duties|§ 133. Employment of assistants.

§ 133. Employment of assistants. The Secretary of State may employ such persons outside the regular force in the State Banking Department as the Secretary deems necessary or proper to assist the Commissioner in the performance of the Commissioner's duties, whether acting as receiver under order of Court or in possession of the bank or trust company on the Commissioner's own motion, under §§ 131 and 132 of this title, and may select some or all of the officers and employees of the bank or trust company for this purpose. He or she shall require such security as he or she deems proper from the persons appointed pursuant to this section. 32 Del. Laws, c. 103, §  9;  38 Del. Laws, c. 93, §  1(3), (4);  Code 1935, §  2297;  5 Del. C. 1953, §  133;  57 Del. Laws, c. 740, §  16I;  63 Del. Laws, c. 195, §  1B;  70 Del. Laws, c. 186, §  1;
5 DE Code § 134. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 1. State Bank Commissioner|Subchapter II. Powers and Duties|§ 134. Commissioner's costs and expenses as receiver; priority.

§ 134. Commissioner's costs and expenses as receiver; priority. The costs and expenses incurred by the Commissioner in acting as the receiver for any bank or trust company, including the compensation and expenses of all assistants, shall be paid out of the assets of the said bank or trust company and shall have priority over all of its other corporate indebtedness. The costs and expenses incurred by the Commissioner in taking possession of a corporation without being appointed receiver thereof, including the compensation and expenses of all assistants, shall be paid out of the assets of the bank or trust company and shall have priority over its other debts. 32 Del. Laws, c. 103, §  9;  38 Del. Laws, c. 93, §  1(3), (4);  Code 1935, §  2297;  5 Del. C. 1953, §  134;  57 Del. Laws, c. 740, §  16J;
5 DE Code § 135. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 1. State Bank Commissioner|Subchapter II. Powers and Duties|§ 135. Moratorium on deposit withdrawals and segregation of new deposits.

§ 135. Moratorium on deposit withdrawals and segregation of new deposits. The Commissioner may, in addition to all other powers, whenever in the Commissioner's judgment the circumstances warrant it, authorize any and all banks and trust companies under the Commissioner's jurisdiction to:  (1) Extend for a period of 90 days, and for a further period if the Commissioner deems it expedient, payment of any time accounts where notice of withdrawal has been given or may thereafter be given; (2) Postpone for any length of time the payment of any proportion of the deposits in demand accounts of any individual, firm or corporation as the Commissioner deems necessary and expedient, to be determined by the Commissioner according to the ability of any bank or trust company to pay such withdrawals; (3) Receive new deposits which shall be segregated from the old deposits and which shall not be subject to the restriction or limitations authorized by subdivisions (1) and (2) of this section. The new deposits shall be invested in such liquid assets as may be approved by the Commissioner in order that banks and trust companies may at all times have sufficient funds to meet the demands for withdrawal of such new deposits.32 Del. Laws, c. 103, §  9;  38 Del. Laws, c. 93, §  1(3), (4);  Code 1935, §  2297;  5 Del. C. 1953, §  135;  70 Del. Laws, c. 186, §  1;
5 DE Code § 138. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 1. State Bank Commissioner|Subchapter II. Powers and Duties|§ 138. Hearings.

§ 138. Hearings. A hearing conducted pursuant to § 136, § 137 or § 143 of this title shall be conducted in accordance with Chapter 101 of Title 29; provided, however, that such a hearing shall be a nonpublic hearing, notwithstanding any statute or rule to the contrary. A nonpublic hearing shall be identical in all respects to a public hearing; provided, however, that the notice of hearing, the transcript, the proposed findings and conclusions of the Commissioner, the findings and conclusions of the Commissioner and other papers which are filed in connection with any hearing shall not be made public. 61 Del. Laws, c. 544, §  4;  68 Del. Laws, c. 303, §  7;
5 DE Code § 139. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 1. State Bank Commissioner|Subchapter II. Powers and Duties|§ 139. Judicial review.

§ 139. Judicial review. (a) Orders issued by the Commissioner pursuant to §§ 136 and 137 of this title shall be enforced by the Court of Chancery, subject to the following conditions and limitations:  (1) Any person aggrieved and directly affected by an order of the Commissioner issued pursuant to §§ 136 and 137 of this title may appeal to the Court of Chancery within 30 days after the issuance of such order; (2) The filing of an appeal shall not stay the enforcement of an order, but the Court may order a stay on such terms as it deems proper; (3) The Court may affirm, modify, terminate or set aside, in whole or in part, the order of the Commissioner if such order was issued pursuant to an invalid statute or regulation, in excess of statutory authority or if such order was not supported by substantial evidence in the record; (4) The judgment and decrees of the Court shall be final, except that it shall be subject to review by the Supreme Court. (b) No person shall be subjected to any civil or criminal liability for any act or omission to act in good faith in reliance upon a subsisting order, regulation or definition of the Commissioner, notwithstanding a subsequent decision by any court invalidating the order, regulation or definition. 61 Del. Laws, c. 544, §  5;
5 DE Code § 140. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 1. State Bank Commissioner|Subchapter II. Powers and Duties|§ 140. Notice to federal authorities.

§ 140. Notice to federal authorities. In connection with any proceeding under this chapter involving a financial institution under the concurrent supervision of a federal agency and the Commissioner, the Commissioner shall provide the appropriate federal agency with notice of any such proceedings and the grounds therefor. Such proceeding may then be continued jointly or by either the federal agency or the Commissioner. Failure of the Commissioner to give such notice shall not constitute a ground for attacking the validity of the order. 61 Del. Laws, c. 544, §  6;
5 DE Code § 141. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 1. State Bank Commissioner|Subchapter II. Powers and Duties|§ 141. Retention of financial institution records.

§ 141. Retention of financial institution records. (a) All records of financial institutions and of federally chartered financial institutions, insofar as this section does not contravene paramount federal law, shall be retained for such minimum periods as the Commissioner may prescribe. (b) The Commissioner shall from time to time issue regulations classifying all records kept by these institutions and prescribing the minimum period for which these records shall be retained. The periods may be permanent or for a lesser term. Such regulations may be amended or repealed from time to time. The regulations shall be promulgated as provided for in Chapter 101 of Title 29. (c) In issuing the regulations required by subsection (b) of this section, the Commissioner shall consider:  (1) Court and administrative proceedings in which the production of these records might be necessary or desirable; (2) State and federal statutes of limitation applicable to such proceedings; (3) Availability of information from other sources; and (4) Such other matters as the Commissioner shall deem pertinent in order that the regulations will require retention of records for such reasonable period as is commensurate with the interests of customers, depositors, stockholders and the peoples of the State in having such records available. (d) The Commissioner shall additionally prescribe the substitution of reproductions for the originals to cover the periods for which such records shall be retained. (e) Institutions may at their option dispose of any record which has been retained for the minimum period prescribed by the Commissioner. 61 Del. Laws, c. 360, §  1;
5 DE Code § 142. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 1. State Bank Commissioner|Subchapter II. Powers and Duties|§ 142. Subpoena powers.

§ 142. Subpoena powers. The Commissioner's authority to subpoena witnesses and documents outside the State shall exist to the maximum extent permissible under federal constitutional law. 68 Del. Laws, c. 303, §  8;
5 DE Code § 144. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 1. State Bank Commissioner|Subchapter II. Powers and Duties|§ 144. Restrictions on use of words “savings” or “trust” in corporate name.

§ 144. Restrictions on use of words “savings” or “trust” in corporate name. No financial institution established under this title shall have or use the word “savings” in its title or name, except for a savings bank established under Chapter 16 of this title, nor shall any financial institution established, licensed or authorized to transact business under this title which is not a bank and trust company, a limited purpose trust company or a trust company have or use the word “trust” in its title or name, unless it, or an affiliate of such entity, is a regulated trust institution under the laws of this or any other state. 70 Del. Laws, c. 6, §  1;  71 Del. Laws, c. 25, §  4;  73 Del. Laws, c. 247, §  4;
5 DE Code § 160. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 1. State Bank Commissioner|Subchapter III. Change in Bank Control|§ 160. Prior permission required.

§ 160. Prior permission required. (a) No person, acting directly or indirectly or through or in concert with 1 or more other persons, shall acquire control of any Delaware chartered bank or trust company through a purchase, assignment, transfer, pledge or other disposition of voting stock of such bank or trust company unless the State Bank Commissioner has been given at least 60 days' prior written notice of such proposed acquisition and within that time period the Commissioner has not issued a notice disapproving the proposed acquisition or extending for up to another 30 days the period during which such approval may issue. The period for disapproval may be further extended only if the Commissioner determines that any acquiring party has not furnished all the information required or that in his judgment any material information submitted is substantially inadequate. An acquisition may be made prior to the expiration of the disapproval period if the Commissioner issues written notice of his intent not to disapprove the action. (b) Notwithstanding any other provision of this title, and subject to the provisions contained herein, an out-of-state bank holding company may acquire and retain an existing bank satisfying the conditions of subchapter I of Chapter 8 of this title and except for the requirement that such bank be a newly established bank, all other provisions of subchapter I of Chapter 8 of this title will be applicable to such out-of-state bank holding company and the bank so acquired; provided, however, that no acquisition shall be authorized by this subsection on or after January 1, 1997. 66 Del. Laws, c. 24, §  1;  68 Del. Laws, c. 105, §  2;  71 Del. Laws, c. 19, §  9;
5 DE Code § 161. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 1. State Bank Commissioner|Subchapter III. Change in Bank Control|§ 161. Publication required.

§ 161. Publication required. Any person filing a notice shall publish in a local newspaper of general circulation an announcement of the Commissioner's acceptance of the sufficiency of the notice. 66 Del. Laws, c. 24, §  1;
5 DE Code § 162. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 1. State Bank Commissioner|Subchapter III. Change in Bank Control|§ 162. Content of notice.

§ 162. Content of notice. Except as otherwise provided by regulation of the Commissioner, a change of control notice filed under this subchapter shall contain at least the following information:  (1) The identity, personal history, business background and experience of each person by whom or on whose behalf the acquisition is to be made, including his material business activities and affiliations during the past 5 years, and a description of any material pending legal or administrative proceedings in which he is a party and any criminal indictment or conviction of such person by a state or federal court. (2) A statement of the assets and liabilities of each person by whom or on whose behalf the acquisition is to be made, as of the end of the fiscal year for each of the 5 years immediately preceding the date of the notice, together with related statements of income and source and application of funds for each of the 5 fiscal years must be included, all prepared in accordance with generally accepted accounting principles consistently applied, and an interim statement of the assets and liabilities for each such person together with related statements of income, source and application of funds, as of a date not more than 90 days prior to the date of filing of the notice. (3) The terms and conditions of the proposed acquisition as well as the manner in which the acquisition is to be made. (4) The identity, source and amount of the funds or other consideration used or to be used in making the acquisition, and if any part of these funds or other consideration has been or is to be borrowed or otherwise obtained for the purpose of making the proposed acquisition, the notice must include a description of the transaction, the names of the parties, and any arrangements, agreements or understandings with such persons. (5) Any plans or proposals which any acquiring party making the acquisition may have to liquidate the bank, to sell its assets or to merge it with any company or to make any other major change in its business or corporate structure or management. (6) The identification of any person employed, retained, or to be compensated by the acquiring party, or by any person on its behalf, to make solicitations or recommendations to stockholders for the purpose of assisting in the acquisition, and a brief description of the terms of such employment, retainer or arrangement for compensation. (7) Copies of all invitations or tenders, or advertisements making a tender offer, to stockholders for the purpose of purchasing their stock that will be used in connection with the proposed acquisition. (8) Any additional relevant information in such form as the Commissioner may require by regulation or by specific request in connection with any particular notice.66 Del. Laws, c. 24, §  1;
5 DE Code § 163. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 1. State Bank Commissioner|Subchapter III. Change in Bank Control|§ 163. Disapproval of an application.

§ 163. Disapproval of an application. The Commissioner may disapprove any proposed acquisition if:  (1) The proposed acquisition of control would result in a monopoly or would be in furtherance of any combination of conspiracy to monopolize or attempt to monopolize the business of banking in the State; (2) The effect of the proposed acquisition of control in Delaware may be substantially to lessen competition or to tend to create a monopoly or the proposed acquisition of control would in any manner be in restraint of trade and the anticompetitive effects of the proposed acquisition of control are not clearly outweighed in the public interest by the probable effect of the transaction in meeting the convenience and needs of the community to be served; (3) The financial condition of any acquiring person is such as might jeopardize the financial stability of the bank or prejudice the interest of the depositors of the bank; (4) The competence, experience or integrity of any acquiring person or of any of the proposed management personnel indicates that it would not be in the interest of the depositors of the bank or in the interest of the public to permit such person to control the bank; or (5) Any acquiring person neglects, fails or refuses to furnish the Bank Commissioner all the information required by the Bank Commissioner's office.66 Del. Laws, c. 24, §  1;  70 Del. Laws, c. 186, §  1;
5 DE Code § 164. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 1. State Bank Commissioner|Subchapter III. Change in Bank Control|§ 164. Notice and hearing.

§ 164. Notice and hearing. Having decided to disapprove any proposed acquisition the Commissioner shall promptly notify the acquiring party in writing of the disapproval. Such notice shall provide a statement for the basis of the disapproval. Within 10 days after the receipt of such notice of disapproval, the acquiring party may request a hearing before the Bank Commissioner on the proposed acquisition. The hearing shall be conducted in accordance with the provisions of Chapter 101 of Title 29. 66 Del. Laws, c. 24, §  1;
5 DE Code § 165. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 1. State Bank Commissioner|Subchapter III. Change in Bank Control|§ 165. Civil actions and penalties.

§ 165. Civil actions and penalties. Any person who wilfully violates any provision of this subchapter, or any regulation or order issued by the Commissioner pursuant thereto, shall forfeit and pay the civil penalty of not more than $10,000 per day for each day during which such violation continues. The Commissioner shall have authority to assess such a civil penalty, after giving notice and an opportunity to the person to submit data, views and arguments, and after giving due consideration to the appropriateness, the penalty with respect to the size of the financial resources and good faith of the person charged, the gravity of the violation, and any data, views and arguments submitted. The Bank Commissioner may collect such civil penalty by agreement with the person or by bringing an action in the Court of Chancery, except that in any such action, the person against whom the penalty has been assessed shall have a right of trial de novo. 66 Del. Laws, c. 24, §  1;
5 DE Code § 166. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 1. State Bank Commissioner|Subchapter III. Change in Bank Control|§ 166. Injunction.

§ 166. Injunction. The State Bank Commissioner is empowered to seek an injunction for violation of this subchapter and any such action shall be brought in the Court of Chancery. 66 Del. Laws, c. 24, §  1;