reglab/housing_qa huggingface dataset:
5 DE Code § 2726. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 27. Cashing of Checks, Drafts or Money Orders|Subchapter II. License Provisions|§ 2726. Multi-state automated licensing system.

§ 2726. Multi-state automated licensing system. (a) The Commissioner is authorized to participate in any automated system involving 1 or more other states that will facilitate any aspect of the application and licensing processes of this chapter. (b) Upon joining any such system, the Commissioner may by regulation establish any of the following:  (1) Any additional requirements for a license under this chapter that the Commissioner determines are necessary for participation in the system. (2) Any additional investigation fees, any fees paid directly to the administrator of the system, or any other fee required by the system to process an application or maintain a license, in such amount as the Commissioner determines is necessary to participate in the system. (c) The administrator of any such system in which the Commissioner participates is authorized to act on behalf of the Commissioner to collect from the applicants and licensees subject to the system any payments due the Commissioner under this chapter, to collect information and maintain records in electronic or other format relating to those applicants and licensees, and to submit fingerprints and any other information required for a criminal history background check to the Federal Bureau of Investigation or other law-enforcement agency. (d) Information maintained on any such system in which the Commissioner participates regarding the applicants and licensees subject to the system may be shared with any other state participating in that system for the purpose of licensing, regulating, or supervising that same applicant or licensee under a statute similar to this chapter, if that state could have obtained that same information directly from the applicant or licensee under its own law. The Commissioner shall ensure that the system maintains appropriate confidentiality, privacy, data security, and security breach notification policies that are in full compliance with Delaware law. 82 Del. Laws, c. 78, § 6;
5 DE Code § 2741. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 27. Cashing of Checks, Drafts or Money Orders|Subchapter III. Regulatory Provisions|§ 2741. Rules and regulations of Commissioner.

§ 2741. Rules and regulations of Commissioner. The State Bank Commissioner may make such rules and regulations, and such specific rulings, demands and findings as he deems necessary for the proper conduct of the business authorized and licensed under and for the enforcement of this chapter. The rules and regulations and the specific rulings, demands and findings shall be in addition to, and not inconsistent with, this chapter. Code 1935, §  2408F;  46 Del. Laws, c. 287, §  1;  5 Del. C. 1953, §  2741;
5 DE Code § 2742. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 27. Cashing of Checks, Drafts or Money Orders|Subchapter III. Regulatory Provisions|§ 2742. Limitation on fees and charges for cashing checks or money orders.

§ 2742. Limitation on fees and charges for cashing checks or money orders. The licensee shall not charge or collect in fees or charges for cashing a check, draft or money order a sum to exceed 2 percent thereof, or $4, whichever is greater. In every location and upon every mobile unit licensed under this chapter, there shall be conspicuously posted and at all times displayed, a schedule of fees and charges permitted under this chapter. Code 1935, §  2408G;  46 Del. Laws, c. 287, §  1;  5 Del. C. 1953, §  2742;  67 Del. Laws, c. 88, §  1;  69 Del. Laws, c. 165, §  27;
5 DE Code § 2743. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 27. Cashing of Checks, Drafts or Money Orders|Subchapter III. Regulatory Provisions|§ 2743. Books, accounts and records of licensee.

§ 2743. Books, accounts and records of licensee. Each licensee under this chapter shall keep and use in the business such books, accounts, and records as the State Bank Commissioner requires to carry into effect this chapter and the rules and regulations made by the Commissioner under this chapter. Every licensee shall preserve such books, accounts and records for at least 2 years. Code 1935, §  2408G;  46 Del. Laws, c. 287, §  1;  5 Del. C. 1953, §  2743;
5 DE Code § 2745. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 27. Cashing of Checks, Drafts or Money Orders|Subchapter III. Regulatory Provisions|§ 2745. Violations and penalties.

§ 2745. Violations and penalties. (a) Whoever violates this chapter shall be fined not more than $500 or imprisoned not more than 1 year, or both. (b) Any person who suffers a loss due to a violation of this chapter by another shall have a private cause of action against such person. If damages are awarded to an aggrieved party as a result of a violation of this chapter, such damages awarded shall be treble the amount of the actual damages proved. (c) If a court of competent jurisdiction finds that any person has wilfully violated this chapter, the person shall forfeit and pay to the State or the aggrieved party, as the case may be, a civil penalty of not less than $250 nor more than $500 for the first violation, and not less than $500 nor more than $1,000 for each subsequent violation. For purposes of this subsection, a wilful violation occurs when the person committing the violation knew or should have known that the conduct was of the nature prohibited by this chapter. Code 1935, §  2408H;  46 Del. Laws, c. 287, §  1;  5 Del. C. 1953, §  2745;  73 Del. Laws, c. 405, §  1;
5 DE Code § 3301. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 33. Business and Industrial Development Corporations|Subchapter I. General Provisions|§ 3301. Short title.

§ 3301. Short title. This chapter shall be known and may be cited as the “Delaware Bidco Act.” 66 Del. Laws, c. 344, §  1;
5 DE Code § 3302. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 33. Business and Industrial Development Corporations|Subchapter I. General Provisions|§ 3302. Findings; declaration of purposes.

§ 3302. Findings; declaration of purposes. (a) It is determined and declared as a matter of legislative finding that:  (1) The availability of financial and management assistance are important resources to small businesses to locate, remain and expand in the State, which, in time, will result in increased employment opportunities in the State. (2) There is need for financial and management resource alternatives to small businesses in the State due to lack of bank financing in situations, including, but not limited to, start-ups, under-collateralization, management problems and above-average risk projects. (3) Many small businesses, although in a growth mode, do not meet the investment criteria of venture capital firms. (4) In order to increase employment opportunities and commercial transactions in the State, there is a need to encourage the development of resources directed at small businesses, which will help such businesses locate, remain and expand in the State. (b) It is further determined and declared that the purposes of this chapter shall be to:  (1) Promote economic development by encouraging the formation of private financial institutions known as Bidcos to help meet the financing assistance and management assistance needs of growth-oriented small businesses in the State; and (2) Provide for the licensing and regulation of Bidcos to prevent fraud, conflict of interest and mismanagement, in order to encourage:  a. Private equity investments in Bidcos; and b. Pension funds, insurance companies, foundations, utilities and other institutions to lend funds to Bidcos.66 Del. Laws, c. 344, §  1;
5 DE Code § 3304. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 33. Business and Industrial Development Corporations|Subchapter I. General Provisions|§ 3304. Applicability of other laws.

§ 3304. Applicability of other laws. A corporation licensed under and pursuant to this chapter shall be known as a Bidco, shall be subject to regulation by the Commissioner and shall be deemed subject to the General Corporation Law of Delaware to the extent that such law is not inconsistent with the express provisions of this chapter. 66 Del. Laws, c. 344, §  1;
5 DE Code § 3305. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 33. Business and Industrial Development Corporations|Subchapter I. General Provisions|§ 3305. Corporate name.

§ 3305. Corporate name. Each corporation licensed under this chapter shall use the word “Bidco” in its corporate name. 66 Del. Laws, c. 344, §  1;
5 DE Code § 3306. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 33. Business and Industrial Development Corporations|Subchapter I. General Provisions|§ 3306. Supervision of Bidcos.

§ 3306. Supervision of Bidcos. (a) The Commissioner shall administer this chapter and shall have supervision responsibility for all Bidcos incorporated under the laws of this State, and shall secure the execution of all laws relative to Bidcos. (b) The Commissioner shall issue orders and promulgate rules and regulations that are deemed necessary or appropriate to execute, enforce and effectuate the purposes of this chapter. (c) Whenever the Commissioner issues an order or license under this chapter, the Commissioner may impose conditions that are deemed necessary or appropriate to effectuate the purposes of this chapter. (d) Every final order, decision or license action of the Commissioner under this chapter is subject to administrative and judicial review in accordance with law. 66 Del. Laws, c. 344, §  1;
5 DE Code § 3307. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 33. Business and Industrial Development Corporations|Subchapter I. General Provisions|§ 3307. Fees.

§ 3307. Fees. The Commissioner shall establish a schedule of fees, which the Commissioner determines to be reasonable and necessary to effectuate the purposes of this chapter, in connection with the licensing, administration and supervision of Bidcos, and such schedule shall be subject to amendment by the Commissioner from time to time. 66 Del. Laws, c. 344, §  1;
5 DE Code § 3308. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 33. Business and Industrial Development Corporations|Subchapter I. General Provisions|§ 3308. Liberal construction.

§ 3308. Liberal construction. This chapter shall be liberally construed to accomplish its purposes. 66 Del. Laws, c. 344, §  1;
5 DE Code § 3312. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 33. Business and Industrial Development Corporations|Subchapter II. Licensing|§ 3312. Voluntary surrender of Bidco license.

§ 3312. Voluntary surrender of Bidco license. (a) Upon approval of a two-thirds vote of its board of directors and after complying with subsection (b) of this section, a licensee may apply to the Commissioner to have the Commissioner accept the surrender of the license of such licensee. If the Commissioner determines that the requirements of this section have been satisfied, the Commissioner shall approve the application, unless in the opinion of the Commissioner the purpose of the application is to evade a current or prospective action by the Commissioner under subchapter VI of this chapter. (b) Not less than 60 days before filing an application with the Commissioner under subsection (a) of this section, a licensee shall notify each of its shareholders of its intention to file such application. Each such shareholder shall be notified of the right to file with the licensee an objection to the proposed surrender of the license within the 60-day period and shall be advised that, if such shareholder files such an objection, such shareholder should send a copy of such objection to the Commissioner. If shareholders holding 20 percent or more of the outstanding voting securities of the licensee file such objections, the licensee shall not proceed with the application under subsection (a) of this section unless the application is approved by a vote of shareholders holding two thirds of the outstanding voting securities of such licensee. 66 Del. Laws, c. 344, §  1;
5 DE Code § 3321. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 33. Business and Industrial Development Corporations|Subchapter III. Conduct of Bidco Business|§ 3321. Office.

§ 3321. Office. (a) A licensee shall maintain not less than 1 office in the State. (b) Each office of a licensee, whether within or outside of the State, shall be located in a place which is reasonably accessible to the public. (c) A licensee shall maintain at each of its offices personnel who are competent to conduct the business of such office. (d) Upon written notice to the Commissioner, a licensee may establish, relocate or close an office. 66 Del. Laws, c. 344, §  1;
5 DE Code § 3322. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 33. Business and Industrial Development Corporations|Subchapter III. Conduct of Bidco Business|§ 3322. Business of a Bidco.

§ 3322. Business of a Bidco. (a) The business of a licensee shall be the business of providing financing assistance and management assistance to business firms. (b) A licensee may determine the structure and the terms and conditions for financing assistance provided by that licensee to a business firm including, but not limited to, structures such as straight loans, purchase of debt instruments, straight equity investments (e.g., purchase of common stock or preferred stock), debt with equity features (e.g., warrants to purchase stock, convertible debentures or receipt of a percentage of gross or net income or sales), royalty-based financing, guaranteeing of debt or leasing of property. (c) Management assistance provided by a licensee to a business firm may encompass management and technical advice and services. (d) A licensee may exercise the incidental powers that are necessary or convenient to carry on the business of, or that are reasonably related to the business of, providing financing assistance and management assistance to business firms. (e) In connection with an extension of credit by a licensee to a business firm, the licensee and such business firms may, notwithstanding any other provisions of the laws of the State, agree to any rate of interest and any schedule of fees. 66 Del. Laws, c. 344, §  1;
5 DE Code § 3324. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 33. Business and Industrial Development Corporations|Subchapter III. Conduct of Bidco Business|§ 3324. Business of Bidco to be conducted in prudent business manner.

§ 3324. Business of Bidco to be conducted in prudent business manner. (a) A licensee shall transact its business in a prudent business manner and shall maintain itself in a viable condition. (b) In determining whether a licensee is transacting business in a prudent business manner, the Commissioner shall not consider the risk of the financing assistance provided by such licensee to a business firm, unless the Commissioner determines that the risk is so great compared with the realistically expected return as to demonstrate mismanagement of the licensee. (c) Subsection (b) of this section shall not limit the authority of the Commissioner to do any of the following:  (1) Determine that a licensee's financing assistance to a single business firm or a group of affiliated business firms is in violation of subsection (a) of this section if the amount of such financing assistance is unduly large in relation to the total assets or the total shareholder's equity of such licensee. (2) Require that a licensee maintain a reserve in the amount of anticipated losses. (3) Require that a licensee have in effect a written financing assistance policy, approved by its board of directors, including credit evaluation criteria and other matters. The Commissioner shall not require that a licensee adopt a financing assistance policy that contains standards which prevent such licensee from exercising needed flexibility in evaluating and structuring financing assistance to business firms on a deal-by-deal basis.66 Del. Laws, c. 344, §  1;
5 DE Code § 3325. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 33. Business and Industrial Development Corporations|Subchapter III. Conduct of Bidco Business|§ 3325. Avoidance of conflict of interest.

§ 3325. Avoidance of conflict of interest. (a) A licensee shall avoid any transaction or act which involves, or has the potential to involve, a conflict of interest, unless such transaction or act and the circumstances underlying the conflict or potential conflict of interest are fully and adequately disclosed to appropriate persons. (b) Notwithstanding subsection (a) of this section, a licensee shall provide the Commissioner with a separate notice, setting forth the specific facts concerning an actual or potential conflict of interest, prior to the consummation of any transaction or act referred to in subsection (a) of this section. (c) Nothing in this section shall limit the authority of the Commissioner to determine that a transaction or act involves a conflict of interest, including, but not limited to, disapproval of any proposed transaction, or to take such steps that the Commissioner deems necessary or appropriate to resolve such conflict of interest. 66 Del. Laws, c. 344, §  1;
5 DE Code § 3331. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 33. Business and Industrial Development Corporations|Subchapter IV. Mergers, Acquisitions and Sale of Business Assets|§ 3331. General rules.

§ 3331. General rules. (a) Without the prior approval of the Commissioner, a licensee shall not consummate a transaction involving a merger, acquisition of control or a sale of all or substantially all of its business assets, where the licensee is a principal party to such transaction. (b) The Commissioner shall not approve the merger of a licensee with another corporation unless:  (1) The licensee is the surviving corporation; or (2) If the licensee is the disappearing corporation, the surviving corporation is also a licensee. (c) The Commissioner shall approve an application by a licensee for approval of a proposed transaction involving a merger, acquisition of control or a sale of all or substantially all of such licensee's business assets, only upon a finding by the Commissioner that:  (1) Such merger, acquisition or sale will be on a sound financial basis with respect to the acquiring licensee; (2) Upon consummation of such merger, acquisition or sale, it is reasonable to believe that the acquiring licensee will comply with this chapter; and (3) Such merger, acquisition or sale will not have a major detrimental impact upon competition in the providing of financing assistance or management assistance to business firms, or if there will be such a major detrimental impact, such merger, acquisition or sale is necessary in the interests of the financial soundness of any of the parties to such merger, acquisition or sale, or is otherwise, on balance, in the public interest.66 Del. Laws, c. 344, §  1;
5 DE Code § 3341. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 33. Business and Industrial Development Corporations|Subchapter V. Operating Rules Governing Business of Bidcos|§ 3341. Form and maintenance of Bidco records; annual audited report.

§ 3341. Form and maintenance of Bidco records; annual audited report. (a) A licensee shall make and keep books, accounts and other records in such form and manner as the Commissioner may require. Such records shall be kept at such place and shall be preserved for such length of time as the Commissioner may specify. (b) Not more than 90 days after the close of each fiscal year of a licensee or a longer period if specified by the Commissioner, a licensee shall file with the Commissioner an audited report containing the following:  (1) Financial statements, including balance sheet, statement of income or loss, statement of changes in capital accounts and statement of changes in financial position; (2) A report, certificate or opinion of the independent certified public accountant or independent public accountant who performs the audit, stating that the financial statements were prepared in accordance with generally accepted accounting principles; and (3) Such other information as the Commissioner may require.66 Del. Laws, c. 344, §  1;
5 DE Code § 3342. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 33. Business and Industrial Development Corporations|Subchapter V. Operating Rules Governing Business of Bidcos|§ 3342. Periodic report requirements.

§ 3342. Periodic report requirements. In addition to the audited report required by § 3341(b) of this title, a licensee shall file with the Commissioner such other reports and at such times as the Commissioner may require. Any report required by the Commissioner under this section shall be in such form and shall contain such information as the Commissioner may specify. 66 Del. Laws, c. 344, §  1;
5 DE Code § 3343. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 33. Business and Industrial Development Corporations|Subchapter V. Operating Rules Governing Business of Bidcos|§ 3343. Examination of Bidcos.

§ 3343. Examination of Bidcos. (a) The Commissioner shall visit and examine each licensee as frequently as the Commissioner deems it necessary or expedient of such licensee. On the occasion of every such visit and examination, the Commissioner shall (in company with 1 or more of the officers of such licensee, if requested by such licensee) be given free access to every part of the office or place of business and to the assets, securities, books, papers and records of such licensee. (b) If in the Commissioner's opinion it is necessary for a thorough examination of a licensee, the Commissioner may retain 1 or more accountants, attorneys, appraisers or other 3rd parties to assist the Commissioner in such examination. Within 10 days after receipt of a statement from the Commissioner, such licensee shall pay or reimburse the fees, costs and expenses of any 3rd parties retained by the Commissioner under this subsection. (c) Any examination under this section may be made by any person or persons designated by the Commissioner, and in such case all the powers vested in the Commissioner by this section shall be possessed by such person or persons so designated. When any such examination is made without the presence of the Commissioner, the Commissioner shall give written authority to the person or persons conducting such examination, which shall be exhibited to any person contacted in the course of the investigation. 66 Del. Laws, c. 344, §  1;