reglab/housing_qa huggingface dataset:
5 DE Code § 1709. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 17. Regulation|Subchapter I. General Provisions|§ 1709. Unsound condition of association or unauthorized conduct of business; receivership and other remedial proceedings.

§ 1709. Unsound condition of association or unauthorized conduct of business; receivership and other remedial proceedings. (a) Proceedings may be instituted against any building and loan association doing business within the boundaries of this State, whenever it appears to the State Bank Commissioner that the affairs of any building and loan association are in an unsound condition because of illegal or unsafe investments, or that its liabilities exceed its assets, or that it is transacting business without authority or in violation of law, or that it is unsafe or inexpedient for the association to continue business. (b) The Attorney General, on notice by the State Bank Commissioner, shall institute such proceedings against the building and loan association as the nature of the case may require. For any of the reasons mentioned in this section the State Bank Commissioner may forthwith take possession of the building and loan association's property and business and retain such possession until the termination of the action or proceeding instituted by the Attorney General, or until the appointment of a receiver by due process of law. (c) The receiver to be appointed in a proceeding under this section shall be the State Bank Commissioner or, in his or her absence or disability, the Deputy Bank Commissioner. Neither of those officials shall receive any extra compensation for acting as receiver. The Court may vest the receiver with full power and authority to borrow such sum or sums of money as the Court determines in order the more readily or expeditiously to settle the affairs of the building and loan association and/or to make payments to its creditors, depositors or shareholders. Such borrowing may be from any public or governmental or quasi-public or quasi-governmental corporation, board, commission or other agency or from any source whatsoever, and the Court may authorize the receiver to secure any loan by the pledge of any of the property or assets of the building and loan association, and to give the lender a preference as to the pledged property and assets over the creditors of the building and loan association. 32 Del. Laws, c. 107, §  16;  Code 1935, §  2351;  44 Del. Laws, c. 135, §  1;  5 Del. C. 1953, §  1709;  70 Del. Laws, c. 186, §  1;
5 DE Code § 1710. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 17. Regulation|Subchapter I. General Provisions|§ 1710. Violations and penalties.

§ 1710. Violations and penalties. Any building and loan association wilfully violating or failing to observe and comply with this chapter shall be subject to a penalty of not less than $100 for each violation thereof, and for each failure to observe and comply with this chapter. Any building and loan association which neglects or refuses to pay and discharge the amount of the penalty shall have its authority to transact business in this State revoked by the State Bank Commissioner. Such revocation shall continue, and the building and loan association shall not again be authorized or permitted to transact business in this State until the association has paid the amount of the penalty. 32 Del. Laws, c. 107, §  20;  Code 1935, §  2355;  5 Del. C. 1953, §  1710;  68 Del. Laws, c. 105, §  6;
5 DE Code § 1721. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 17. Regulation|Subchapter II. License to Do Business|§ 1721. Requirement of license.

§ 1721. Requirement of license. No person shall engage in the business of a building and loan association, or a business similar to that of a building and loan association, within the limits of the State until a license has been obtained or the registration requirements fulfilled as provided in this subchapter. 32 Del. Laws, c. 107, §  9;  37 Del. Laws, c. 133, §  2;  Code 1935, §  2344;  5 Del. C. 1953, §  1721;  68 Del. Laws, c. 105, §  8;
5 DE Code § 1722. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 17. Regulation|Subchapter II. License to Do Business|§ 1722. Annual license fees.

§ 1722. Annual license fees. Every building and loan association created under this Code or any other law of this State, and doing business in this State, shall pay to the State Bank Commissioner, for the use of the State, at the time of filing its annual report, an annual license fee of $115. Every building and loan association, or a business similar to that of a building and loan association, created under the laws or regulations of any other state or federal agency and doing business within the boundaries of this State shall pay to the State Bank Commissioner, for the use of the State, at the time of filing its annual report, an annual registration fee of $575. 32 Del. Laws, c. 107, §  10;  Code 1935, §  2345;  5 Del. C. 1953, §  1722;  60 Del. Laws, c. 268, §§  10, 11;  67 Del. Laws, c. 260, §  1;  68 Del. Laws, c. 105, §  9;
5 DE Code § 1723. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 17. Regulation|Subchapter II. License to Do Business|§ 1723. Application for license generally; grounds for refusal; fee upon approval of application; investigation fee; moratorium upon issuance.

§ 1723. Application for license generally; grounds for refusal; fee upon approval of application; investigation fee; moratorium upon issuance. (a) Every person, desiring to obtain a license under this chapter, shall file with the Commissioner an application in writing in such form as may be prescribed by the Commissioner, which application must demonstrate public convenience and advantage which will be satisfied by the approval of such application. Before a license shall be issued by the Commissioner, the Commissioner shall make, or cause to be made, an investigation of the condition and affairs of the applicant and its general plan of operation. The Commissioner shall investigate the moral character and general fitness of the applicant, if an individual, and of the members of a partnership or association, and of the directors, managers, trustees, and other officers of every applicant, to discharge the duties reposed in them, and may examine any or all of them under oath. The Commissioner shall require the applicant to enter into written agreement with him or her for a business plan, describing the management, operations and investments. The business plan shall include financial projections of the proposed licensee for the first 3 years of operation and the plan, as a minimum, shall conform with the requirements of 12 C.F.R. § 571.6(b) as existing on the effective date hereof. Unless the State Bank Commissioner is satisfied as to the character and general fitness of the managing officers of the applicant to honestly and efficiently carry on its business, and that the plan of operation is financially and mathematically sound, and that the contracts or obligations issued or to be issued are practicable and possible of fulfillment, and of such nature as to insure the repayment of the principal amount or amounts actually paid in by the subscriber or purchaser, together with a reasonable profit or accumulation of interest within a reasonable time after notice and demand by the subscriber or purchaser, and is equitable and nonoppressive, the Commissioner shall refuse the license, and forthwith notify the applicant of such refusal, and specify in the notice the cause or causes thereof. (b) An applicant shall pay to the office of the State Bank Commissioner a fee of $1,150 for use of the State upon approval of the application. In addition, the applicant shall pay an investigation fee of $575 which shall not be refundable and shall be submitted with the application. (c) No new license required under § 1721 of this title shall be issued after July 15, 1991. 32 Del. Laws, c. 107, §  18;  33 Del. Laws, c. 112, §  2;  Code 1935, §  2353;  5 Del. C. 1953, §  1723;  60 Del. Laws, c. 268, §  12;  65 Del. Laws, c. 13, §  3;  67 Del. Laws, c. 260, §  1;  68 Del. Laws, c. 105, §  10;  70 Del. Laws, c. 186, §  1;
5 DE Code § 1724. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 17. Regulation|Subchapter II. License to Do Business|§ 1724. Issuance of license; term.

§ 1724. Issuance of license; term. If it appears from the annual statement filed with the State Bank Commissioner, that a building and loan association is in a safe or solvent condition, is transacting business in compliance with the law, and payment of the annual renewal license or registration fee as prescribed in § 1722 of this title has been made, then the Commissioner shall issue to the association a license authorizing it to transact its business in this State for 1 year from the date thereof unless the Commissioner deems it necessary, for the protection of the shareholders of the association, or of the public, to sooner revoke the same, which the Commissioner is empowered to do. 32 Del. Laws, c. 107, §  13;  Code 1935, §  2348;  5 Del. C. 1953, §  1724;  68 Del. Laws, c. 105, §  11;  70 Del. Laws, c. 186, §  1;
5 DE Code § 1725. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 17. Regulation|Subchapter II. License to Do Business|§ 1725. Revocation or withholding of license.

§ 1725. Revocation or withholding of license. If any building and loan association violates this chapter, or any law of the State, the State Bank Commissioner may revoke or withhold its license to do business. 32 Del. Laws, c. 107, §  17;  Code 1935, §  2352;  5 Del. C. 1953, §  1725;
5 DE Code § 1726. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 17. Regulation|Subchapter II. License to Do Business|§ 1726. Penalty for doing business without license.

§ 1726. Penalty for doing business without license. Whoever, being an agent or officer of any building and loan association which has not obtained authority to do business in this State under this chapter, or the authority of which has been revoked by the State Bank Commissioner, solicits or carries on business for the association in this State, shall be fined not less than $25 per violation. 32 Del. Laws, c. 107, §  21;  Code 1935, §  2356;  5 Del. C. 1953, §  1726;  68 Del. Laws, c. 105, §  12;  72 Del. Laws, c. 15, §  25;
5 DE Code § 1727. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 17. Regulation|Subchapter II. License to Do Business|§ 1727. Insurance required.

§ 1727. Insurance required. No building and loan association whose total assets exceed $10,000,000 or registered office of an association created under the laws of any other state may engage in business within this State unless its shares, savings accounts, savings certificates and other types of share or deposit accounts offered are federally insured. Before an institution which is not federally insured receives funds from a new shareholder, investor, member, subscriber and/or depositor, the institution shall obtain the signature of such person upon a disclosure, on a form approved by the State Bank Commissioner, advising such person that the funds deposited with that institution are not federally insured. 65 Del. Laws, c. 13, §  1;  67 Del. Laws, c. 55, §  3;  68 Del. Laws, c. 105, §  13;  69 Del. Laws, c. 40, §§  1, 2;  72 Del. Laws, c. 15, §  26;  74 Del. Laws, c. 4, §  1;  75 Del. Laws, c. 181, §  1;  82 Del. Laws, c. 12, § 1;
5 DE Code § 2201. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 22. Licensed Lenders|Subchapter I. Licensing|§ 2201. Definitions.

§ 2201. Definitions. In this chapter, unless the context otherwise requires:  (1) “Person” means an individual, corporation, partnership or any other business entity or group or combination of individuals however organized. (2) “Licensee,” “licensed lender,” “person licensed” or “lender” means any person duly licensed or regulated by the Commissioner pursuant to this chapter and, in addition, means any person or class of persons exempt from any or all of the provisions of this chapter in accordance with § 2202(b) of this title, to the extent and for such purposes as determined by the Commissioner in order to effectuate the purposes of this chapter. (3) “Commissioner” means the State Bank Commissioner. (4) “Payment period” means the period of time scheduled by the terms of a loan to elapse between the days upon which installment payment are required to be made on such loan.66 Del. Laws, c. 22, §  1;  68 Del. Laws, c. 105, §  18;  72 Del. Laws, c. 15, §  29;
5 DE Code § 2202. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 22. Licensed Lenders|Subchapter I. Licensing|§ 2202. License required.

§ 2202. License required. (a) Every person desiring to transact the business of lending money in this State shall be required to obtain a license under this chapter; provided, however, that a person that makes not more than 5 loans within any 12-month period shall be deemed not to be transacting the business of lending money. Except as otherwise provided by law, loans made by any such unlicensed lender shall fall under Chapter 23 of Title 6. This chapter shall not apply:  (1) To any banking organization, federal credit union or insurance company; or (2) To any other person, if and to the extent that such person is lending money in accordance with and as authorized by any other applicable law of this State or the United States, including but not limited to the registration requirements in Chapter 17 of this title. (b) The Commissioner shall be authorized to exempt from any or all of the provisions of this chapter such persons or classes of persons, or loans or classes of loans, as the Commissioner shall find inappropriate to include within the coverage of this chapter in order to effectuate the purposes of this chapter. The Commissioner may by regulation establish procedures for application, fees and other requirements for an exemption pursuant to this subsection. (c) A person shall not be deemed to be transacting the business of lending money within the meaning of this section solely by reason of the circumstance that such person is a participating merchant, as such term is used in this chapter. 66 Del. Laws, c. 22, §  1;  68 Del. Laws, c. 105, §  19;  70 Del. Laws, c. 327, §  43;  72 Del. Laws, c. 15, §  30;
5 DE Code § 2203. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 22. Licensed Lenders|Subchapter I. Licensing|§ 2203. Application and fees.

§ 2203. Application and fees. (a) Every application for a license shall be in writing in the form prescribed by the Commissioner and shall contain the name and complete address or addresses where the business of the applicant is to be conducted and, if the applicant be a partnership, association, corporation or other form of business organization, the names and complete addresses of each member, director and principal officer thereof. Such application shall also include a description of the activities of the applicant, in such detail and for such periods as the Commissioner may require, as well as such further information as the Commissioner may require. The Commissioner, at the time the application is submitted or in connection with an investigation of the application, may require the applicant, the spouse of the applicant, a principal of, individual who is a person in control of, or proposed responsible individual of the applicant, or any other individual associated with the applicant and the proposed licensed activities, to provide the Commissioner or the Commissioner's designee with a complete set of fingerprints for purposes of a criminal background investigation. Such applicant, at the time of making such application, shall pay to the Commissioner as an investigation fee the sum of $250 which shall not be refundable. (b) Upon approval, the applicant shall pay an annual license fee of $250 which shall be payable annually thereafter. No abatement in the amount of said license fee shall be made if the license is issued for less than 1 year or if the license is surrendered, canceled or revoked prior to the expiration of the period for which such license was issued. Every license shall expire on December 31 of each year. (c) In addition to the annual license fee required by subsection (b) of this section, each licensee making short-term consumer loans, as defined in § 2227 of this title, and/or title loans, as defined in § 2250 of this title, shall pay an annual high-cost loan license fee surcharge of $1,500 for each licensed office. There is hereby created within the State Treasury a special fund to be designated as the Financial Literacy Education Fund which shall be used to fund grants to or contracts with schools or other organizations that provide financial and economic literacy skills to adults and youth in accordance with guidelines and/or regulations to be established by the Commissioner and the Delaware Secretary of Education. All fees which are by law payable under this subsection shall be paid into the State Treasury and to the credit of the Financial Literacy Education Fund. 66 Del. Laws, c. 22, §  1;  68 Del. Laws, c. 105, §  20;  77 Del. Laws, c. 164, §  2;  82 Del. Laws, c. 78, § 2;
5 DE Code § 2204. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 22. Licensed Lenders|Subchapter I. Licensing|§ 2204. Issuance of license.

§ 2204. Issuance of license. Upon the filing of an application for a license, if the Commissioner shall find that the financial responsibility, experience, character and general fitness of the applicant and of the members thereof (if the applicant be a copartnership or association) and of the officers and directors thereof (if the applicant be a corporation) are such as to command the confidence of the community and to warrant belief that the business will be operated honestly, fairly and efficiently within the purpose of this chapter, the Commissioner shall thereupon issue a license to transact business in accordance with this chapter. If the Commissioner shall not so find, the Commissioner shall not issue such license and the Commissioner shall notify the applicant of the denial, give notice of the grounds for refusal and notify the applicant of the right to request a hearing. If the applicant requests a hearing the Commissioner shall hold such hearing under Chapter 101 of Title 29. The Commissioner shall approve or deny every application for license hereunder within 90 days from the date the Commissioner determines that the application as filed with the Commissioner is complete. 66 Del. Laws, c. 22, §  1;  68 Del. Laws, c. 105, §  21;  70 Del. Laws, c. 186, §  1;
5 DE Code § 2205. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 22. Licensed Lenders|Subchapter I. Licensing|§ 2205. Changes in officers or directors of licensee.

§ 2205. Changes in officers or directors of licensee. In the event that there shall be any change among the officers, partners or directors of any licensee, the licensee shall forthwith notify the Commissioner of the name, address and occupation of each new officer, partner or director and provide such other information as the Commissioner may require. 66 Del. Laws, c. 22, §  1;
5 DE Code § 2206. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 22. Licensed Lenders|Subchapter I. Licensing|§ 2206. License requirements; acquisition.

§ 2206. License requirements; acquisition. (a) A licensee shall obtain a license for each office or other place of business from which its licensed business is conducted upon payment of the required fees for each office and compliance with all applicable provisions of law. In the event the location of a licensed office is changed during the term of the license, the Commissioner shall issue without charge an amended license for the new location. In case there is a change of name but no change in corporate structure, the Commissioner shall issue without charge an amended license for the new name. Such license shall not be otherwise transferable or assignable. The Commissioner may issue more than 1 license to the same applicant upon payment of the required fees and compliance with all applicable provisions of law. (b) Upon written request, the Commissioner may in the Commissioner's discretion grant conditional approval for the acquired licensee to conduct its business under its existing license for a period not to exceed 60 days in cases where the control of the licensee changes and where a new application for licensure has been filed in accordance with § 2203 of this title. 66 Del. Laws, c. 22, §  1;  70 Del. Laws, c. 6, §§  8, 9;  70 Del. Laws, c. 186, §  1;  72 Del. Laws, c. 15, §  31;  80 Del. Laws, c. 225, § 4;
5 DE Code § 2207. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 22. Licensed Lenders|Subchapter I. Licensing|§ 2207. Renewal of license.

§ 2207. Renewal of license. Every holder of a license or a renewal thereof, as provided for in this section, desiring to continue the transaction of the business as provided for in this chapter, shall at least 30 days prior to the expiration of such license or renewal thereof make application to the Commissioner on forms to be provided by the Commissioner for a license renewal. The Commissioner may mandate that applications for renewal shall be treated as new applications if said renewal applications are not on file with the office of the State Bank Commissioner at least 30 days prior to the expiration of such license or renewal thereof. Licensees who have not complied with supervisory letters or who have not paid the supervisory assessment or examination fees may be refused license renewal. 66 Del. Laws, c. 22, §  1;  70 Del. Laws, c. 327, §  42;