reglab/housing_qa huggingface dataset:
5 DE Code § 3221. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 32. Transportation of Money and Valuables|§ 3221. Cease and desist orders.

§ 3221. Cease and desist orders. (a) The Commissioner shall have the power and authority to issue and serve an order upon a person to cease and desist from any violation or practice if, in the opinion of the Commissioner, a transporter subject to this chapter is engaging in, or has engaged in, or, if the Commissioner has reasonable cause to believe that such institution or company is about to engage, in any of the following:  (1) A violation of a law, rule or regulation relating to the supervision of such transporter; (2) A violation of any written agreement entered into with the Commissioner; or (3) A violation of warranties, terms or conditions of the insurance contract(s) which may, in the judgment of the Commissioner, lead to an inability to recover. (b) Such order may require the officers or directors of the institution or company to take affirmative action to correct any violation or practice. (c) A cease and desist order issued pursuant to this section shall include a statement of the facts upon which the order is based, specific activities which the financial institution must cease, the affirmative acts required of the financial institution and the effective date of the order. A cease and desist order may be served by any member of the State Bank Commissioner's Office who is designated by the Commissioner. Service may be effected by hand delivering the order to the transporter at its principal place of business during normal working hours. (d) Except as provided in subsection (e) of this section, a cease and desist order shall not become effective in less than 10 days after the order is served. After an order is served, but before its effective date, upon petition of any interested party, the Commissioner shall conduct a hearing. At the conclusion of such hearing, the Commissioner may affirm the cease and desist order as originally issued, or he may modify, amend or rescind such order. (e) Whenever, in the opinion of the Commissioner, the violation or practice set forth in subsection (a) of this section represents an immediate danger or substantial harm to the interests of the public, the Commissioner may issue a cease and desist order pursuant to subsection (a) of this section, which shall become effective upon service thereof, without prior notice or hearing. Upon the application of an interested party, the Commissioner shall afford an opportunity for a hearing to consider rescission of any order issued pursuant to this subsection, and any action taken promptly thereafter. 68 Del. Laws, c. 113, §  2;
5 DE Code § 3401. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 34. Preneed Funeral Contracts|§ 3401. Definitions.

§ 3401. Definitions. As used in this chapter, unless the context requires otherwise:  (1) “Commissioner” means the State Bank Commissioner. (2) “Insured institution” means an insured depository institution (as defined in the Federal Deposit Insurance Act at 12 U.S.C. § 1813(c)(2)) or an insured credit union (as defined in the Federal Credit Union Act at 12 U.S.C. § 1752(7)) authorized by law to do business in this State. (3) “Preneed burial contract” means a contract which has for a purpose the furnishing or performance of funeral services or the furnishing or delivery of personal property, merchandise or services of any nature in connection with the final disposition of a dead human body for future use at a time determinable by the death of the person whose body is to be disposed of, but does not mean the furnishing of a cemetery lot, mausoleum or memorial.24 Del. C. 1953, §  3120;  58 Del. Laws, c. 415, §  2;  63 Del. Laws, c. 145, §  1;  71 Del. Laws, c. 19, §§  10, 11;
5 DE Code § 3402. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 34. Preneed Funeral Contracts|§ 3402. Preneed payments and increment as trust funds; disbursement of funds; exceptions.

§ 3402. Preneed payments and increment as trust funds; disbursement of funds; exceptions. (a) All payments of money made to any person, partnership, association or corporation upon any agreement or contract, or any series or combination of agreements or contract, but not including the furnishing of cemetery lots or mausoleums, which has for a purpose the furnishing or performance of funeral services or the furnishing or delivery of personal property, merchandise or services of any nature in connection with the final disposition of a dead human body for future use at a time determinable by the death of the person whose body is to be disposed of, are held to be trust funds. The person, partnership, association or corporation receiving the payments is declared to be a trustee thereof and shall deposit all payments in a trust account with an insured institution. All of the interest, dividends, increases or accretions of whatever nature earned by the funds deposited in a trust account shall remain with the principal of such account and become a part thereof, subject to all of the regulations concerning the principal of said fund herein contained. (b) Except where payment is made pursuant to § 3403 of this title or the trust is established in accordance with § 3404 of this title, all payments made under the agreement, contract or plan are and shall remain trust funds with the insured institution until the death of the person for whose service the funds were paid and until the delivery of all merchandise and full performance of all services called for by the agreement, contract or plan. (c) Except as provided in § 3404 of this title, the funds shall not be paid by the insured institution until a certified statement is furnished to the insured institution setting forth that all of the terms and conditions of the agreement have been fully performed by the person, association, partnership, firm or corporation. Any balance remaining in the fund after payment for the merchandise and services as set forth in the agreement, contract or plan shall be paid to the estate of the beneficiary of the agreement, contract or plan. (d) Subsection (a) of this section does not apply to contracts for funeral service or merchandise sold as burial insurance policies which are regulated by the Insurance Department of this State. 24 Del. C. 1953, §  3121;  58 Del. Laws, c. 415, §  2;  63 Del. Laws, c. 145, §  1;  68 Del. Laws, c. 389, §§  1, 2;  69 Del. Laws, c. 165, §§  12, 13;  71 Del. Laws, c. 19, §§  10, 12, 13;
5 DE Code § 3403. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 34. Preneed Funeral Contracts|§ 3403. Revocable trust accounts; refund to persons making payments.

§ 3403. Revocable trust accounts; refund to persons making payments. (a) Except as provided in § 3404 of this title, upon the giving of 15 days' written notice, any person, partnership or corporation who has paid funds for a preneed funeral service may demand a refund of the entire amount actually paid, together with all interest, dividends, increases or accretions of any kind whatsoever which have been earned on such funds. (b) The insured institution shall be relieved from further liability, after making payment to the person making payment of said funds, to the trustee upon receipt of the foregoing written notice. Notice of payment of funds under this section shall be given by the insured institution to the trustee. 24 Del. C. 1953, §  3122;  58 Del. Laws, c. 415, §  2;  63 Del. Laws, c. 145, §  1;  68 Del. Laws, c. 389, §§  3, 4;  71 Del. Laws, c. 19, §§  10, 14, 15;
5 DE Code § 3404. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 34. Preneed Funeral Contracts|§ 3404. Irrevocable trust accounts.

§ 3404. Irrevocable trust accounts. (a) Any person, partnership or corporation who enters into a preneed funeral contract has the option, at any time, to establish an irrevocable trust for all funds or any portion of payments made or to be made under the agreement, contract or plan. At no time shall such funds exceed $15,000. (b) The trust document establishing an irrevocable trust shall contain such specific provisions as the Commissioner may by regulation require. 68 Del. Laws, c. 389, §  5;  70 Del. Laws, c. 310, §  1;  71 Del. Laws, c. 19, §  10;  76 Del. Laws, c. 36, §  2;
5 DE Code § 3405. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 34. Preneed Funeral Contracts|§ 3405. Trust funds; how kept and deposited.

§ 3405. Trust funds; how kept and deposited. All trust funds mentioned in this chapter shall be deposited in the name of the trustee, as trustee, within 30 days after receipt thereof, with an insured institution and shall be held together with the interest, dividends or accretions thereon in trust subject to this chapter. The trustee at the time of making deposit or investment shall furnish to the insured institution the name of each payor and the amount of payment on each account for which the deposit or investment is being made. 24 Del. C. 1953, §  3123;  58 Del. Laws, c. 415, §  2;  63 Del. Laws, c. 145, §  1;  68 Del. Laws, c. 389, §  5;  69 Del. Laws, c. 165, §  14;  71 Del. Laws, c. 19, §§  10, 16;
5 DE Code § 3406. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 34. Preneed Funeral Contracts|§ 3406. License to accept preneed contract required; fees.

§ 3406. License to accept preneed contract required; fees. (a) No person, firm, partnership, association or corporation may, without first securing from the Commissioner a license, accept or hold payments made on preneed burial contracts, except insured institutions as defined in § 3401 of this title. Application for a license shall be in writing, signed by the applicant and duly verified on forms furnished by the Commissioner. Each application shall contain at least the following:  The full name and address (both residence and place of business) of the applicant and every member, officer and director thereof if the applicant is a firm, partnership, association or corporation. Any license issued pursuant to the application shall be valid only at the address stated in the application for the applicant or at a new address approved by the Commissioner. (b) Upon receipt of the application and payment of a license fee of $25, the Commissioner shall issue a license, unless the Commissioner determines that the applicant has made false statements or representations in the application, or is insolvent, or has conducted or is about to conduct business in a fraudulent manner, or is not duly authorized to transact business in this State. 24 Del. C. 1953, §  3124;  58 Del. Laws, c. 415, §  2;  63 Del. Laws, c. 145, §  1;  68 Del. Laws, c. 389, §  5;  70 Del. Laws, c. 186, §  1;  71 Del. Laws, c. 19, §§  10, 17;
5 DE Code § 3407. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 34. Preneed Funeral Contracts|§ 3407. Records of licensee; requirements; inspection.

§ 3407. Records of licensee; requirements; inspection. The licensee shall keep accurate accounts, books and records in this State of all transactions, copies of all agreements, dates and amounts of payments made and accepted thereon, the names and addresses of the contracting parties, the persons for whose benefit funds are accepted, and the names of the insured institutions in which the funds are deposited or invested. The licensee shall make all books and records pertaining to the trust funds available to the Commissioner for examination. The Commissioner may at any time investigate the books, records and accounts of the licensee with respect to its trust funds, and for that purpose may require the attendance of and examine under oath all persons whose testimony the Commissioner may require. 24 Del. C. 1953, §  3125;  58 Del. Laws, c. 415, §  2;  63 Del. Laws, c. 145, §  1;  68 Del. Laws, c. 389, §  5;  70 Del. Laws, c. 186, §  1;  71 Del. Laws, c. 19, §§  10, 18;
5 DE Code § 3408. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 34. Preneed Funeral Contracts|§ 3408. Periodic report requirements.

§ 3408. Periodic report requirements. A licensee shall file with the Commissioner such reports at such time as the Commissioner may require. Any reports required by the Commissioner under this section shall be in such form and shall contain such information as the Commissioner may specify. 68 Del. Laws, c. 303, §  10;  71 Del. Laws, c. 19, §  10;
5 DE Code § 3409. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 34. Preneed Funeral Contracts|§ 3409. State Bank Commissioner to enforce law and establish rules and regulations.

§ 3409. State Bank Commissioner to enforce law and establish rules and regulations. The Commissioner shall enforce this chapter and has the power to make investigations, subpoena witnesses, require audits and reports and conduct hearings as to violations of any provision, and to establish such rules and regulations as are necessary to carry out this chapter. 24 Del. C. 1953, §  3127;  58 Del. Laws, c. 415, §  2;  63 Del. Laws, c. 145, §  1;  68 Del. Laws, c. 303, §  10;  68 Del. Laws, c. 389, §  5;  71 Del. Laws, c. 19, §  10;
5 DE Code § 3410. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 34. Preneed Funeral Contracts|§ 3410. Penalty.

§ 3410. Penalty. Any person wilfully violating this chapter shall be fined not less than $500 nor more than $1,000. 24 Del. C. 1953, §  3126;  58 Del. Laws, c. 415, §  2;  63 Del. Laws, c. 145, §  1;  68 Del. Laws, c. 303, §  10;  68 Del. Laws, c. 389, §  5;  71 Del. Laws, c. 19, §  10;
5 DE Code § 5001. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 50. Payment Networks|§ 5001. “Payment network” defined.

§ 5001. “Payment network” defined. The term “payment network” as used in this chapter means a nonstock member corporation incorporated under Title 8 which has 50 percent or more of its members organized as:  (1) Banks, thrifts, credit unions or other financial institutions, under the laws of this State, any other state, the laws of a foreign country, the United States of America, a territory of the United States, Puerto Rico, Guam, American Samoa or the Virgin Islands; or (2) Organizations whose direct or indirect owners or members are financial institutions described in paragraph (1) of this section above, and which has as its principal business the provision of payment network services.75 Del. Laws, c. 233, §  1;
5 DE Code § 5002. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 50. Payment Networks|§ 5002. Voting rights of members and selection of governing body.

§ 5002. Voting rights of members and selection of governing body. Notwithstanding any other provision of the laws of this State contained in Title 8 or elsewhere:  (1) Unless otherwise provided in the certificate of incorporation of a payment network, or, if the certificate of incorporation so provides, in its bylaws, each member shall be entitled at every meeting of members to 1 vote in person or by proxy; (2) The election, appointment or designation of the members of the governing body of a payment network, including the voting rights of members and rights of persons other than members with respect to election, appointment or designation of the members of the governing body, shall be as provided in its bylaws, its certificate of incorporation, or both; and (3) Any member action or corporate action with respect to the election, appointment or designation of the members of the governing body of a payment network from and after its date of incorporation taken pursuant to the provisions of its bylaws, its certificate of incorporation, or both, shall be deemed as having been taken under and shall be governed by this section.75 Del. Laws, c. 233, §  1;
5 DE Code § 5003. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 50. Payment Networks|§ 5003. Regulatory authority not created.

§ 5003. Regulatory authority not created. This chapter shall not subject a payment network not otherwise regulated by the State Bank Commissioner to any regulation by the State Bank Commissioner. 75 Del. Laws, c. 233, §  1;
6 DE Code § 5-101. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 5. Letters of Credit|§ 5-101. Short title.

§ 5-101. Short title. This Article may be cited as Uniform Commercial Code — Letters of Credit. 5A Del. C. 1953, §§  5-101;  55 Del. Laws, c. 349;  71 Del. Laws, c. 393, §  1;
6 DE Code § 5-103. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 5. Letters of Credit|§ 5-103. Scope.

§ 5-103. Scope. (a) This Article applies to letters of credit and to certain rights and obligations arising out of transactions involving letters of credit. (b) The statement of a rule in this Article does not by itself require, imply, or negate application of the same or a different rule to a situation not provided for, or to a person not specified, in this Article. (c) With the exception of this subsection, subsections (a) and (d), Sections 5-102(a)(9) and (10), 5-106(d), and 5-114(d), and except to the extent prohibited in Sections 1-302 and 5-117(d), the effect of this Article may be varied by agreement or by a provision stated or incorporated by reference in an undertaking. A term in an agreement or undertaking generally excusing liability or generally limiting remedies for failure to perform obligations is not sufficient to vary obligations prescribed by this Article. (d) Rights and obligations of an issuer to a beneficiary or a nominated person under a letter of credit are independent of the existence, performance, or nonperformance of a contract or arrangement out of which the letter of credit arises or which underlies it, including contracts or arrangements between the issuer and the applicant and between the applicant and the beneficiary. 5A Del. C. 1953, §§  5-102;  55 Del. Laws, c. 349;  71 Del. Laws, c. 393, §  1;  74 Del. Laws, c. 332, §  38;
6 DE Code § 5-104. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 5. Letters of Credit|§ 5-104. Formal requirements.

§ 5-104. Formal requirements. A letter of credit, confirmation, advice, transfer, amendment, or cancellation may be issued in any form that is a record and is authenticated (i) by a signature or (ii) in accordance with the agreement of the parties or the standard practice referred to in Section 5-108(e). 5A Del. C. 1953, §§  5-104;  55 Del. Laws, c. 349;  71 Del. Laws, c. 393, §  1;
6 DE Code § 5-105. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 5. Letters of Credit|§ 5-105. Consideration.

§ 5-105. Consideration. Consideration is not required to issue, amend, transfer, or cancel a letter of credit, advice, or confirmation. 5A Del. C. 1953, §§  5-105;  55 Del. Laws, c. 349;  71 Del. Laws, c. 393, §  1;
6 DE Code § 5-106. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 5. Letters of Credit|§ 5-106. Issuance, amendment, cancellation, and duration.

§ 5-106. Issuance, amendment, cancellation, and duration. (a) A letter of credit is issued and becomes enforceable according to its terms against the issuer when the issuer sends or otherwise transmits it to the person requested to advise or to the beneficiary. A letter of credit is revocable only if it so provides. (b) After a letter of credit is issued, rights and obligations of a beneficiary, applicant, confirmer, and issuer are not affected by an amendment or cancellation to which that person has not consented except to the extent the letter of credit provides that it is revocable or that the issuer may amend or cancel the letter of credit without that consent. (c) If there is no stated expiration date or other provision that determines its duration, a letter of credit expires one year after its stated date of issuance or, if none is stated, after the date on which it is issued. (d) A letter of credit that states that it is perpetual expires five years after its stated date of issuance, or if none is stated, after the date on which it is issued. 5A Del. C. 1953, §§  5-106;  55 Del. Laws, c. 349;  71 Del. Laws, c. 393, §  1;
6 DE Code § 5-107. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 5. Letters of Credit|§ 5-107. Confirmer, nominated person, and adviser.

§ 5-107. Confirmer, nominated person, and adviser. (a) A confirmer is directly obligated on a letter of credit and has the rights and obligations of an issuer to the extent of its confirmation. The confirmer also has rights against and obligations to the issuer as if the issuer were an applicant and the confirmer had issued the letter of credit at the request and for the account of the issuer. (b) A nominated person who is not a confirmer is not obligated to honor or otherwise give value for a presentation. (c) A person requested to advise may decline to act as an adviser. An adviser that is not a confirmer is not obligated to honor or give value for a presentation. An adviser undertakes to the issuer and to the beneficiary accurately to advise the terms of the letter of credit, confirmation, amendment, or advice received by that person and undertakes to the beneficiary to check the apparent authenticity of the request to advise. Even if the advice is inaccurate, the letter of credit, confirmation, or amendment is enforceable as issued. (d) A person who notifies a transferee beneficiary of the terms of a letter of credit, confirmation, amendment, or advice has the rights and obligations of an adviser under subsection (c). The terms in the notice to the transferee beneficiary may differ from the terms in any notice to the transferor beneficiary to the extent permitted by the letter of credit, confirmation, amendment, or advice received by the person who so notifies. 5A Del. C. 1953, §§  5-107;  55 Del. Laws, c. 349;  71 Del. Laws, c. 393, §  1;
6 DE Code § 5-109. (2021)
2021 Delaware Code|Title 6 - Commerce and Trade|Article 5. Letters of Credit|§ 5-109. Fraud and forgery.

§ 5-109. Fraud and forgery. (a) If a presentation is made that appears on its face strictly to comply with the terms and conditions of the letter of credit, but a required document is forged or materially fraudulent, or honor of the presentation would facilitate a material fraud by the beneficiary on the issuer or applicant:  (1) the issuer shall honor the presentation, if honor is demanded by (i) a nominated person who has given value in good faith and without notice of forgery or material fraud, (ii) a confirmer who has honored its confirmation in good faith, (iii) a holder in due course of a draft drawn under the letter of credit which was taken after acceptance by the issuer or nominated person, or (iv) an assignee of the issuer's or nominated person's deferred obligation that was taken for value and without notice of forgery or material fraud after the obligation was incurred by the issuer or nominated person; and (2) the issuer, acting in good faith, may honor or dishonor the presentation in any other case. (b) If an applicant claims that a required document is forged or materially fraudulent or that honor of the presentation would facilitate a material fraud by the beneficiary on the issuer or applicant, a court of competent jurisdiction may temporarily or permanently enjoin the issuer from honoring a presentation or grant similar relief against the issuer or other persons only if the court finds that:  (1) the relief is not prohibited under the law applicable to an accepted draft or deferred obligation incurred by the issuer; (2) a beneficiary, issuer, or nominated person who may be adversely affected is adequately protected against loss that it may suffer because the relief is granted; (3) all of the conditions to entitle a person to the relief under the law of this State have been met; and (4) on the basis of the information submitted to the court, the applicant is more likely than not to succeed under its claim of forgery or material fraud and the person demanding honor does not qualify for protection under subsection (a)(1).71 Del. Laws, c. 393, §  1;