reglab/statecodes huggingface dataset:
2023 Delaware Code › Title 5 - Banking › Chapter 8. ACQUISITION OF INTERESTS IN BANKING INSTITUTIONS; BANK HOLDING COMPANIES › Subchapter III. Acquisition of Delaware Savings Banks › § 836. Powers of an acquired, savings bank.

§ 836. Powers of an acquired, savings bank.
Nothing contained in this chapter shall be construed as abridging the rights, powers and authorities granted to any Delaware savings bank required under its charter, the provisions of this title, or any other current, former or future law of the State or the United States governing the formation, conversion, merger, corporate powers, branching, operation or dissolution of a Delaware savings bank.
66 Del. Laws, c. 33, §  3;  70 Del. Laws, c. 327, §  24;  71 Del. Laws, c. 25, §  31;
2023 Delaware Code › Title 5 - Banking › Chapter 8. ACQUISITION OF INTERESTS IN BANKING INSTITUTIONS; BANK HOLDING COMPANIES › Subchapter III. Acquisition of Delaware Savings Banks › § 837. Scope; construction.

§ 837. Scope; construction.
This subchapter deals with the conditions under which out-of-state savings institutions, out-of-state savings and loan holding companies and out-of-state bank holding companies may acquire a Delaware savings bank or a Delaware savings and loan holding company; it shall not be construed to have any applicability to Part III of this title relating to building and loan associations nor to constitute any authority for the acquisition of Delaware building and loan associations.
66 Del. Laws, c. 33, §  3;
2023 Delaware Code › Title 5 - Banking › Chapter 8. ACQUISITION OF INTERESTS IN BANKING INSTITUTIONS; BANK HOLDING COMPANIES › Subchapter IV. Acquisition of Stock in Delaware Banks and Bank Holding Companies › § 841. Title.

§ 841. Title.
This subchapter may be cited as “The Delaware Interstate Banking Act.”
66 Del. Laws, c. 32, §  1;  70 Del. Laws, c. 112, §  28;
2023 Delaware Code › Title 5 - Banking › Chapter 8. ACQUISITION OF INTERESTS IN BANKING INSTITUTIONS; BANK HOLDING COMPANIES › Subchapter IV. Acquisition of Stock in Delaware Banks and Bank Holding Companies › § 843. Acquisition authority.

§ 843. Acquisition authority.
(a) An out-of-state bank holding company or subsidiary thereof may acquire or retain ownership or control of a bank or bank holding company located in Delaware; provided, that the out-of-state bank holding company makes application under and at all times complies with all regulations, decrees, cooperative agreements and orders duly promulgated by the Commissioner with respect to both the implementation of this subchapter generally, and the operations of such bank holding company and the bank which it acquires specifically; and further provided that, except as otherwise provided in this title, no out-of-state bank holding company or any subsidiary thereof may acquire or retain ownership or control of either a bank located in Delaware created before September 29, 1995, that is not an existing bank or a bank holding company that owns or controls such bank.
(b) The Commissioner may approve an acquisition, in accordance with subsection (a) of this section, even though the out-of-state bank holding company, or any subsidiary thereof, that acquires a bank or bank holding company located in Delaware, would control, together with any affiliated insured depository institution (as defined in the Federal Deposit Insurance Act at 12 U.S.C. § 1813(c)), 30 percent or more of the total amount of deposits of insured depository institutions in this State. In determining whether to approve an acquisition pursuant to this subsection (b), the Commissioner shall consider the convenience and needs of the public of this State.
(c) Except as otherwise provided in this title or by applicable law of the United States, no out-of-state bank holding company or subsidiary thereof may acquire or retain ownership or control of a bank or bank holding company located in Delaware.
66 Del. Laws, c. 32, §  1;  70 Del. Laws, c. 112, §§  32-34;
2023 Delaware Code › Title 5 - Banking › Chapter 8. ACQUISITION OF INTERESTS IN BANKING INSTITUTIONS; BANK HOLDING COMPANIES › Subchapter IV. Acquisition of Stock in Delaware Banks and Bank Holding Companies › § 844. Application process.

§ 844. Application process.
(a) An out-of-state bank holding company shall make application to acquire a bank or bank holding company located in this State which owns or controls a bank upon such forms and in accordance with such regulations and rulings as are promulgated from time to time by the Commissioner. Such application shall designate a resident of this State as applicant's agent for the service of any paper, notice or legal process upon applicant in connection with matters arising out of this subchapter and shall be accompanied by a nonrefundable filing fee in the amount of $5,750 for the use of the State and a nonrefundable processing fee in such amount as the Commissioner shall from time to time fix by regulation, payable to and for the use of the Office of the Bank Commissioner.
(b) Following publication, notice and hearing in the manner prescribed by the Commissioner, the Commissioner shall approve or disapprove an application by an out-of-state bank holding company to own or control a bank or a bank holding company located in this State upon a determination of whether such an acquisition will serve the public convenience and advantage. As part of such determination, but not by way of limitation, the Commissioner shall consider the following criteria:
(1) Whether the acquisition will, based upon the managerial and financial resources, financial history and business plan of the applicant, adversely affect the safe and sound operation of the bank or any other bank located in this State which is owned or controlled by the bank holding company;
(2) Whether the acquisition will adversely affect the quantity or quality of banking services available to 1 or more communities served by the bank prior to the acquisition;
(3) Whether, as a result of a prior or simultaneous acquisition of another bank, the acquisition of the bank will result in an undue concentration of resources or a substantial lessening of competition in this State; and
(4) Whether the acquisition will foster economic development and the financing of business enterprises to the end that employment opportunities will either be increased or, where there is a prospect for a reduction, retained.
(c) In conjunction with the approval of any application filed under this section, the Commissioner may require as a condition of such approval that the out-of-state bank holding company enter into a cooperative agreement binding it to such special terms and conditions regarding its operations and its maintenance and preservation of the capital and assets in Delaware of the bank as the Commissioner shall deem to be necessary to assure that the acquisition serves the public convenience and advantage.
66 Del. Laws, c. 32, §  1;  68 Del. Laws, c. 303, §  18;  70 Del. Laws, c. 112, §§  35-37;
2023 Delaware Code › Title 5 - Banking › Chapter 8. ACQUISITION OF INTERESTS IN BANKING INSTITUTIONS; BANK HOLDING COMPANIES › Subchapter IV. Acquisition of Stock in Delaware Banks and Bank Holding Companies › § 845. Duties and powers of Commissioner.

§ 845. Duties and powers of Commissioner.
In order to effectuate the provisions of this subchapter, the Commissioner shall, in addition to exercising the authority provided in §§ 844 and 846 of this title:
(1) Adopt and issue such regulations, decrees, orders, rulings and forms, and enter into such cooperative agreements with out-of-state bank holding companies, as the Commissioner deems to be necessary and proper;
(2) Require by negotiation, administrative order or cooperative agreement the maintenance and production of such documents and reports, the periodic conduct of such examinations, and otherwise supervise and govern the activities of the out-of-state bank holding companies as the Commissioner deems necessary and proper;
(3) Have the authority to examine any out-of-state bank holding company owning a bank. The Commissioner may require reports of each out-of-state bank holding company subject to this subchapter. Such report shall be filed under oath with such frequency and in such scope and detail as may be appropriate for the purpose of assuring continuing compliance with this subchapter and the safety and soundness of the bank;
(4) Prior to approving the acquisition of the bank or bank holding company located in Delaware by an out-of-state bank holding company, the Commissioner may enter into cooperative agreements with the appropriate regulatory authorities for the periodic examination of any out-of-state bank holding company that has a bank subsidiary or bank holding company located in Delaware or any subsidiary of such holding company, and may accept reports of examination and other records from such authorities in lieu of conducting the Commissioner's own examination. The Commissioner may enter into joint actions with other regulatory authorities having concurrent jurisdiction over any out-of-state bank holding company that owns or controls a bank or bank holding company subsidiary or may take such actions independently to carry out the responsibilities under this subchapter to assure the safety and soundness of any bank and to assure compliance with this subchapter and applicable Delaware banking laws.
66 Del. Laws, c. 32, §  1;  70 Del. Laws, c. 112, §  38;  70 Del. Laws, c. 186, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 8. ACQUISITION OF INTERESTS IN BANKING INSTITUTIONS; BANK HOLDING COMPANIES › Subchapter IV. Acquisition of Stock in Delaware Banks and Bank Holding Companies › § 846. Divestiture.

§ 846. Divestiture.
Upon the Commissioner's determination that an out-of-state bank holding company is in violation of the requirements of this subchapter or any order, regulation, ruling, cooperative agreement or decree issued or entered into by the Commissioner or any order of a court of competent jurisdiction, or is otherwise operating a bank in an unsafe and unsound manner, the Commissioner shall have the authority to order such out-of-state bank holding company or subsidiary thereof to remedy such violation by a date certain, or to cease and desist from operating in an unsafe and unsound manner, in default of which the Commissioner shall have the authority to order such out-of-state bank holding company or subsidiary thereof to divest itself of any shares or assets of any bank located in this State. The procedure governing such divestiture, and the authority of the Commissioner to enforce an order directing the same, shall be the same as provided in § 807(b)—(d) of this title.
66 Del. Laws, c. 32, §  1;  70 Del. Laws, c. 112, §  39;
2023 Delaware Code › Title 5 - Banking › Chapter 8. ACQUISITION OF INTERESTS IN BANKING INSTITUTIONS; BANK HOLDING COMPANIES › Subchapter IV. Acquisition of Stock in Delaware Banks and Bank Holding Companies › § 847. Powers of an acquired bank.

§ 847. Powers of an acquired bank.
Except as to subchapter I of this chapter, nothing contained in this chapter shall be construed as abridging the rights, powers and authorities granted to any bank acquired under any subchapter of this chapter by its charter, the provisions of this title or any other current, former or future law of the State governing the formation, conversion, merger, corporate powers, branching, operation or dissolution of a bank.
66 Del. Laws, c. 32, §  1;  70 Del. Laws, c. 112, §§  40-42;
2023 Delaware Code › Title 5 - Banking › Chapter 8. ACQUISITION OF INTERESTS IN BANKING INSTITUTIONS; BANK HOLDING COMPANIES › Subchapter V. Regulation of Delaware Bank Holding Companies › § 851. Definitions.

§ 851. Definitions.
As used in this subchapter:
(1) “Bank holding company” means a company, as defined by the federal Bank Holding Company Act of 1956 (12 U.S.C. § 1841 et seq.), which is or becomes a bank holding company within the provisions of the federal act including, without limitation, its provisions for determining what constitutes control.
(2) “Institution” means a national bank whose principal place of business is located in Delaware or a Delaware-chartered bank or bank and trust company.
(3) “Delaware bank holding company” means a bank holding company with bank subsidiaries whose operations are principally conducted in Delaware. For the purposes of this subchapter, the operations of a bank holding company's subsidiaries are principally located in this State if the total deposits of all such subsidiaries in this State are greater than in any other state.
66 Del. Laws, c. 25, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 8. ACQUISITION OF INTERESTS IN BANKING INSTITUTIONS; BANK HOLDING COMPANIES › Subchapter V. Regulation of Delaware Bank Holding Companies › § 852. Becoming a bank holding company.

§ 852. Becoming a bank holding company.
(a) Except as provided in 12 U.S.C. § 1842, subchapters I, II, III and IV of this chapter, and Chapter 7 of this title, no bank holding company other than a Delaware bank holding company may control a Delaware institution.
(b) Any corporation intending to become a Delaware bank holding company shall file an application with the Commissioner for approval to acquire an institution. The application shall contain such information as the Commissioner may by regulation require, shall, if not a Delaware corporation, designate a resident of the State as the applicant's agent for the service of any paper, notice of legal process on the applicant in connection with matters arising out of this subchapter and shall be accompanied by a filing fee in the amount of $5,750 for the use of the State and a nonrefundable processing fee in such amount as the Commissioner shall from time to time fix by regulation, payable to and for the use of the Office of the Bank Commissioner.
(c) In determining whether or not to approve such acquisition by a Delaware bank holding company, the Commissioner shall consider:
(1) The financial and the managerial resources of the Delaware bank holding company;
(2) The future prospects of the bank holding company and the bank whose assets or shares it will acquire;
(3) The financial history of the bank holding company;
(4) Whether such acquisition or holding may result in undue concentration of resources or substantial lessening of competition within this State; and
(5) The convenience and needs of the public of this State.
66 Del. Laws, c. 25, §  1;  68 Del. Laws, c. 303, §  19;  70 Del. Laws, c. 112, §  43;  71 Del. Laws, c. 19, §  37;
2023 Delaware Code › Title 5 - Banking › Chapter 8. ACQUISITION OF INTERESTS IN BANKING INSTITUTIONS; BANK HOLDING COMPANIES › Subchapter V. Regulation of Delaware Bank Holding Companies › § 854. Reports.

§ 854. Reports.
A Delaware bank holding company shall file with the Commissioner upon the Commissioner's request copies of all regular and periodic reports which a bank holding company is required to file under the federal Bank Holding Company Act of 1956 [12 U.S.C. § 1841 et seq.] or under § 13 or § 15(d) of the Securities and Exchange Act of 1934, as amended [15 U.S.C. § 78m or § 78o(d)], but excluding any portions not available to the public.
66 Del. Laws, c. 25, §  1;  70 Del. Laws, c. 112, §  44;
2023 Delaware Code › Title 5 - Banking › Chapter 8. ACQUISITION OF INTERESTS IN BANKING INSTITUTIONS; BANK HOLDING COMPANIES › Subchapter V. Regulation of Delaware Bank Holding Companies › § 855. Supervision and examination.

§ 855. Supervision and examination.
The Commissioner shall have supervision over all Delaware bank holding companies and shall have the right to examine all such companies, including their nonbank subsidiaries. The costs of the examination shall be assessed against and paid by the company in an amount to be set by regulation of the Commissioner. The examination authorized by this section shall be conducted jointly, concurrently or in lieu of examinations made by a federal bank regulatory agency. The Commissioner shall use, to the extent deemed feasible, filings and reports made by the company to federal or other State bank regulatory authority pursuant to a written agreement providing for the exchange of reports of examination between the Commissioner and the federal or other State bank regulatory authority.
66 Del. Laws, c. 25, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 8. ACQUISITION OF INTERESTS IN BANKING INSTITUTIONS; BANK HOLDING COMPANIES › Subchapter V. Regulation of Delaware Bank Holding Companies › § 856. Nonexclusivity.

§ 856. Nonexclusivity.
Nothing in this subchapter or any law of this State shall be deemed to prohibit or limit a Delaware bank holding company from acquiring a bank or bank holding company located in any jurisdiction which acquisition is otherwise permitted by applicable law of the United States and any state.
66 Del. Laws, c. 25, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 8. ACQUISITION OF INTERESTS IN BANKING INSTITUTIONS; BANK HOLDING COMPANIES › Subchapter V. Regulation of Delaware Bank Holding Companies › § 857. Bank Commissioner cooperative agreements.

§ 857. Bank Commissioner cooperative agreements.
Prior to approving the acquisition by any Delaware bank holding company of any bank located in another state or bank holding company, the Commissioner may enter into cooperative agreements with the appropriate regulatory authorities for the periodic examinations of any out-of-state bank holding company or bank acquired by a Delaware bank holding company and may accept reports of examination and other records from such authorities in lieu of conducting the Commissioner's own examination. The Commissioner may enter into joint actions with other regulatory authorities having concurrent jurisdiction over any out-of-state bank holding company or bank acquired by a Delaware bank holding company or may take such actions independently to carry out the Commissioner's responsibilities under this subchapter to assure the safety and soundness of any Delaware bank and to assure compliance with applicable Delaware banking laws.
66 Del. Laws, c. 25, §  1;  84 Del. Laws, c. 42, § 59;
2023 Delaware Code › Title 5 - Banking › Chapter 8. ACQUISITION OF INTERESTS IN BANKING INSTITUTIONS; BANK HOLDING COMPANIES › Subchapter VI. Regulation of Delaware Savings and Loan Holding Companies › § 861. Definitions.

§ 861. Definitions.
As used in this subchapter:
(1) “Delaware savings and loan holding company” means a savings and loan holding company (as defined in the Home Owners' Loan Act, as amended, at 12 U.S.C. § 1467a) located in Delaware that owns or controls a Delaware savings bank.
(2) “Delaware savings bank” means a savings bank organized and existing under the laws of this State that is not a bank as defined in § 2(c) of the Bank Holding Company Act of 1956, as amended, 12 U.S.C. § 1841(c).
(3) “Located” has the meaning specified in § 831 of this title.
71 Del. Laws, c. 25, §  32;
2023 Delaware Code › Title 5 - Banking › Chapter 8. ACQUISITION OF INTERESTS IN BANKING INSTITUTIONS; BANK HOLDING COMPANIES › Subchapter VI. Regulation of Delaware Savings and Loan Holding Companies › § 862. Becoming a Delaware savings and loan holding company.

§ 862. Becoming a Delaware savings and loan holding company.
(a) Any corporation intending to become a Delaware savings and loan holding company shall file an application with the Commissioner for approval to acquire a Delaware savings bank. The application shall contain such information as the Commissioner may by regulation require, shall, if not a Delaware corporation, designate a resident of the State as the applicant's agent for the service of any paper or notice of legal process on the applicant in connection with matters arising out of this subchapter and shall be accompanied by a filing fee in the amount of $5,750 for the use of the State and a nonrefundable investigation fee in such amount as the Commissioner shall from time to time fix by regulation, payable to and for the use of the office of the Bank Commissioner.
(b) In determining whether or not to approve such acquisition by a Delaware savings and loan holding company, the Commissioner shall consider:
(1) The financial and the managerial resources of the Delaware savings and loan holding company;
(2) The future prospects of the Delaware savings and loan holding company and the Delaware savings bank whose assets or shares it will acquire;
(3) The financial history of the Delaware savings and loan holding company;
(4) Whether such acquisition or holding may result in undue concentration of resources or substantial lessening of competition within this State; and
(5) The convenience and needs of the public of this State.
71 Del. Laws, c. 25, §  32;
2023 Delaware Code › Title 5 - Banking › Chapter 8. ACQUISITION OF INTERESTS IN BANKING INSTITUTIONS; BANK HOLDING COMPANIES › Subchapter VI. Regulation of Delaware Savings and Loan Holding Companies › § 863. Reports.

§ 863. Reports.
A Delaware savings and loan holding company shall file with the Commissioner, upon the Commissioner's request, copies of all regular and periodic reports which a savings and loan holding company is required to file under the Home Owners' Loan Act, as amended [12 U.S.C. § 1461 et seq.] or under § 13 or § 15(d) of the Securities and Exchange Act of 1934, as amended [15 U.S.C. § 78m or § 78o(d)], but excluding any portions not available to the public.
71 Del. Laws, c. 25, §  32;
2023 Delaware Code › Title 5 - Banking › Chapter 8. ACQUISITION OF INTERESTS IN BANKING INSTITUTIONS; BANK HOLDING COMPANIES › Subchapter VI. Regulation of Delaware Savings and Loan Holding Companies › § 864. Supervision and examination.

§ 864. Supervision and examination.
The Commissioner shall have supervision over all Delaware savings and loan holding companies and shall have the right to examine all such companies, including their nonbank subsidiaries. The costs of the examination shall be assessed against and paid by the company in an amount to be set by regulation of the Commissioner. The examination authorized by this section may be conducted jointly, concurrently or in lieu of examinations made by a federal bank regulatory agency. The Commissioner may use, to the extent deemed feasible, filings and reports made by the company to federal or other State bank regulatory authority pursuant to a written agreement providing for the exchange of reports of examination between the Commissioner and the federal or other State bank regulatory authority.
71 Del. Laws, c. 25, §  32;
2023 Delaware Code › Title 5 - Banking › Chapter 8. ACQUISITION OF INTERESTS IN BANKING INSTITUTIONS; BANK HOLDING COMPANIES › Subchapter VI. Regulation of Delaware Savings and Loan Holding Companies › § 865. Nonexclusivity.

§ 865. Nonexclusivity.
Nothing in this subchapter or any law of this State shall be deemed to prohibit or limit a Delaware savings and loan holding company from making an acquisition that is otherwise permitted by applicable law of the United States and any state.
71 Del. Laws, c. 25, §  32;
2023 Delaware Code › Title 5 - Banking › Chapter 8. ACQUISITION OF INTERESTS IN BANKING INSTITUTIONS; BANK HOLDING COMPANIES › Subchapter VI. Regulation of Delaware Savings and Loan Holding Companies › § 866. Bank Commissioner cooperative agreements.

§ 866. Bank Commissioner cooperative agreements.
The Commissioner may enter into cooperative agreements or joint actions with other regulatory authorities to carry out the Commissioner's responsibilities under this subchapter and to assure the safety and soundness of any Delaware savings bank and to assure compliance with applicable Delaware banking laws.
71 Del. Laws, c. 25, §  32;  70 Del. Laws, c. 186, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 9. REGULATIONS GOVERNING BUSINESS OF BANKS AND TRUST COMPANIES › Subchapter I. General Provisions › § 901. Corporate charter to do business as bank or trust company.

§ 901. Corporate charter to do business as bank or trust company.
No banking business or the business of a trust company shall be conducted within this State except under a corporate charter valid in this State authorizing the conduct of such business in this State.
32 Del. Laws, c. 103, §  2;  Code 1935, §  2290;  5 Del. C. 1953, §  901;
2023 Delaware Code › Title 5 - Banking › Chapter 9. REGULATIONS GOVERNING BUSINESS OF BANKS AND TRUST COMPANIES › Subchapter I. General Provisions › § 902. Certificate required to transact business or open place of business.

§ 902. Certificate required to transact business or open place of business.
No bank or trust company not actively engaged in business in this State prior to January 1, 1933, shall transact any business in this State or open a place of business in this State without having first secured from the State Bank Commissioner a certificate authorizing it to begin the transaction of business and to open a place of business in this State.
32 Del. Laws, c. 103, §§  3, 22;  38 Del. Laws, c. 93, §  1(8);  Code 1935, §§  2291, 2310;  5 Del. C. 1953, §  902;
2023 Delaware Code › Title 5 - Banking › Chapter 9. REGULATIONS GOVERNING BUSINESS OF BANKS AND TRUST COMPANIES › Subchapter I. General Provisions › § 903. Issuance of certificate to transact business.

§ 903. Issuance of certificate to transact business.
(a) The Commissioner shall not give any certificate required by § 902 of this title until satisfied by proper evidence that all the requirements of the charter of the corporation applying for the certificate and all the requirements of this Code and any other laws of this State applicable to such a case have been complied with and that the whole capital stock has been fully paid in cash, unless the charter shall expressly provide otherwise.
(b) No certificate shall be issued until the corporation has filed with the Commissioner a duly certified copy of its charter and all amendments thereof, and a copy of its bylaws; and thereafter the corporation shall file with the Commissioner a duly certified copy of every subsequent amendment of its charter and of every subsequent amendment of its bylaws and a failure to file within 30 days after any amendment of its charter or bylaws has been effected, shall render the corporation liable to a penalty of $50 to be sued for by the Commissioner in the name of the State if the Commissioner considers such failure to have been wilful.
(c) A fee of $5,750 for every certificate shall be required by the Commissioner before issuing the same.
(d) In addition, the applicant shall pay an investigation fee of $1,150 which shall not be refundable and shall be submitted with the application.
32 Del. Laws, c. 103, §§  3, 22;  38 Del. Laws, c. 93, §  1(8);  Code 1935, §§  2291, 2310;  5 Del. C. 1953, §  903;  62 Del. Laws, c. 247, §§  1, 2;  68 Del. Laws, c. 303, §  20;  70 Del. Laws, c. 186, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 9. REGULATIONS GOVERNING BUSINESS OF BANKS AND TRUST COMPANIES › Subchapter I. General Provisions › § 904. Reports to Commissioner.

§ 904. Reports to Commissioner.
(a) Every bank and trust company shall make and transmit to the State Bank Commissioner at least 4 reports during each year, according to the form which may be prescribed by the Commissioner, verified by the oaths or affirmations of the president or vice-president, and cashier, or treasurer or secretary of the corporation, and attested by the signatures of at least 2 directors. Each report shall exhibit under appropriate heads the resources and liabilities of the corporation at the close of business on any day past specified by the Commissioner, and shall be transmitted to the Commissioner within 30 days after the receipt of a request or requisition therefor.
(b) The Commissioner shall have power to call for special reports whenever in the Commissioner's judgment the same are necessary. The Commissioner may require a separate report as to each department or subsidiary of any bank or trust company.
(c) The making of reports to the Commissioner under this section shall be in lieu of the making of reports to any other state official except for the purpose of assessment or taxation.
32 Del. Laws, c. 103, §  7;  Code 1935, §  2295;  5 Del. C. 1953, §  904;  61 Del. Laws, c. 82, §  1;  66 Del. Laws, c. 27, §  8;  70 Del. Laws, c. 112, §  45;  70 Del. Laws, c. 186, §  1;  71 Del. Laws, c. 19, §§  39, 40;
2023 Delaware Code › Title 5 - Banking › Chapter 9. REGULATIONS GOVERNING BUSINESS OF BANKS AND TRUST COMPANIES › Subchapter I. General Provisions › § 905. Reports by national banks, federal savings associations and out-of-state banks.

§ 905. Reports by national banks, federal savings associations and out-of-state banks.
National banks, out-of-state banks (as defined in § 795 of this title) having one or more branch offices in this State, and federal savings associations (as defined in the Home Owners' Loan Act, as amended, 12 U.S.C. § 1461 et seq.) doing business in this State shall make and transmit to the State Bank Commissioner reports according to the form which may be prescribed by the Commissioner when the Commissioner calls upon such banks for the reports; the object and purpose of such reports being the public good and not the regulation of said banks. The Commissioner shall have power to call for special reports whenever in the Commissioner's judgment the same are necessary.
32 Del. Laws, c. 103, §  7;  Code 1935, §  2295;  5 Del. C. 1953, §  905;  70 Del. Laws, c. 112, §§  46, 47;  70 Del. Laws, c. 186, §  1;  71 Del. Laws, c. 254, §  13;
2023 Delaware Code › Title 5 - Banking › Chapter 9. REGULATIONS GOVERNING BUSINESS OF BANKS AND TRUST COMPANIES › Subchapter I. General Provisions › § 906. Failure to make reports; penalty.

§ 906. Failure to make reports; penalty.
Every bank or trust company failing to comply with §§ 904 and 905 of this title shall be subject to a penalty of $25 for each day that it continues in such failure; unless the Commissioner is satisfied that such failure was not wilful. Any penalty that may be imposed by the Commissioner hereunder shall be paid to the State Treasurer for deposit in the General Fund.
32 Del. Laws, c. 103, §  7;  Code 1935, §  2295;  5 Del. C. 1953, §  906;  70 Del. Laws, c. 6, §§  3, 4;
2023 Delaware Code › Title 5 - Banking › Chapter 9. REGULATIONS GOVERNING BUSINESS OF BANKS AND TRUST COMPANIES › Subchapter I. General Provisions › § 908. Value at which assets shall be carried on books.

§ 908. Value at which assets shall be carried on books.
No bank or trust company shall carry on its books any of its assets at a sum in excess of the cost value thereof except by and with the written consent of the State Bank Commissioner.
32 Del. Laws, c. 103, §  11;  Code 1935, §  2299;  5 Del. C. 1953, §  908;
2023 Delaware Code › Title 5 - Banking › Chapter 9. REGULATIONS GOVERNING BUSINESS OF BANKS AND TRUST COMPANIES › Subchapter I. General Provisions › § 908A. Bank distinct from bank insurance department or division.

§ 908A. Bank distinct from bank insurance department or division.
The assets of any bank or trust company shall be liable for and applicable to the payment and satisfaction of the liabilities, obligations and expenses of such bank or trust company only, and not to those liabilities, obligations and expenses of any insurance department or division of such bank or trust company established pursuant to § 767(a) or § 1662(b)(1) of this title. The liabilities, obligations and expenses of any such bank or trust company shall be applied against and paid and satisfied out of the assets of such bank or trust company only, and not out of the assets of any insurance department or division of such bank or trust company established pursuant to § 767(a) or § 1662(b)(1) of this title.
67 Del. Laws, c. 223, §  8;  71 Del. Laws, c. 25, §  33;
2023 Delaware Code › Title 5 - Banking › Chapter 9. REGULATIONS GOVERNING BUSINESS OF BANKS AND TRUST COMPANIES › Subchapter I. General Provisions › § 910. Investment limitations.

§ 910. Investment limitations.
No bank or trust company shall invest more than 25 percent of its total capital, surplus and undivided profits in the stock, bonds or other obligations of any 1 corporation or political entity or political division except bonds or other obligations of or guaranteed by the United States or any agency or instrumentality thereof including, without limitation, obligations of the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation and public housing authorities, or obligations of the State or its municipalities, subdivisions, agencies or instrumentalities; provided, that:
(1) The limitation on investment in this section shall not apply to the investment by a bank or trust company in 1 or more subsidiaries;
(2) The underwriting of or dealing in stocks, bonds, debentures, notes or other securities, or certificates of deposit or bankers' acceptances, shall not constitute an investment within the meaning of this section;
(3) No bank or trust company which engages in activities authorized by § 761(a)(14) or § 1661(a)(14) of this title through subsidiaries or divisions shall initially allocate more than 25 percent of its total capital, surplus and undivided profits in the aggregate to all such subsidiaries or divisions, or shall thereafter allocate to all such subsidiaries or divisions (i) in any 1 year, without the approval of the Commissioner, any amount in excess of 3 percent of its total capital, surplus and undivided profits or (ii) in any event, any amount in excess of 25 percent of its then current total capital, surplus and undivided profits in the aggregate; and
(4) No bank or trust company which engages in activities authorized by § 761(a)(14) or § 1661(a)(14) of this title through subsidiaries or divisions shall allocate any of its total capital, surplus or undivided profits to any such subsidiaries or divisions unless such allocations are “unimpaired” within the meaning of Title 18 and free of all liens and encumbrances.
32 Del. Laws, c. 103, §  13;  Code 1935, §  2301;  5 Del. C. 1953, §  910;  61 Del. Laws, c. 93, §  1;  65 Del. Laws, c. 256, §§  1, 2;  66 Del. Laws, c. 27, §  9;  67 Del. Laws, c. 223, §  10;  69 Del. Laws, c. 165, §  23;  71 Del. Laws, c. 25, §  34;
2023 Delaware Code › Title 5 - Banking › Chapter 9. REGULATIONS GOVERNING BUSINESS OF BANKS AND TRUST COMPANIES › Subchapter I. General Provisions › § 911. Ownership of real estate used for transaction of business.

§ 911. Ownership of real estate used for transaction of business.
Section 762 of this title shall be applicable to all banks and trust companies of this State, except with respect to the investment or expenditure of money prior to July 1, 1933.
32 Del. Laws, c. 103, §  16;  38 Del. Laws, c. 93, §  1(6);  Code 1935, §  2304;  5 Del. C. 1953, §  911;
2023 Delaware Code › Title 5 - Banking › Chapter 9. REGULATIONS GOVERNING BUSINESS OF BANKS AND TRUST COMPANIES › Subchapter I. General Provisions › § 912. Limitations upon loans on security of and purchase of own capital stock.

§ 912. Limitations upon loans on security of and purchase of own capital stock.
No bank or trust company shall purchase shares of its own capital stock, nor make any loan on the faith or pledge of shares of its own capital stock; but nothing in this section shall inhibit such purchase or loan when necessary to prevent loss on debts created prior to March 31, 1921, nor shall it affect the holding of stock acquired by any bank or trust company prior to March 31, 1921. Notwithstanding the foregoing, the Commissioner may approve the purchase by a bank or trust company of the shares of its own capital stock, subject to such terms and conditions, if any, as the Commissioner may require.
32 Del. Laws, c. 103, §  14;  Code 1935, §  2302;  5 Del. C. 1953, §  912;  80 Del. Laws, c. 1, §  2;
2023 Delaware Code › Title 5 - Banking › Chapter 9. REGULATIONS GOVERNING BUSINESS OF BANKS AND TRUST COMPANIES › Subchapter I. General Provisions › § 913. Authority of national bank to act as fiduciary.

§ 913. Authority of national bank to act as fiduciary.
Any national bank located in this State, when authorized by the laws of the United States, may act by any and every method of appointment, and in any capacity whatever, as trustee, executor, administrator, or register of stocks and bonds.
29 Del. Laws, c. 118, §  1;  Code 1935, §  2368;  5 Del. C. 1953, §  913;
2023 Delaware Code › Title 5 - Banking › Chapter 9. REGULATIONS GOVERNING BUSINESS OF BANKS AND TRUST COMPANIES › Subchapter I. General Provisions › § 914. Appointment of trust company as trustee.

§ 914. Appointment of trust company as trustee.
Any court, judge or officer, authorized by law to appoint any person or corporation to any office of trust, may appoint to such office any trust company incorporated under the laws of this State, and having its principal office or place of business in this State, if the court, judge or officer is satisfied that the capital stock of the trust company has been fully paid in cash, and that the trust company is authorized by its charter to perform the duties of the office.
22 Del. Laws, c. 388, §  1;  Code 1915, §§  635, 641, 3872;  37 Del. Laws, c. 52, §  2;  Code 1935, §§  525, 4398;  5 Del. C. 1953, §  914;
2023 Delaware Code › Title 5 - Banking › Chapter 9. REGULATIONS GOVERNING BUSINESS OF BANKS AND TRUST COMPANIES › Subchapter I. General Provisions › § 916. Preference of funds held on deposit.

§ 916. Preference of funds held on deposit.
Whenever any bank or trust company holds on deposit funds as a part of its deposit liabilities for the account of an estate for which it is acting as executor, administrator, guardian, trustee or in any other fiduciary capacity, the liability of such institution to the estate entitled to the funds shall be at all times a preferred claim superior to all unsecured claims of other creditors, including depositors of the institution. This section shall not be construed to subordinate the security of any secured creditor of any such institution to the preference hereby accorded to the deposits of any estate.
32 Del. Laws, c. 103, §  23;  38 Del. Laws, c. 93, §  1(8);  38 Del. Laws, c. 94, §  23;  Code 1935, §§  2311, 2392;  45 Del. Laws, c. 161, §  1;  45 Del. Laws, c. 164, §  1;  5 Del. C. 1953, §  916;  61 Del. Laws, c. 491, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 9. REGULATIONS GOVERNING BUSINESS OF BANKS AND TRUST COMPANIES › Subchapter I. General Provisions › § 917. Surety not required on bond of trust company or national bank; liability and lien upon real estate.

§ 917. Surety not required on bond of trust company or national bank; liability and lien upon real estate.
(a) (1) Whenever a trust company is appointed to an office of trust or to act in a fiduciary capacity, no surety need be required, in the discretion of the appointing court, judge or officer, on any bond given by it for the faithful performance of its duties, by reason of such appointment, unless otherwise stipulated in the will or other instrument making the appointment, or unless required in or by an order or decree of court having jurisdiction in the premises; but all of the capital stock, surplus and property owned by the trust company shall be specially and primarily liable for the obligation of the trust company while acting in such trust or fiduciary capacity.
(2) All liabilities and obligations, arising from or growing out of any such trusts, shall be liens upon its real estate prior and paramount to any other lien or encumbrance the trust company may create or suffer respecting the same.
(b) In case any national bank located in this State shall be appointed trustee, executor or administrator, it need not be required, in the discretion of the appointing person, corporation, court, judge, officer, or authority, to give security on any bonds, which it may by law be compelled to give by reason of such appointment.
22 Del. Laws, c. 388, §  2;  Code 1915, §§  635, 641, 2911, 3872;  37 Del. Laws, c. 52, §  2;  29 Del. Laws, c. 118, §  2;  38 Del. Laws, c. 94, §  24;  Code 1935, §§  525, 2369, 2393, 3416, 4398;  5 Del. C. 1953, §  917;
2023 Delaware Code › Title 5 - Banking › Chapter 9. REGULATIONS GOVERNING BUSINESS OF BANKS AND TRUST COMPANIES › Subchapter I. General Provisions › § 920. Deposits by minors.

§ 920. Deposits by minors.
(a) Any bank, savings bank, savings institution or trust company may receive money on deposit from or in the name of any minor. When any deposit of money shall be made by or in the name of any minor with any bank, savings bank, savings institution or trust company in this State, the same shall be held for the benefit of the depositor, in the same way and to the same extent as if the depositor were an adult person. The minor depositor may make drafts or withdrawals of his deposits, and the deposits shall be paid, together with the dividends and interest thereon, to the person in whose name the deposit shall have been made, or upon his or her written order. The receipt or acquittance of a minor shall be a valid and sufficient release and discharge to the bank, savings bank, savings institution or trust company for the deposit, or any part thereof.
(b) Any bank, savings bank, savings institution or trust company shall have the right to refuse any deposit offered by or in the name of a minor.
(c) Any minor depositing money with a bank, savings bank, savings institution or trust company shall be subject, in all transactions connected therewith, as between himself or herself and the bank, savings bank, savings institution or trust company, to all the obligations, equities and defenses to which an adult person would be subject in similar transactions.
27 Del. Laws, c. 196, §§  1, 2;  Code 1915, §  2113;  Code 1935, §  2267;  5 Del. C. 1953, §  920;
2023 Delaware Code › Title 5 - Banking › Chapter 9. REGULATIONS GOVERNING BUSINESS OF BANKS AND TRUST COMPANIES › Subchapter I. General Provisions › § 922. Deposits of decedents.

§ 922. Deposits of decedents.
Banks, trust companies, savings banks, and savings societies may pay out deposits of decedents, without requiring letters of administration to be issued upon the estates of such decedents, when and as provided by §§ 2306 and 2307 of Title 12.
Code 1915, §  2115;  Code 1935, §  2269;  5 Del. C. 1953, §  922;
2023 Delaware Code › Title 5 - Banking › Chapter 9. REGULATIONS GOVERNING BUSINESS OF BANKS AND TRUST COMPANIES › Subchapter I. General Provisions › § 923. Deposits in names of two or more persons.

§ 923. Deposits in names of two or more persons.
When a deposit in any bank, trust company, savings bank or other banking institution in this State, is made in the name of 2 or more persons, deliverable or payable to either, or to their survivor or survivors, the deposit, or any part thereof, or the increase thereof, may be delivered or paid to either of the persons, or to the survivor or survivors, in due course of business.
28 Del. Laws, c. 107, §  1;  Code 1935, §  2270;  5 Del. C. 1953, §  923;
2023 Delaware Code › Title 5 - Banking › Chapter 9. REGULATIONS GOVERNING BUSINESS OF BANKS AND TRUST COMPANIES › Subchapter I. General Provisions › § 926. Subrogation of Federal Deposit Insurance Corporation to rights of owners of insured deposits in closed institutions.

§ 926. Subrogation of Federal Deposit Insurance Corporation to rights of owners of insured deposits in closed institutions.
Whenever a receiver has been appointed by the Court of Chancery for a bank or trust company in this State and the Federal Deposit Insurance Corporation pays or makes available for payment to the receiver the insured deposit liabilities of the closed institution, the Federal Deposit Insurance Corporation shall be subrogated to all the rights against the closed institution of the owners of the insured deposits in the same manner and to the same extent as if the owners had lawfully assigned to the Federal Deposit Insurance Corporation so much or such of their deposits as the Federal Deposit Insurance Corporation has paid or is ready to pay to the receiver.
40 Del. Laws, c. 231, §  1;  Code 1935, §  2408;  5 Del. C. 1953, §  926;
2023 Delaware Code › Title 5 - Banking › Chapter 9. REGULATIONS GOVERNING BUSINESS OF BANKS AND TRUST COMPANIES › Subchapter I. General Provisions › § 927. Penalty for false statements regarding financial condition.

§ 927. Penalty for false statements regarding financial condition.
Whoever wilfully and maliciously makes, circulates or transmits to another or others, any false statement, rumor or suggestion, written, printed or by word of mouth, which is directly or by inference derogatory to the financial condition or affects the solvency or financial standing of any bank, trust company, savings bank, or other banking institution in this State, shall be fined not more than $2,000 or imprisoned not more than 2 years, or both.
28 Del. Laws, c. 107, §  1;  Code 1935, §  2272;  5 Del. C. 1953, §  927;
2023 Delaware Code › Title 5 - Banking › Chapter 9. REGULATIONS GOVERNING BUSINESS OF BANKS AND TRUST COMPANIES › Subchapter I. General Provisions › § 928. Penalty for representing or holding oneself out as engaged in business of receiving deposits or of a trust company.

§ 928. Penalty for representing or holding oneself out as engaged in business of receiving deposits or of a trust company.
(a) Any person, firm, or association of individuals or any agent or official of any corporation or other person who in any manner represents or holds out himself, herself, themselves or itself, whether by public advertisement, placard, handbill or otherwise, as engaged in the receipt of deposits of money as a savings fund, bank or trust company or any business substantially similar thereto within the boundaries of the State, or as engaged in the business of a trust company within the boundaries of the State, not being authorized under this Code or any other laws of this State to engage in such business or any business substantially similar thereto, shall be fined $1,000 per day in accordance with § 143 of this title, except that § 143(c) of this title shall not apply. In addition, any such person or agent or official of any such corporation, firm or association of individuals may be imprisoned not more than 1 year.
(b) When the name of any person or persons, firm, association or corporation appears in or on any handbill, placard, advertisement or other representation advertising or holding out such person, firm, association or corporation as engaged in the business of receiving deposits of money within the boundaries of the State, or as engaged in the business of a trust company within the boundaries of the State, it shall be prima facie evidence of its presence there by the authority and with the knowledge of such person, firm, association or corporation and of the officers and representatives in this State of the corporation or other person.
22 Del. Laws, c. 467, §§  1, 2;  Code 1915, §§  3507, 3508;  Code 1935, §§  3987, 3988;  5 Del. C. 1953, §  928;  70 Del. Laws, c. 6, §  5;  70 Del. Laws, c. 186, §  1;  73 Del. Laws, c. 247, §  5;