2023 Delaware Code › Title 5 - Banking › Chapter 8. ACQUISITION OF INTERESTS IN BANKING INSTITUTIONS; BANK HOLDING COMPANIES › Subchapter III. Acquisition of Delaware Savings Banks › § 831. Definitions.

§ 831. Definitions.
For purposes of this subchapter, the following words and phrases shall have the meanings ascribed to them herein:
(1) “Acquire” or “acquisition” means:
a. The merger or consolidation of a savings and loan holding company with another savings and loan holding company or with a bank holding company;
b. The assumption by a savings institution, savings and loan holding company or bank holding company of direct or indirect ownership or control of the voting shares of a savings institution or savings and loan holding company if, after the effective date thereof, the savings institution, savings and loan holding company or bank holding company making the acquisition will directly or indirectly own or control more than 5 percent of any class of voting shares of the other savings institution or savings and loan holding company; or
c. The assumption of ownership or control of all or substantially all of the assets of a savings institution or savings and loan holding company.
(2) “Bank holding company” means a bank holding company as defined in the Bank Holding Company Act of 1956, as amended (12 U.S.C. § 1841 et seq.).
(3) “Commissioner” and “divest” shall have the meanings ascribed to them in § 801 of this title.
(4) “Control” shall have the same meaning as set forth in the Home Owners' Loan Act of 1933, as amended, at 12 U.S.C. § 1467a.
(5) “Delaware savings and loan holding company” means a savings and loan holding company located in Delaware which owns or controls a Delaware savings bank.
(6) “Delaware savings bank” means:
a. A savings bank organized and existing under the laws of this State that is not a “bank” as defined in § 842(1) of this title; or
b. A federal savings bank or federal savings association organized and existing under the Home Owners' Loan Act (12 U.S.C. § 1461 et seq.), which is located in Delaware.
(7) “Deposit” or “deposits” means:
a. When referring to a savings institution or a savings institution subsidiary of a savings and loan holding company or bank holding company, a “deposit” as defined in § 3(l) of the Federal Deposit Insurance Act, 12 U.S.C. § 1813(l); and
b. When referring to a bank subsidiary of a bank holding company, a “deposit” as defined in § 204.2(a) of Regulation D of the Federal Reserve Board (12 C.F.R. § 204.2(a)).
(8) “Location” or “located” means:
a. When referring to a savings and loan holding company, the state in which the amount of aggregate deposits in the United States offices of all of its directly or indirectly owned or controlled savings institution or nonsavings institution subsidiaries (as well as all of the savings institution or nonsavings institution subsidiaries of any savings and loan holding company which owns or controls that savings and loan holding company) is greatest;
b. When referring to a savings institution, the state in which the amount of aggregate deposits of all its offices in that state is greatest; and
c. When referring to a bank holding company, the state in which the amount of aggregate deposits in the United States offices of all of its directly or indirectly owned or controlled banking or savings institution or nonbanking or nonsavings institution subsidiaries (as well as all of the banking or savings institution or nonbanking or nonsavings institution subsidiaries of any bank holding company which owns or controls that bank holding company) is greatest.
(9) “Out-of-state bank holding company” shall have the meaning specified in § 801 of this title.
(10) “Out-of-state savings and loan holding company” means a savings and loan holding company located in a state other than Delaware.
(11) “Out-of-state savings institution” means a savings institution located in a state other than Delaware.
(12) “Savings and loan holding company” means a savings and loan holding company as defined in the Home Owners' Loan Act of 1933, as amended, at 12 U.S.C. § 1467a.
(13) “Savings institution” means a savings bank or savings and loan association chartered under the laws of any state, or a federal savings bank or federal savings association, the deposits of which are insured by the Federal Deposit Insurance Corporation.
(14) “Subsidiary” means, with respect to a savings institution, savings and loan holding company or bank holding company:
a. Any company 25 percent or more of whose voting shares is directly or indirectly owned or controlled by such savings institution, savings and loan holding company or bank holding company, or is held by it with power to vote; or
b. Any company the election of a majority of whose directors is controlled in any manner by such savings institution, savings and loan holding company or bank holding company.
66 Del. Laws, c. 33, §  3;  70 Del. Laws, c. 327, §§  11-20;  71 Del. Laws, c. 25, §  21;