reglab/statecodes huggingface dataset:
2023 Delaware Code › Title 5 - Banking › Chapter 27. CASHING OF CHECKS, DRAFTS OR MONEY ORDERS › Subchapter II. License Provisions › § 2726. Multi-state automated licensing system.

§ 2726. Multi-state automated licensing system.
(a) The Commissioner is authorized to participate in any automated system involving 1 or more other states that will facilitate any aspect of the application and licensing processes of this chapter.
(b) Upon joining any such system, the Commissioner may by regulation establish any of the following:
(1) Any additional requirements for a license under this chapter that the Commissioner determines are necessary for participation in the system.
(2) Any additional investigation fees, any fees paid directly to the administrator of the system, or any other fee required by the system to process an application or maintain a license, in such amount as the Commissioner determines is necessary to participate in the system.
(c) The administrator of any such system in which the Commissioner participates is authorized to act on behalf of the Commissioner to collect from the applicants and licensees subject to the system any payments due the Commissioner under this chapter, to collect information and maintain records in electronic or other format relating to those applicants and licensees, and to submit fingerprints and any other information required for a criminal history background check to the Federal Bureau of Investigation or other law-enforcement agency.
(d) Information maintained on any such system in which the Commissioner participates regarding the applicants and licensees subject to the system may be shared with any other state participating in that system for the purpose of licensing, regulating, or supervising that same applicant or licensee under a statute similar to this chapter, if that state could have obtained that same information directly from the applicant or licensee under its own law. The Commissioner shall ensure that the system maintains appropriate confidentiality, privacy, data security, and security breach notification policies that are in full compliance with Delaware law.
82 Del. Laws, c. 78, § 6;
2023 Delaware Code › Title 5 - Banking › Chapter 27. CASHING OF CHECKS, DRAFTS OR MONEY ORDERS › Subchapter III. Regulatory Provisions › § 2741. Rules and regulations of Commissioner.

§ 2741. Rules and regulations of Commissioner.
The State Bank Commissioner may make such rules and regulations, and such specific rulings, demands and findings as the Commissioner deems necessary for the proper conduct of the business authorized and licensed under and for the enforcement of this chapter. The rules and regulations and the specific rulings, demands and findings shall be in addition to, and not inconsistent with, this chapter.
Code 1935, §  2408F;  46 Del. Laws, c. 287, §  1;  5 Del. C. 1953, §  2741;  84 Del. Laws, c. 42, § 75;
2023 Delaware Code › Title 5 - Banking › Chapter 27. CASHING OF CHECKS, DRAFTS OR MONEY ORDERS › Subchapter III. Regulatory Provisions › § 2742. Limitation on fees and charges for cashing checks or money orders.

§ 2742. Limitation on fees and charges for cashing checks or money orders.
The licensee shall not charge or collect in fees or charges for cashing a check, draft or money order a sum to exceed 2 percent thereof, or $4, whichever is greater. In every location and upon every mobile unit licensed under this chapter, there shall be conspicuously posted and at all times displayed, a schedule of fees and charges permitted under this chapter.
Code 1935, §  2408G;  46 Del. Laws, c. 287, §  1;  5 Del. C. 1953, §  2742;  67 Del. Laws, c. 88, §  1;  69 Del. Laws, c. 165, §  27;
2023 Delaware Code › Title 5 - Banking › Chapter 27. CASHING OF CHECKS, DRAFTS OR MONEY ORDERS › Subchapter III. Regulatory Provisions › § 2743. Books, accounts and records of licensee.

§ 2743. Books, accounts and records of licensee.
Each licensee under this chapter shall keep and use in the business such books, accounts, and records as the State Bank Commissioner requires to carry into effect this chapter and the rules and regulations made by the Commissioner under this chapter. Every licensee shall preserve such books, accounts and records for at least 2 years.
Code 1935, §  2408G;  46 Del. Laws, c. 287, §  1;  5 Del. C. 1953, §  2743;
2023 Delaware Code › Title 5 - Banking › Chapter 27. CASHING OF CHECKS, DRAFTS OR MONEY ORDERS › Subchapter III. Regulatory Provisions › § 2745. Violations and penalties.

§ 2745. Violations and penalties.
(a) Whoever violates this chapter shall be fined not more than $500 or imprisoned not more than 1 year, or both.
(b) Any person who suffers a loss due to a violation of this chapter by another shall have a private cause of action against such person. If damages are awarded to an aggrieved party as a result of a violation of this chapter, such damages awarded shall be treble the amount of the actual damages proved.
(c) If a court of competent jurisdiction finds that any person has wilfully violated this chapter, the person shall forfeit and pay to the State or the aggrieved party, as the case may be, a civil penalty of not less than $250 nor more than $500 for the first violation, and not less than $500 nor more than $1,000 for each subsequent violation. For purposes of this subsection, a wilful violation occurs when the person committing the violation knew or should have known that the conduct was of the nature prohibited by this chapter.
Code 1935, §  2408H;  46 Del. Laws, c. 287, §  1;  5 Del. C. 1953, §  2745;  73 Del. Laws, c. 405, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 29. FINANCING THE SALE OF MOTOR VEHICLES › § 2903. Renewal of license.

§ 2903. Renewal of license.
Every holder of a license or a renewal thereof, as provided for in this section, desiring to continue the transaction of 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 any supervisory assessment or examination fees when due may be refused license renewal.
70 Del. Laws, c. 6, §  14;  70 Del. Laws, c. 327, §  42;
2023 Delaware Code › Title 5 - Banking › Chapter 29. FINANCING THE SALE OF MOTOR VEHICLES › § 2904. Suspension, revocation or surrender of license.

§ 2904. Suspension, revocation or surrender of license.
(a) The Commissioner may revoke any license issued hereunder upon finding that:
(1) The licensee has violated any provision of this chapter or any rule or regulation made by the Commissioner under and within the authority of this chapter or of any other law, rule or regulation of this State or the United States;
(2) Any fact or condition exists which, if it had existed at the time of the original application for such license, would have warranted the Commissioner in refusing originally to issue such license; or
(3) The licensee has engaged in business activities or practices, in connection with any business for which a license is required under this chapter, which could be deemed unfair or deceptive by nature of intent. Such activities and practices include, but are not limited to, the use of tactics which mislead the consumer, misrepresent the consumer transaction or any part thereof, or otherwise create false expectations on the part of the consumer.
(b) The Commissioner may temporarily suspend any license pending the issuance of a final order as provided in Chapter 101 of Title 29.
(c) Except as provided in subsection (b) of this section, no license shall be revoked or suspended except after notice and an opportunity for the licensee to request a hearing in accordance with Chapter 101 of Title 29.
(d) Any licensee may surrender any license by delivering to the Commissioner such license together with written notice that it thereby surrenders such license, but such surrender shall not affect such licensee's civil or criminal liability for acts committed prior to such surrender.
(e) No revocation, suspension or surrender of any license shall impair or affect the obligation of any preexisting lawful contract between the licensee and any person.
(f) Every license issued hereunder shall remain in force and effect until the same shall have expired or shall have been surrendered, revoked or suspended in accordance with this chapter, but the Commissioner shall have authority to reinstate a suspended license or to issue a new license to a licensee whose license shall have been revoked if no fact or condition then exists which would have warranted the Commissioner in refusing originally to issue such license under this chapter.
(g) Whenever the Commissioner shall revoke or suspend a license issued pursuant to this chapter, the Commissioner shall forthwith execute a written order to that effect. The Commissioner shall forthwith serve the written order upon the licensee. Any such order may be reviewed in the manner provided by Chapter 101 of Title 29.
5 Del. C. 1953, §  2903;  52 Del. Laws, c. 335, §  1;  57 Del. Laws, c. 740, §  25B;  70 Del. Laws, c. 6, §  14;  70 Del. Laws, c. 186, §  1;  73 Del. Laws, c. 24, §  15;  77 Del. Laws, c. 126, §  7;
2023 Delaware Code › Title 5 - Banking › Chapter 29. FINANCING THE SALE OF MOTOR VEHICLES › § 2905. Filing of complaints.

§ 2905. Filing of complaints.
Any retail buyer having reason to believe that this chapter relating to the retail buyer's retail installment contract has been violated, may file with the Commissioner a written complaint setting forth the details of such alleged violation and the Commissioner, upon receipt of such complaint, may inspect the pertinent books, records, letters and contracts of the licensee and of the retail seller involved, relating to such specific written complaint.
5 Del. C. 1953, §  2904;  52 Del. Laws, c. 335, §  1;  70 Del. Laws, c. 6, §  14;  70 Del. Laws, c. 186, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 29. FINANCING THE SALE OF MOTOR VEHICLES › § 2908. Finance charge.

§ 2908. Finance charge.
(a) A retail seller or the holder of a retail installment contract may charge and collect a finance charge in respect of a retail installment transaction and may calculate such finance charge in the manner and at the rate or rates specified in the contract governing the retail installment transaction.
(b) Any sales finance company may purchase or acquire or agree to purchase or acquire from any seller any contract on such terms and conditions as may be agreed upon between them. Filing of the assignment, notice to the buyer of the assignment, and any requirement that the holder maintain dominion over the payments or the motor vehicle if repossessed shall not be necessary to the validity of a written assignment of a contract as against creditors, subsequent purchasers, pledgees, mortgagees and lien claimants of the seller. Unless the buyer has notice of the assignment of the contract, payment thereunder made by the buyer to the last-known holder of such contract shall be binding upon all subsequent holders.
5 Del. C. 1953, §  2907;  52 Del. Laws, c. 335, §  1;  60 Del. Laws, c. 53, §  1;  61 Del. Laws, c. 83, §  1;  62 Del. Laws, c. 228, §§  3, 4;  63 Del. Laws, c. 2, §  12;  70 Del. Laws, c. 6, §  14;  70 Del. Laws, c. 186, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 29. FINANCING THE SALE OF MOTOR VEHICLES › § 2910. Deferred installments.

§ 2910. Deferred installments.
A holder may at any time or from time to time permit a buyer to defer installment payments due under the terms of a retail installment contract and may, in connection with such deferral, charge and collect deferral charges and may also require payment by such buyer of the additional cost to the holder of premiums for continuing in force, until the end of such period of deferral, any insurance coverage provided in connection with the contract.
5 Del. C. 1953, §  2909;  52 Del. Laws, c. 335, §  1;  63 Del. Laws, c. 2, §  13;  70 Del. Laws, c. 6, §  14;
2023 Delaware Code › Title 5 - Banking › Chapter 29. FINANCING THE SALE OF MOTOR VEHICLES › § 2911. Penalties.

§ 2911. Penalties.
(a) Any person who shall wilfully and intentionally violate this chapter or engage in the business of a sales finance company in this State without a license therefor as provided in this chapter shall be fined not more than $500.
(b) A wilful violation of §§ 2907, 2908 or 2909 of this title by the seller or holder shall bar recovery of any finance charge, delinquency or collection charge on the contract.
5 Del. C. 1953, §  2910;  52 Del. Laws, c. 335, §  1;  70 Del. Laws, c. 6, §  14;  71 Del. Laws, c. 254, §  32;
2023 Delaware Code › Title 5 - Banking › Chapter 29. FINANCING THE SALE OF MOTOR VEHICLES › § 2912. Waiver unenforceable and void.

§ 2912. Waiver unenforceable and void.
Any waiver of this chapter shall be unenforceable and void.
5 Del. C. 1953, §  2911;  52 Del. Laws, c. 335, §  1;  70 Del. Laws, c. 6, §  14;
2023 Delaware Code › Title 5 - Banking › Chapter 29. FINANCING THE SALE OF MOTOR VEHICLES › § 2913. Disclosure requirements.

§ 2913. Disclosure requirements.
Notwithstanding any other provision of this chapter to the contrary, disclosures made in the terminology of the Truth in Lending Act [15 U.S.C. § 1601 et seq.], as amended, and regulations prescribed thereunder, shall be deemed to comply with comparable, but literally inconsistent disclosure requirements of this chapter; provided, however, that any charges otherwise authorized under this chapter may be contracted for and collected in amounts and at rates consistent with this chapter without regard to any inconsistent terminology of said Truth in Lending Act and this chapter.
5 Del. C. 1953, §  2912;  57 Del. Laws, c. 156;  70 Del. Laws, c. 6, §  14;
2023 Delaware Code › Title 5 - Banking › Chapter 29. FINANCING THE SALE OF MOTOR VEHICLES › § 2915. Multi-state automated licensing system.

§ 2915. Multi-state automated licensing system.
(a) The Commissioner is authorized to participate in any automated system involving 1 or more other states that will facilitate any aspect of the application and licensing processes of this chapter.
(b) Upon joining any such system, the Commissioner may by regulation establish any of the following:
(1) Any additional requirements for a license under this chapter that the Commissioner determines are necessary for participation in the system.
(2) Any additional investigation fees, any fees paid directly to the administrator of the system, or any other fee required by the system to process an application or maintain a license, in such amount as the Commissioner determines is necessary to participate in the system.
(c) The administrator of any such system in which the Commissioner participates is authorized to act on behalf of the Commissioner to collect from the applicants and licensees subject to the system any payments due the Commissioner under this chapter, to collect information and maintain records in electronic or other format relating to those applicants and licensees, and to submit fingerprints and any other information required for a criminal history background check to the Federal Bureau of Investigation or other law-enforcement agency.
(d) Information maintained on any such system in which the Commissioner participates regarding the applicants and licensees subject to the system may be shared with any other state participating in that system for the purpose of licensing, regulating, or supervising that same applicant or licensee under a statute similar to this chapter, if that state could have obtained that same information directly from the applicant or licensee under its own law. The Commissioner shall ensure that the system maintains appropriate confidentiality, privacy, data security, and security breach notification policies that are in full compliance with Delaware law.
82 Del. Laws, c. 78, § 8;
2023 Delaware Code › Title 5 - Banking › Chapter 32. TRANSPORTATION OF MONEY AND VALUABLES › § 3202. Definitions.

§ 3202. Definitions.
For purposes of this chapter:
(1) “Person” means any individual, partnership, association, joint stock association or corporation, or other entity, but does not include the United States government or the government of this State.
(2) “Licensee” means a person duly licensed by the State Bank Commissioner pursuant to this chapter.
(3) “Money” includes cash, legal tender or currency of the United States or of any other state or nation.
(4) “Transporter” means any person engaged in the business of transporting for hire, money or other valuables.
(5) “Valuables” includes bullion, securities, stocks, bonds, any negotiable or nonnegotiable documents, jewels or other property or documents of substantial monetary value.
(6) “Commissioner” means the State Bank Commissioner.
5 Del. C. 1953, §  3202;  58 Del. Laws, c. 423;  68 Del. Laws, c. 113, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 32. TRANSPORTATION OF MONEY AND VALUABLES › § 3203. License required.

§ 3203. License required.
No person requiring a license by this chapter shall engage in this State in the business of a transporter until such person's application for a license to so engage in business is finally approved by the State Bank Commissioner.
5 Del. C. 1953, §  3203;  58 Del. Laws, c. 423;  70 Del. Laws, c. 186, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 32. TRANSPORTATION OF MONEY AND VALUABLES › § 3204. Exempt from licensing.

§ 3204. Exempt from licensing.
(a) No license as a transporter shall be required of any of the following:
(1) Banks, trust companies, building and loan associations, organized under the laws of this State or authorized to do business in this State while transporting their own property;
(2) Incorporated telegraph companies insofar as they receive money at any of their respective offices or agencies for immediate transmission by telegraph.
(b) Nothing contained in this section or in any other section of this chapter shall be construed to enlarge or limit the rights which any of the above-named organizations have under any existing law.
5 Del. C. 1953, §  3204;  58 Del. Laws, c. 423.;
2023 Delaware Code › Title 5 - Banking › Chapter 32. TRANSPORTATION OF MONEY AND VALUABLES › § 3205. Qualifications.

§ 3205. Qualifications.
To qualify for a license hereunder an applicant shall meet the following requirements:
(1) The applicant shall have a net worth of at least $50,000, computed according to generally accepted accounting principles.
(2) The financial responsibility, financial condition, and business experience, and character and general fitness of the applicant shall be such as reasonably to warrant the belief that applicant's business will be conducted honestly, carefully and efficiently. To the extent deemed advisable by the Commissioner, the Commissioner may investigate and consider the qualifications of the applicant including officers and directors of an applicant in determining whether this qualification has been met.
5 Del. C. 1953, §  3205;  58 Del. Laws, c. 423.;
2023 Delaware Code › Title 5 - Banking › Chapter 32. TRANSPORTATION OF MONEY AND VALUABLES › § 3206. Applications.

§ 3206. Applications.
Each application for a license shall be made in writing and under oath to the Commissioner in such form and containing such information as the Commissioner may prescribe including the name and business and residence address:
(1) Of the proprietor, if the applicant is an individual;
(2) Of every member, if the applicant is a partnership or unincorporated association;
(3) Of the corporation and each officer and director thereof, if the applicant is a corporation, stating the date and the state of incorporation.
5 Del. C. 1953, §  3206;  58 Del. Laws, c. 423;  70 Del. Laws, c. 186, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 32. TRANSPORTATION OF MONEY AND VALUABLES › § 3207. Accompanying fees and statements.

§ 3207. Accompanying fees and statements.
Each application for a license shall be accompanied by:
(1) An investigation fee of $250, which shall not be subject to refund;
(2) The annual license fee as specified in § 3210 of this title;
(3) Financial statements reasonably satisfactory to the Commissioner.
5 Del. C. 1953, §  3207;  58 Del. Laws, c. 423;  67 Del. Laws, c. 126, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 32. TRANSPORTATION OF MONEY AND VALUABLES › § 3208. Action by the Commissioner; conditional approval.

§ 3208. Action by the Commissioner; conditional approval.
Upon the filing of the application and the payment of the investigation fee and the annual license fee, the Commissioner shall, to the extent the Commissioner deems advisable, investigate the financial responsibility, financial condition, financial and business experience, character and general fitness of the applicant, and if the Commissioner finds these qualities are such as to warrant the belief that the applicant's business will be conducted honestly, fairly, equitably, carefully and efficiently within the purposes of the intent of this chapter, and in the manner commanding the confidence and trust of the community, the Commissioner shall advise the applicant in writing of the Commissioner's conditional approval of the application, and thereafter, upon compliance by the applicant with § 3209 of this title, shall issue to the applicant a license to engage in the business of a transporter. If the Commissioner determines on the basis of the Commissioner's investigation that the applicant does not comply with the purposes of this chapter as set forth in the preceding sentence of this section, the Commissioner shall notify the applicant of the denial of the conditional approval of the license stating the reasons therefor in writing.
5 Del. C. 1953, §  3208;  58 Del. Laws, c. 423;  70 Del. Laws, c. 186, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 32. TRANSPORTATION OF MONEY AND VALUABLES › § 3210. Renewal of license; annual license fee.

§ 3210. Renewal of license; annual license fee.
Every holder of a license or a renewal thereof, as provided for in this section, desiring to continue the transaction of 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. Each licensee shall pay to the Commissioner annually, together with its application for license renewal, a license fee of $200 for the ensuing calendar year. 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 examination fees when due may be refused license renewal.
5 Del. C. 1953, §  3210;  58 Del. Laws, c. 423;  70 Del. Laws, c. 6, §  15;  70 Del. Laws, c. 327, §  42;
2023 Delaware Code › Title 5 - Banking › Chapter 32. TRANSPORTATION OF MONEY AND VALUABLES › § 3211. Agents.

§ 3211. Agents.
A licensee may conduct the licensee's business at one or more locations within the State and through or by means of such agents as the licensee may from time to time designate or appoint. No license under this chapter shall be required of any agent of a licensee. In order for an agent to be authorized to act for the licensee in this State, the licensee shall have on file with the Commissioner the name and address of the agent and the licensee shall notify the Commissioner within 30 days of the change of name and/or address of an agent or of the termination of any such agent. The requirements of this section shall not apply to any agent of a licensee who is exempt from this chapter pursuant to § 3204(a) of this title.
5 Del. C. 1953, §  3211;  58 Del. Laws, c. 423;  70 Del. Laws, c. 186, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 32. TRANSPORTATION OF MONEY AND VALUABLES › § 3212. Liability of licensee.

§ 3212. Liability of licensee.
(a) Each licensee shall be absolutely liable for any loss, damage, destruction or impairment of the money or valuables placed in the licensee's possession in addition to whatever additional liability shall be imposed upon the licensee by reason of contractual obligations or the laws of this State or any other applicable law.
(b) In any action to recover money or valuables delivered to a transporter, the burden of proving the delivery to and the receipt of such money or valuables by the person to whom it was directed to be paid or delivered shall be upon the transporter.
5 Del. C. 1953, §  3212;  58 Del. Laws, c. 423;  70 Del. Laws, c. 186, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 32. TRANSPORTATION OF MONEY AND VALUABLES › § 3213. Suspension, revocation or surrender of license.

§ 3213. Suspension, revocation or surrender of license.
(a) The Commissioner may revoke any license issued hereunder upon finding that:
(1) The licensee has violated any provision of this chapter or any rule or regulation made by the Commissioner under and within the authority of this chapter or of any other law, rule or regulation of this State or the United States;
(2) Any fact or condition exists which, if it had existed at the time of the original application for such license, would have warranted the Commissioner in refusing originally to issue such license; or
(3) The licensee has engaged in business activities or practices inconsistent with its responsibilities under this chapter.
(b) The Commissioner may temporarily suspend any license pending the issuance of a final order as provided in Chapter 101 of Title 29.
(c) Except as provided in subsection (b) of this section, no license shall be revoked or suspended except after notice and an opportunity for the licensee to request a hearing in accordance with Chapter 101 of Title 29.
(d) Any licensee may surrender any license by delivering to the Commissioner such license together with written notice that it thereby surrenders such license, but such surrender shall not affect such licensee's civil or criminal liability for acts committed prior to such surrender.
(e) No revocation, suspension or surrender of any license shall impair or affect the obligation of any preexisting lawful contract between the licensee and any person.
(f) Every license issued hereunder shall remain in full force and effect until the same shall have expired or shall have been surrendered, revoked or suspended in accordance with this chapter, but the Commissioner shall have authority to reinstate a suspended license or issue a new license to a licensee whose license shall have been revoked if no fact or condition then exists which would have warranted the Commissioner in refusing originally to issue such license under this chapter.
(g) Whenever the Commissioner shall revoke or suspend a license issued pursuant to this chapter, the Commissioner shall forthwith execute a written order to that effect. The Commissioner shall forthwith serve the written order upon the licensee. Any such order may be reviewed in the manner provided by Chapter 101 of Title 29.
5 Del. C. 1953, §  3213;  58 Del. Laws, c. 423;  68 Del. Laws, c. 303, §  45;  70 Del. Laws, c. 186, §  1;  73 Del. Laws, c. 24, §  16;  77 Del. Laws, c. 126, §  9;
2023 Delaware Code › Title 5 - Banking › Chapter 32. TRANSPORTATION OF MONEY AND VALUABLES › § 3216. Penalties.

§ 3216. Penalties.
Any person who violates this chapter shall be fined not less than $100 nor more than $1,000, imprisoned for not more than 5 years, or both, for each such offense.
5 Del. C. 1953, §  3216;  58 Del. Laws, c. 423.;
2023 Delaware Code › Title 5 - Banking › Chapter 32. TRANSPORTATION OF MONEY AND VALUABLES › § 3218. Limitation on construction of chapter.

§ 3218. Limitation on construction of chapter.
This chapter shall not be construed as permitting any corporation, domestic or foreign, to transact in this State the business of a state bank and trust company, savings bank, industrial bank, private bank or building or savings and loan association.
5 Del. C. 1953, §  3218;  58 Del. Laws, c. 423.;
2023 Delaware Code › Title 5 - Banking › Chapter 32. TRANSPORTATION OF MONEY AND VALUABLES › § 3219. State government contracts.

§ 3219. State government contracts.
No contract shall be awarded by the State for the transportation, handling or storage of moneys, including lawful currency and coin, negotiable and nonnegotiable securities, stocks, bonds, coupons and things of unusual value, in the absence of a certificate that (i) the provider was licensed under this chapter at the time its bid for the contract was submitted or that at such time the provider had an application for such a license filed with the Commissioner with all fees required by § 3207 of this title paid and awaiting action by the Commissioner, and (ii) also that at the time of the award of such contract the provider was fully licensed under this chapter. All bids for such contracts shall include a statement that the bidder is licensed under this chapter, or that the bidder has an application filed with the Commissioner for such a license with all fees required by § 3207 of this title paid and awaiting action by the Commissioner. Officials responsible for awarding and administering such contract shall establish that the provider is fully licensed under this chapter and is in good standing with the Commissioner as of the date of the award of the contract and for each year of the contract thereafter.
67 Del. Laws, c. 126, §  6;
2023 Delaware Code › Title 5 - Banking › Chapter 32. TRANSPORTATION OF MONEY AND VALUABLES › § 3220. Supervision and examination of business by the Commissioner.

§ 3220. Supervision and examination of business by the Commissioner.
(a) Every person or combination of persons licensed as a transporter under this chapter shall be subject to the supervision and examination of the State Bank Commissioner and shall be examined by the Commissioner or the Commissioner's authorized representative annually or at such intervals as the Commissioner deems necessary.
(b) On the occasion of every examination, the Commissioner or the Commissioner's authorized representative shall be given free access to the licensee's books and records.
(c) The examination made by the Commissioner, or the Commissioner's authorized representatives, shall be a thorough examination into the compliance or noncompliance with this Code or any regulations promulgated thereunder, and any other statutes or regulations of this State or the United States; in addition, such examination shall include a review of the licensee's business practices and such other matters, as in the judgment of the Commissioner, may have relation to the security of property of the licensee's customers. In connection with such examination, the Commissioner may examine, under oath or affirmation, any and all persons connected with the licensee.
(d) Each licensee shall submit to the Commissioner on or before January 1 of each year financial statements for the licensee's most recently available completed fiscal year which have been audited by a certified public accountant, including the report of the certified public accountant thereon.
68 Del. Laws, c. 113, §  2;  70 Del. Laws, c. 186, §  1;  77 Del. Laws, c. 126, §  10;
2023 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 the Commissioner 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;  84 Del. Laws, c. 42, § 77;
2023 Delaware Code › Title 5 - Banking › Chapter 33. BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATIONS › Subchapter I. General Provisions › § 3302. Findings; declaration of purposes.

§ 3302. Findings; declaration of purposes.
(a) It is determined and declared as a matter of legislative finding that:
(1) The availability of financial and management assistance are important resources to small businesses to locate, remain and expand in the State, which, in time, will result in increased employment opportunities in the State.
(2) There is need for financial and management resource alternatives to small businesses in the State due to lack of bank financing in situations, including, but not limited to, start-ups, under-collateralization, management problems and above-average risk projects.
(3) Many small businesses, although in a growth mode, do not meet the investment criteria of venture capital firms.
(4) In order to increase employment opportunities and commercial transactions in the State, there is a need to encourage the development of resources directed at small businesses, which will help such businesses locate, remain and expand in the State.
(b) It is further determined and declared that the purposes of this chapter shall be to:
(1) Promote economic development by encouraging the formation of private financial institutions known as Bidcos to help meet the financing assistance and management assistance needs of growth-oriented small businesses in the State; and
(2) Provide for the licensing and regulation of Bidcos to prevent fraud, conflict of interest and mismanagement, in order to encourage:
a. Private equity investments in Bidcos; and
b. Pension funds, insurance companies, foundations, utilities and other institutions to lend funds to Bidcos.
66 Del. Laws, c. 344, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 33. BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATIONS › Subchapter I. General Provisions › § 3304. Applicability of other laws.

§ 3304. Applicability of other laws.
A corporation licensed under and pursuant to this chapter shall be known as a Bidco, shall be subject to regulation by the Commissioner and shall be deemed subject to the General Corporation Law of Delaware to the extent that such law is not inconsistent with the express provisions of this chapter.
66 Del. Laws, c. 344, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 33. BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATIONS › Subchapter I. General Provisions › § 3306. Supervision of Bidcos.

§ 3306. Supervision of Bidcos.
(a) The Commissioner shall administer this chapter and shall have supervision responsibility for all Bidcos incorporated under the laws of this State, and shall secure the execution of all laws relative to Bidcos.
(b) The Commissioner shall issue orders and promulgate rules and regulations that are deemed necessary or appropriate to execute, enforce and effectuate the purposes of this chapter.
(c) Whenever the Commissioner issues an order or license under this chapter, the Commissioner may impose conditions that are deemed necessary or appropriate to effectuate the purposes of this chapter.
(d) Every final order, decision or license action of the Commissioner under this chapter is subject to administrative and judicial review in accordance with law.
66 Del. Laws, c. 344, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 33. BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATIONS › Subchapter I. General Provisions › § 3307. Fees.

§ 3307. Fees.
The Commissioner shall establish a schedule of fees, which the Commissioner determines to be reasonable and necessary to effectuate the purposes of this chapter, in connection with the licensing, administration and supervision of Bidcos, and such schedule shall be subject to amendment by the Commissioner from time to time.
66 Del. Laws, c. 344, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 33. BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATIONS › Subchapter II. Licensing › § 3312. Voluntary surrender of Bidco license.

§ 3312. Voluntary surrender of Bidco license.
(a) Upon approval of a two-thirds vote of its board of directors and after complying with subsection (b) of this section, a licensee may apply to the Commissioner to have the Commissioner accept the surrender of the license of such licensee. If the Commissioner determines that the requirements of this section have been satisfied, the Commissioner shall approve the application, unless in the opinion of the Commissioner the purpose of the application is to evade a current or prospective action by the Commissioner under subchapter VI of this chapter.
(b) Not less than 60 days before filing an application with the Commissioner under subsection (a) of this section, a licensee shall notify each of its shareholders of its intention to file such application. Each such shareholder shall be notified of the right to file with the licensee an objection to the proposed surrender of the license within the 60-day period and shall be advised that, if such shareholder files such an objection, such shareholder should send a copy of such objection to the Commissioner. If shareholders holding 20 percent or more of the outstanding voting securities of the licensee file such objections, the licensee shall not proceed with the application under subsection (a) of this section unless the application is approved by a vote of shareholders holding two thirds of the outstanding voting securities of such licensee.
66 Del. Laws, c. 344, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 33. BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATIONS › Subchapter III. Conduct of Bidco Business › § 3321. Office.

§ 3321. Office.
(a) A licensee shall maintain not less than 1 office in the State.
(b) Each office of a licensee, whether within or outside of the State, shall be located in a place which is reasonably accessible to the public.
(c) A licensee shall maintain at each of its offices personnel who are competent to conduct the business of such office.
(d) Upon written notice to the Commissioner, a licensee may establish, relocate or close an office.
66 Del. Laws, c. 344, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 33. BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATIONS › Subchapter III. Conduct of Bidco Business › § 3322. Business of a Bidco.

§ 3322. Business of a Bidco.
(a) The business of a licensee shall be the business of providing financing assistance and management assistance to business firms.
(b) A licensee may determine the structure and the terms and conditions for financing assistance provided by that licensee to a business firm including, but not limited to, structures such as straight loans, purchase of debt instruments, straight equity investments (e.g., purchase of common stock or preferred stock), debt with equity features (e.g., warrants to purchase stock, convertible debentures or receipt of a percentage of gross or net income or sales), royalty-based financing, guaranteeing of debt or leasing of property.
(c) Management assistance provided by a licensee to a business firm may encompass management and technical advice and services.
(d) A licensee may exercise the incidental powers that are necessary or convenient to carry on the business of, or that are reasonably related to the business of, providing financing assistance and management assistance to business firms.
(e) In connection with an extension of credit by a licensee to a business firm, the licensee and such business firms may, notwithstanding any other provisions of the laws of the State, agree to any rate of interest and any schedule of fees.
66 Del. Laws, c. 344, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 33. BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATIONS › Subchapter III. Conduct of Bidco Business › § 3324. Business of Bidco to be conducted in prudent business manner.

§ 3324. Business of Bidco to be conducted in prudent business manner.
(a) A licensee shall transact its business in a prudent business manner and shall maintain itself in a viable condition.
(b) In determining whether a licensee is transacting business in a prudent business manner, the Commissioner shall not consider the risk of the financing assistance provided by such licensee to a business firm, unless the Commissioner determines that the risk is so great compared with the realistically expected return as to demonstrate mismanagement of the licensee.
(c) Subsection (b) of this section shall not limit the authority of the Commissioner to do any of the following:
(1) Determine that a licensee's financing assistance to a single business firm or a group of affiliated business firms is in violation of subsection (a) of this section if the amount of such financing assistance is unduly large in relation to the total assets or the total shareholder's equity of such licensee.
(2) Require that a licensee maintain a reserve in the amount of anticipated losses.
(3) Require that a licensee have in effect a written financing assistance policy, approved by its board of directors, including credit evaluation criteria and other matters. The Commissioner shall not require that a licensee adopt a financing assistance policy that contains standards which prevent such licensee from exercising needed flexibility in evaluating and structuring financing assistance to business firms on a deal-by-deal basis.
66 Del. Laws, c. 344, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 33. BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATIONS › Subchapter III. Conduct of Bidco Business › § 3325. Avoidance of conflict of interest.

§ 3325. Avoidance of conflict of interest.
(a) A licensee shall avoid any transaction or act which involves, or has the potential to involve, a conflict of interest, unless such transaction or act and the circumstances underlying the conflict or potential conflict of interest are fully and adequately disclosed to appropriate persons.
(b) Notwithstanding subsection (a) of this section, a licensee shall provide the Commissioner with a separate notice, setting forth the specific facts concerning an actual or potential conflict of interest, prior to the consummation of any transaction or act referred to in subsection (a) of this section.
(c) Nothing in this section shall limit the authority of the Commissioner to determine that a transaction or act involves a conflict of interest, including, but not limited to, disapproval of any proposed transaction, or to take such steps that the Commissioner deems necessary or appropriate to resolve such conflict of interest.
66 Del. Laws, c. 344, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 33. BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATIONS › Subchapter IV. Mergers, Acquisitions and Sale of Business Assets › § 3331. General rules.

§ 3331. General rules.
(a) Without the prior approval of the Commissioner, a licensee shall not consummate a transaction involving a merger, acquisition of control or a sale of all or substantially all of its business assets, where the licensee is a principal party to such transaction.
(b) The Commissioner shall not approve the merger of a licensee with another corporation unless:
(1) The licensee is the surviving corporation; or
(2) If the licensee is the disappearing corporation, the surviving corporation is also a licensee.
(c) The Commissioner shall approve an application by a licensee for approval of a proposed transaction involving a merger, acquisition of control or a sale of all or substantially all of such licensee's business assets, only upon a finding by the Commissioner that:
(1) Such merger, acquisition or sale will be on a sound financial basis with respect to the acquiring licensee;
(2) Upon consummation of such merger, acquisition or sale, it is reasonable to believe that the acquiring licensee will comply with this chapter; and
(3) Such merger, acquisition or sale will not have a major detrimental impact upon competition in the providing of financing assistance or management assistance to business firms, or if there will be such a major detrimental impact, such merger, acquisition or sale is necessary in the interests of the financial soundness of any of the parties to such merger, acquisition or sale, or is otherwise, on balance, in the public interest.
66 Del. Laws, c. 344, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 33. BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATIONS › Subchapter V. Operating Rules Governing Business of Bidcos › § 3341. Form and maintenance of Bidco records; annual audited report.

§ 3341. Form and maintenance of Bidco records; annual audited report.
(a) A licensee shall make and keep books, accounts and other records in such form and manner as the Commissioner may require. Such records shall be kept at such place and shall be preserved for such length of time as the Commissioner may specify.
(b) Not more than 90 days after the close of each fiscal year of a licensee or a longer period if specified by the Commissioner, a licensee shall file with the Commissioner an audited report containing the following:
(1) Financial statements, including balance sheet, statement of income or loss, statement of changes in capital accounts and statement of changes in financial position;
(2) A report, certificate or opinion of the independent certified public accountant or independent public accountant who performs the audit, stating that the financial statements were prepared in accordance with generally accepted accounting principles; and
(3) Such other information as the Commissioner may require.
66 Del. Laws, c. 344, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 33. BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATIONS › Subchapter V. Operating Rules Governing Business of Bidcos › § 3342. Periodic report requirements.

§ 3342. Periodic report requirements.
In addition to the audited report required by § 3341(b) of this title, a licensee shall file with the Commissioner such other reports and at such times as the Commissioner may require. Any report required by the Commissioner under this section shall be in such form and shall contain such information as the Commissioner may specify.
66 Del. Laws, c. 344, §  1;