reglab/statecodes huggingface dataset:
2023 Delaware Code › Title 5 - Banking › Chapter 11. TAXATION › § 1102. Statement of net income to be filed.

§ 1102. Statement of net income to be filed.
(a) For purposes of assessment, the president, treasurer or other proper officer of every banking organization, trust company or federal savings bank not headquartered in this State but maintaining branches in this State (or out-of-state bank that operates a resulting branch in this State), shall, in each year, file with the December 31 call report, a true statement, verified by oath, setting forth the net income of such banking organization, trust company or federal savings bank not headquartered in this State but maintaining branches in this State as defined in this chapter and such other true statement, in such form as shall be specified by the State Bank Commissioner, verified by oath setting forth the “taxable income” of such banking organization, trust company or federal savings bank not headquartered in this State but maintaining branches in this State as defined in this chapter. In the case of an out-of-state bank that operates more than one resulting branch in this State, the statement setting forth the taxable income of such resulting branches shall set forth the information required by the State Bank Commissioner on a basis that consolidates such information for all resulting branches of such out-of-state bank in this State. Any and all documents relating to the taxation of a banking organization, trust company or federal savings bank not headquartered in this State but maintaining branches in this State shall be true statements, verified by oath, by the president, treasurer or other proper officer of such banking organization, trust company or federal savings bank not headquartered in this State but maintaining branches in this State (or out-of-state bank that operates a resulting branch in this State).
(b) Every banking organization (or out-of-state bank that operates a resulting branch in this State), trust company or federal savings bank not headquartered in this State but maintaining branches in this State failing to comply with subsection (a) of this section 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. 104, §  4;  Code 1935, §  2318;  44 Del. Laws, c. 132, §  2;  5 Del. C. 1953, §  1103;  59 Del. Laws, c. 434, §  1;  64 Del. Laws, c. 160, §  2;  65 Del. Laws, c. 444, §  4;  68 Del. Laws, c. 303, §  29;  70 Del. Laws, c. 112, §  59;  70 Del. Laws, c. 327, §  32;  71 Del. Laws, c. 19, §  56;
2023 Delaware Code › Title 5 - Banking › Chapter 11. TAXATION › § 1103. Review of tax.

§ 1103. Review of tax.
The assessment of tax under this chapter shall be reviewed and corrected by the State Bank Commissioner upon application by any party interested, prior to the first day of May in the year in which the tax is levied, if, upon such application, good cause be shown for correction.
32 Del. Laws, c. 104, §  6;  Code 1935, §  2320;  44 Del. Laws, c. 132, §  3;  5 Del. C. 1953, §  1105;  59 Del. Laws, c. 434, §  1;  61 Del. Laws, c. 82, §§  2, 3;  64 Del. Laws, c. 160, §  3;  65 Del. Laws, c. 444, §  4;  66 Del. Laws, c. 23, §  3;  66 Del. Laws, c. 378, §  1;  70 Del. Laws, c. 327, §  33;
2023 Delaware Code › Title 5 - Banking › Chapter 11. TAXATION › § 1106. Disposition of taxes.

§ 1106. Disposition of taxes.
All moneys collected or received under this chapter shall be the moneys of the State, and the State Bank Commissioner shall pay all amounts so collected and received into the General Fund of the State Treasury.
32 Del. Laws, c. 104, §  11;  Code 1935, §  2325;  42 Del. Laws, c. 77, §§  1, 2;  5 Del. C. 1953, §  1110;  59 Del. Laws, c. 434, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 11. TAXATION › § 1107. Duties of Attorney General.

§ 1107. Duties of Attorney General.
The Attorney General shall act as the legal representative of the State in all actions or proceedings had under this chapter, and shall render legal assistance to the State Bank Commissioner in executing the provisions hereof.
32 Del. Laws, c. 104, §  12;  Code 1935, §  2326;  5 Del. C. 1953, §  1111;  59 Del. Laws, c. 434, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 11. TAXATION › § 1109. State corporation income and other taxes; exemption.

§ 1109. State corporation income and other taxes; exemption.
Notwithstanding Title 30, all banking organizations, trust companies and federal savings banks not headquartered in this State but maintaining branches in this State being taxed in accordance with this chapter, shall be exempt from the state corporation income tax as of January 1, 1974, and the taxation of income of banking organizations, trust companies and federal savings banks not headquartered in this State but maintaining branches in this State under this chapter shall be in lieu of occupational taxes or taxes upon the income, capital, and assets of such banking organization, trust company or federal savings bank not headquartered in this State but maintaining branches in this State, except that no real estate owned or acquired by such banking organization, trust company or federal savings bank not headquartered in this State but maintaining branches in this State shall be exempt from taxation. Except for corporations making the election provided in § 1101(e) of this title, for purposes of this section, any subsidiary corporation of a banking organization or trust company, including any corporation treated as a subsidiary corporation by reason of § 1101(f) of this title, shall enjoy the same exemptions as are applicable to banking organizations and trust companies. A subsidiary corporation or a division of a bank or trust company engaged in activities authorized under § 761(a)(14) or § 1661(a)(14) of this title shall be taxed in the same manner as an entity engaged in such activities pursuant to Title 18.
59 Del. Laws, c. 434, §  1;  64 Del. Laws, c. 461, §  6;  65 Del. Laws, c. 444, §  4;  67 Del. Laws, c. 223, §  16;  68 Del. Laws, c. 303, §  33;  70 Del. Laws, c. 327, §§  40, 41;  71 Del. Laws, c. 25, §  34;
2023 Delaware Code › Title 5 - Banking › Chapter 11. TAXATION › § 1110. Severability.

§ 1110. Severability.
If any provision of this chapter or the application of any section or part thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of this chapter which can be given effect without the invalid provision or application.
64 Del. Laws, c. 442, §  2;  64 Del. Laws, c. 461, §  8;
2023 Delaware Code › Title 5 - Banking › Chapter 11. TAXATION › § 1111. Period of limitation upon assessments.

§ 1111. Period of limitation upon assessments.
(a) Except as otherwise provided in this section, the amount of tax imposed by this chapter shall be assessed within 3 years after the last day prescribed for filing the return or, if later, the date the return was filed.
(b) In the case of a false or fraudulent return with intent to evade tax or a failure to file a return, the tax may be assessed at any time.
(c) When, before the expiration of the time prescribed in subsection (a) of this section for the assessment of tax, both the Commissioner and the taxpayer have consented in writing to its assessment after such time, the taxpayer may be assessed at any time before the expiration of the period agreed upon. The period so agreed upon may be extended by subsequent agreements in writing made before the expiration of the period previously agreed upon.
70 Del. Laws, c. 112, §  64;
2023 Delaware Code › Title 5 - Banking › Chapter 11. TAXATION › § 1112. Period of limitation on credit or refund.

§ 1112. Period of limitation on credit or refund.
Claim for a credit or refund of an overpayment of any tax imposed by this chapter shall be filed by the taxpayer with the Commissioner not later than 3 years from the last date prescribed for filing the return (including the time permitted in any agreements for the extension of time) or 2 years from the time the tax was paid, whichever of such periods is later, or if no return was filed by the taxpayer, not later than 2 years from the time the tax was paid.
70 Del. Laws, c. 112, §  64;
2023 Delaware Code › Title 5 - Banking › Chapter 11. TAXATION › § 1113. Secrecy of returns and information; penalty.

§ 1113. Secrecy of returns and information; penalty.
(a) Except in accordance with proper judicial order or as otherwise provided by law, it shall be unlawful for the Commissioner or any person who is an officer or employee in the Office of the Commissioner, or for any other officer or employee of this State who has access to tax returns or information from tax returns under this chapter, to disclose or make known to any person in any manner the amount of income or any particulars set forth or disclosed in any report or return required under this chapter. Notwithstanding the foregoing, the Commissioner may permit the Commissioner of Internal Revenue of the United States, the proper officer of this or any other state, the District of Columbia, or any possession or territory of the United States that imposes a tax, or the authorized representative of any of such officers, to inspect the tax return of any taxpayer under this chapter, and the Commissioner may furnish to any such officer, or such officer's authorized representative, an abstract of the tax return of any taxpayer under this chapter or supply such officer or such officer's authorized representative with information contained in any such tax return or disclosed by the report of examination or investigation of the income or return of such taxpayer, but only for the purpose of, and only to the extent necessary in, the administration of the tax laws of such jurisdiction; provided, however, that no such permission shall be granted, and no such information shall be furnished, to any such officer or the officer's representative unless the statutes of such jurisdiction grant substantially similar privileges to the Commissioner or the Commissioner's legal representative.
(b) Nothing in this section shall be construed to prohibit the publication of statistics classified so as to avoid identification of specific taxpayers, or to prohibit the disclosure of the tax return or return information of any taxpayer to such person or persons as the taxpayer may designate in a written request or consent to such disclosure.
(c) For purposes of this section, the term “officer or employee” shall include present and former officers and employees, and any person or persons employed or retained by the State on an independent contractor basis.
(d) Any violation of this section shall be a misdemeanor, punishable upon conviction by a fine not to exceed $1,000, or imprisonment not to exceed 6 months, or both. The Superior Court shall have exclusive original jurisdiction over such misdemeanor.
72 Del. Laws, c. 15, §  17;  73 Del. Laws, c. 24, §  2;
2023 Delaware Code › Title 5 - Banking › Chapter 11. TAXATION › § 1114. Abatements.

§ 1114. Abatements.
(a) The Commissioner is authorized to abate the unpaid portion of the assessment of any tax, interest, penalty, additional amount or addition to the tax, or any liability in respect thereof, which is:
(1) Excessive in amount;
(2) Assessed after the expiration of the period of limitations properly applicable thereto; or
(3) Erroneously or illegally assessed.
(b) The Commissioner is authorized to abate any portion (whether or not theretofore paid) of the assessment of any tax, interest, penalty, additional amount or additions to the tax, or any liability in respect thereof, if the Commissioner determines under uniform rules prescribed by the Commissioner that the administration and collection costs involved would not warrant collection of the amount due.
72 Del. Laws, c. 15, §  17;
2023 Delaware Code › Title 5 - Banking › Chapter 11. TAXATION › § 1115. Closing agreements.

§ 1115. Closing agreements.
The Commissioner, or any person authorized in writing by the Commissioner, is authorized to enter into an agreement in writing with any person relating to the liability of such person (or of another person for whom such person acts) with respect to any tax imposed under this chapter for any taxable period. Such agreement shall be final and conclusive, and, except upon a showing of fraud or malfeasance or misrepresentation of a material fact:
(1) The case shall not be reopened as to matters agreed upon or the agreement modified by any officer, employee or agent of this State; and
(2) In any suit, action or proceeding, such agreement, or any determination, assessment, collection, payment, abatement, refund or credit made in accordance therewith, shall not be annulled, modified, set aside or disregarded.
72 Del. Laws, c. 15, §  17;
2023 Delaware Code › Title 5 - Banking › Chapter 12. BANK OWNERSHIP AND PARTICIPATION IN EXPORT TRADING COMPANY ACT › § 1201. Participation by banks located in State in export trading companies.

§ 1201. Participation by banks located in State in export trading companies.
Notwithstanding any other provision of this chapter, banks regulated hereunder may invest or otherwise participate in the capital and financing of, management, direction and advising of export trade companies as defined and to the extent permitted by federal law 15 U.S.C. § 4001 et seq. Whatever may be done by such banks hereunder may be done directly or indirectly by contractual arrangements or by subsidiary and affiliate companies owned or controlled alone or together with other persons to the extent permitted by law, and may be delegated to their officers, employees or other trustees or persons appointed to such effect.
65 Del. Laws, c. 160, §  2;
2023 Delaware Code › Title 5 - Banking › Chapter 13. Banking Organization’s Power to Close Offices on Holidays and During Emergencies › § 1301. Definitions.

§ 1301. Definitions.
As used in this chapter, unless the context requires otherwise:
(1) “Officers” means those persons designated by the banking organization's board of directors or trustees to act for the banking organization.
(2) “Emergency” means any condition which interferes with the conduct of normal business operations at 1 or more of a banking organization's offices, or which poses an imminent or existing threat to the safety and security of persons or property, or both. Without limiting the generality of the foregoing, an emergency may arise as a result of any 1 or more of the following:
Fire, flood, wind, ice, rain or snow, labor dispute, power failure, transportation failure, war, nuclear incident, riot, civil commotion or other acts of lawlessness or violence.
(3) “Office” means any place at which a banking organization transacts business or conducts operations related to the transaction of business, and shall specifically include, without limiting the generality of the foregoing, automatic teller machines.
65 Del. Laws, c. 298, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 13. Banking Organization’s Power to Close Offices on Holidays and During Emergencies › § 1302. Closing on legal holidays.

§ 1302. Closing on legal holidays.
Any banking organization may, at its option, either close or remain open on Saturdays, Sundays and the legal holidays designated in § 501 of Title 1 and holidays observed by the Federal Reserve Bank for the district which includes Delaware. As to any banking organization electing to remain open on any of such holidays, such day or days shall not constitute a holiday within the meaning of the laws of this State, and such banking organization shall incur no liability by reason of remaining open on such holiday. If any banking organization elects to close on any such holidays, any act authorized, required or permitted to be performed at or by such banking organization may be performed on the next succeeding banking day and no liability or loss of rights of any kind shall result from remaining closed, notwithstanding any law of this State to the contrary. This section shall not operate to invalidate or prohibit the doing of any act by any person or banking organization on any of such holidays, and nothing in any laws of this State, in any manner whatsoever, shall affect the validity or render void or voidable the payment, certification or acceptance of a check or any other negotiable instrument or any other transaction by any other person or banking organization, because done or performed during any of such holidays, notwithstanding any other law of this State to the contrary.
65 Del. Laws, c. 298, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 13. Banking Organization’s Power to Close Offices on Holidays and During Emergencies › § 1303. Proclamation of emergency.

§ 1303. Proclamation of emergency.
Whenever the Governor declares a disaster or emergency under Chapter 31 of Title 20, banking organizations may close 1 or more or all of their offices when in the opinion of their officers such offices are directly or indirectly affected by such disaster or emergency.
65 Del. Laws, c. 298, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 13. Banking Organization’s Power to Close Offices on Holidays and During Emergencies › § 1304. Powers of officers.

§ 1304. Powers of officers.
Whenever the officers of a banking organization are of the opinion that an emergency exists which affects 1 or more of the organization's offices, they shall have the authority to close 1 or more or all such offices even though the Governor has not issued and does not issue a proclamation of emergency, and they may, but need not, provide that the business normally transacted at a closed office will be transacted at another office designated by the bank until further notice. The discretion of the officers in acting pursuant to this section, when exercised in good faith, shall not be questioned in any court or place or by any State agency.
65 Del. Laws, c. 298, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 13. Banking Organization’s Power to Close Offices on Holidays and During Emergencies › § 1305. Prompt notice required.

§ 1305. Prompt notice required.
A banking organization closing an office or offices pursuant to this chapter shall give as prompt notice to the State Bank Commissioner of its action as conditions will permit.
65 Del. Laws, c. 298, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 13. Banking Organization’s Power to Close Offices on Holidays and During Emergencies › § 1306. Immunity from liability.

§ 1306. Immunity from liability.
No banking organization and no director, officer or employee of a bank shall be liable to any person for any direct or indirect loss suffered by such person by reason of the organization's failure or inability to make the organization's premises and facilities available to such person, or by reason of the banking organization's failure to perform, or its delay in performing any contractual, statutory or other duty assumed by or imposed upon it in any capacity, when such failure, inability or delay is caused by an emergency as defined by this chapter.
65 Del. Laws, c. 298, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 13. Banking Organization’s Power to Close Offices on Holidays and During Emergencies › § 1307. Construction of chapter.

§ 1307. Construction of chapter.
This chapter shall be construed and applied as being in addition to and not in substitution for any other law of this State or of the United States excusing delays by banking organizations in the performance of duties or obligations, or authorizing the closing of banking organizations because of emergencies or conditions beyond the organization's control or otherwise.
65 Del. Laws, c. 298, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 14. FOREIGN BANKS › Subchapter I. Foreign Bank Branches, Foreign Bank Limited Purpose Branches and Foreign Bank Agencies › § 1401. Scope; construction.

§ 1401. Scope; construction.
This subchapter deals with conditions under which foreign banks may transact business in this State; it shall not be construed to limit the powers granted to any bank in this State to conduct its business.
65 Del. Laws, c. 444, §  6;
2023 Delaware Code › Title 5 - Banking › Chapter 14. FOREIGN BANKS › Subchapter I. Foreign Bank Branches, Foreign Bank Limited Purpose Branches and Foreign Bank Agencies › § 1402. When foreign banks may transact business in this State.

§ 1402. When foreign banks may transact business in this State.
(a) No foreign banks shall transact a banking business or maintain in this State an office for carrying on such business or any part thereof, except as otherwise provided in subchapter III of this chapter, unless such foreign bank has:
(1) Been authorized by the laws under which it was organized and by its charter to carry on such business;
(2) Furnished to the Commissioner such proof as to the nature and character of its business and as to its financial condition as the Commissioner may require; and
(3) Filed with the Commissioner an application containing the information required by § 1403 of this title and received a certificate of authority duly issued to it by the Commissioner as provided in § 1403 of this title.
(b) This section shall not be construed to prohibit foreign banks which do not maintain an office in this State for the transaction of the business from:
(1) Making loans or issuing letters of credit in this State secured by mortgages on real property, nor from contracting in this State with a banking organization to acquire from or through such banking organization a part interest or the entire interest in a loan or evidence of debt which such banking organization has heretofore or hereafter made, purchased or acquired, for its own account or otherwise, together with a like interest in any security or in any security instrument proposed to be given or heretofore or hereafter given to secure or evidence such loan or evidence of debt;
(2) Enforcing in this State obligations heretofore or hereafter acquired by it in the transaction of business outside of this State, or in the transaction of any business authorized by this section;
(3) Acquiring, holding, leasing, mortgaging, contracting with respect to, or otherwise protecting or conveying property in this State heretofore or hereafter assigned, transferred, mortgaged or conveyed to it as security for, or in whole or part, satisfaction of a loan or loans made by it or obligations made by it or obligations acquired by it in the transaction of business outside of this State, or in the transaction of any business authorized by this section; or
(4) Issuing letters of credit or otherwise guaranteeing the obligations of the State or any agency or political subdivision thereof.
65 Del. Laws, c. 444, §  6;  71 Del. Laws, c. 254, §  17;
2023 Delaware Code › Title 5 - Banking › Chapter 14. FOREIGN BANKS › Subchapter I. Foreign Bank Branches, Foreign Bank Limited Purpose Branches and Foreign Bank Agencies › § 1406. Reports of foreign bank; penalties.

§ 1406. Reports of foreign bank; penalties.
(a) Every foreign bank holding a certificate of authority pursuant to this subchapter shall at such times and in such form as the Commissioner shall prescribe, make written reports to the Commissioner under the oath of 1 of its officers, managers or agents transacting business in this State, showing the amount of its assets and liabilities and containing such other matters as the Commissioner shall prescribe. If any such foreign bank shall fail to make such report as directed by the Commissioner, or if any such report shall contain any false statement knowingly made, the same shall be grounds for revocation of the foreign bank's certificate of authority.
(b) Each foreign bank holding a certificate of authority pursuant to this subchapter shall cause to be kept, at its place of business in this State, correct and complete books and records of account of its business operations transacted by such foreign bank branch, foreign bank limited purpose branch or foreign bank agency, and shall make such records available to the Commissioner, upon request, at any time during regular business hours of the foreign bank branch, foreign bank limited purpose branch or foreign bank agency. Such foreign bank branch, foreign bank limited purpose branch or foreign bank agency shall also make available to the Commissioner, upon request, current copies of the charter and bylaws of the foreign bank, and minutes of the proceedings of its directors or committees relative to the operations of the foreign bank branch, foreign bank limited purpose branch or foreign bank agency. Any failure to keep such records as aforesaid or any refusal to produce such records or other documents upon request by the Commissioner shall be grounds for revocation of the foreign bank's certificate of authority.
65 Del. Laws, c. 444, §  6;  70 Del. Laws, c. 112, §  73;  72 Del. Laws, c. 35, §  13;
2023 Delaware Code › Title 5 - Banking › Chapter 14. FOREIGN BANKS › Subchapter I. Foreign Bank Branches, Foreign Bank Limited Purpose Branches and Foreign Bank Agencies › § 1407. Rules, regulations and orders.

§ 1407. Rules, regulations and orders.
In addition to any other authority granted under this title, the Commissioner may adopt rules and regulations and issue orders under this subchapter for the following purposes:
(1) To prescribe information or forms required in connection with an application pursuant to § 1403(a) of this title;
(2) To authorize permissible activities of foreign bank branches, foreign bank limited purpose branches or foreign bank agencies pursuant to § 1404 of this title;
(3) To prescribe the nature and amount of assets required to be maintained in this State pursuant to § 1405 of this title and to establish procedures governing the determination thereof;
(4) To establish procedures in connection with approvals pursuant to §§ 1403 and 1408 of this title and the filing of required reports pursuant to § 1406 of this title; and
(5) To issue orders under § 1410 of this title and establish procedures governing such issuances.
65 Del. Laws, c. 444, §  6;  70 Del. Laws, c. 112, §§  74, 75;  72 Del. Laws, c. 35, §  14;
2023 Delaware Code › Title 5 - Banking › Chapter 14. FOREIGN BANKS › Subchapter I. Foreign Bank Branches, Foreign Bank Limited Purpose Branches and Foreign Bank Agencies › § 1408. Change of location, name or business; transfer or assignment of certificate of authority.

§ 1408. Change of location, name or business; transfer or assignment of certificate of authority.
(a) Any foreign bank holding a certificate of authority pursuant to this subchapter may make a written application to the Commissioner for leave to do 1 or more of the following:
(1) To change its place of business from the place designated in the certificate of authority to another place in this State. An application for such change shall be accompanied by a filing fee of $500.
(2) To change its corporate name or the duration of its corporate existence if such change has been effected under the laws under which it was organized.
(b) No certificate of authority issued by the Commissioner pursuant to this subchapter shall be transferable or assignable without approval by the Commissioner.
65 Del. Laws, c. 444, §  6;  71 Del. Laws, c. 254, §  21;
2023 Delaware Code › Title 5 - Banking › Chapter 14. FOREIGN BANKS › Subchapter I. Foreign Bank Branches, Foreign Bank Limited Purpose Branches and Foreign Bank Agencies › § 1409. Termination of existence.

§ 1409. Termination of existence.
In the event a foreign bank holding a certificate of authority pursuant to this subchapter is dissolved or its authority or existence is otherwise terminated or cancelled under the laws under which it was organized, a certificate of the official responsible for maintaining records of banks of the jurisdiction of organization of such foreign bank attesting to the occurrence of any such event, or a certified copy of an order or decree of a court of such jurisdiction directing the dissolution of such foreign bank, the termination of its existence or the cancellation of its authority shall be delivered to the Commissioner. The filing of the certificate, order or decree shall have the same effect as the revocation of its certificate of authority under § 1410 of this title. The Commissioner shall continue as agent of the foreign bank upon whom process against it may be served in connection with matters out of this subchapter prior to the filing of such certificate, order or decree.
65 Del. Laws, c. 444, §  6;
2023 Delaware Code › Title 5 - Banking › Chapter 14. FOREIGN BANKS › Subchapter I. Foreign Bank Branches, Foreign Bank Limited Purpose Branches and Foreign Bank Agencies › § 1410. Revocation of certificate of authority.

§ 1410. Revocation of certificate of authority.
(a) Upon the determination of the Commissioner that any foreign bank holding a certificate of authority pursuant to this subchapter is engaging in any activity not permitted by § 1404 of this title or is not in a safe and satisfactory condition; then, in any such event, the Commissioner may issue an order to such foreign bank requiring it by a date certain to take the steps set forth in such order to cure such violation.
(b) Upon the determination of the Commissioner, after due notice and an opportunity to be heard has been afforded, that any foreign bank holding a certificate of authority pursuant to this subchapter has failed to timely comply with any order issued under subsection (a) of this section, the Commissioner shall, by order effective no earlier than 10 nor later than 30 days after issuance, revoke such foreign bank's certificate of authority. Upon the effective date of such order, and so long as such order has not been suspended or set aside pursuant to subsection (c) of this section or withdrawn by the Commissioner, such foreign bank shall cease all business activity of any kind conducted by such foreign bank branch, foreign bank limited purpose branch or foreign bank agency.
(c) The Court of Chancery of the State shall have exclusive original jurisdiction of any judicial review of an order issued under subsection (b) of this section, any other provision of law notwithstanding. Such review may be sought by the foreign bank affected at any time within 1 year of the date of such order. Review of such an order shall be de novo and such order will be specifically enforced by the Court of Chancery upon a final determination that at the time of its issuance the order was valid in all respects. The Court of Chancery, may, in the exercise of its equitable jurisdiction in appropriate cases, suspend the operation of an order issued under subsection (b) of this section while judicial review of such order proceeds. An order issued under subsection (a) of this section shall not be subject to judicial review.
65 Del. Laws, c. 444, §  6;  70 Del. Laws, c. 112, §  76;  71 Del. Laws, c. 254, §  22;  72 Del. Laws, c. 35, §  15;
2023 Delaware Code › Title 5 - Banking › Chapter 14. FOREIGN BANKS › Subchapter I. Foreign Bank Branches, Foreign Bank Limited Purpose Branches and Foreign Bank Agencies › § 1411. Applicability of other laws.

§ 1411. Applicability of other laws.
Every foreign bank holding a certificate of authority pursuant to this subchapter shall be deemed and held to be subject to this title and any other law or laws of this State making provision for the regulation of banks and trust companies where the same are not inconsistent with the express provisions of this subchapter including, without limitation, §§ 131 and 132 of this title. Notwithstanding the foregoing, every foreign bank holding a certificate of authority pursuant to this subchapter shall be exempt from the requirements of and any prohibitions contained in subchapter XVI of Chapter 1 of Title 8; and the prohibition of § 901 of this title shall not apply to a foreign bank holding a certificate of authority pursuant to this subchapter.
65 Del. Laws, c. 444, §  6;  79 Del. Laws, c. 122, §  9;
2023 Delaware Code › Title 5 - Banking › Chapter 14. FOREIGN BANKS › Subchapter I. Foreign Bank Branches, Foreign Bank Limited Purpose Branches and Foreign Bank Agencies › § 1412. Actions maintained by foreign bank.

§ 1412. Actions maintained by foreign bank.
In maintaining any suit, action or proceeding in this State, a foreign bank holding a certificate of authority pursuant to this subchapter shall maintain such suit, action or proceeding in like manner and subject to the same limitations as are applicable in the case of a suit, action or proceeding maintained by a domestic banking organization, except as otherwise prescribed by statute.
65 Del. Laws, c. 444, §  6;
2023 Delaware Code › Title 5 - Banking › Chapter 14. FOREIGN BANKS › Subchapter I. Foreign Bank Branches, Foreign Bank Limited Purpose Branches and Foreign Bank Agencies › § 1413. Actions maintained against foreign bank.

§ 1413. Actions maintained against foreign bank.
(a) A suit, action or proceeding against a foreign bank holding a certificate of authority pursuant to this subchapter may be maintained by a resident of this State for any cause of action. For purposes of this subsection, the term “resident of this State” shall include any corporation formed under any law of this State.
(b) Except as otherwise provided in this subchapter, a suit, action or proceeding against a foreign bank holding a certificate of authority pursuant to this subchapter may be maintained by another foreign corporation or foreign bank or by a nonresident in the following cases only:
(1) Where the action is brought to recover damages for the breach of a contract made or to be performed within this State, or relating to property situated within this State at the time of the making of the contract;
(2) Where the subject matter of the litigation is situated within this State;
(3) Where the cause of action arose within this State, except where the object of the action or proceeding is to affect the title of real property situated outside the State;
(4) Where the suit, action or proceeding is based on a liability for acts done within this State by a foreign bank holding a certificate of authority pursuant to this subchapter;
(5) Where the defendant is a foreign bank holding a certificate of authority pursuant to this subchapter doing business in this State.
(c) The limitations contained in subsection (b) of this section do not apply to a corporation formed and existing under the laws of the United States and which maintains an office in this State.
65 Del. Laws, c. 444, §  6;
2023 Delaware Code › Title 5 - Banking › Chapter 14. FOREIGN BANKS › Subchapter I. Foreign Bank Branches, Foreign Bank Limited Purpose Branches and Foreign Bank Agencies › § 1414. Registered office; registered agent; filing of changes.

§ 1414. Registered office; registered agent; filing of changes.
(a) A foreign bank holding a certificate of authority pursuant to this subchapter shall have and continuously maintain in this State:
(1) A registered office which may be, but need not be, the same as its place of business in this State; and
(2) A registered agent, which agent may be either an individual, resident in this State, whose business office is identical with such registered office, or a corporation authorized to transact business in this State having a business office identical with such registered office.
(b) A registered agent may at any time vacate its office as registered agent by filing in the office of the Commissioner a statement setting forth its resignation and the effective date thereof, which shall not be less than 60 days after the date of filing. A copy of the statement shall be served on the foreign bank by the registered agent so resigning by registered or certified mail addressed to such foreign bank at its principal office as such is known to such resigning agent and directed to the attention of the secretary or other comparable officer of such corporation at least 30 days prior to the date of filing of said certificate.
(c) A foreign bank may from time to time change the address of its registered office; and shall change its registered agent if the office of the registered agent becomes vacant for any reason or if its registered agent becomes disqualified or incapacitated to act, or if it revokes the appointment of its registered agent. Any such change of registered office or registered agent may be effected by filing in the office of the Commissioner duplicate originals of a statement setting forth the details with respect to such change and the effective date thereof.
65 Del. Laws, c. 444, §  6;
2023 Delaware Code › Title 5 - Banking › Chapter 14. FOREIGN BANKS › Subchapter I. Foreign Bank Branches, Foreign Bank Limited Purpose Branches and Foreign Bank Agencies › § 1415. Service of process, notice or demand on foreign bank; service on registered agent; service on Commissioner.

§ 1415. Service of process, notice or demand on foreign bank; service on registered agent; service on Commissioner.
(a) Service of process in any suit, action or proceeding or service of any notice or demand required or permitted by law to be served on a foreign corporation may be made on a foreign bank holding a certificate of authority pursuant to this subchapter by service thereof on the registered agent of such foreign bank. Whenever any foreign bank holding a certificate of authority fails to appoint or maintain a registered agent upon whom service of legal process or service of any such notice or demand may be had, or whenever such registered agent cannot with reasonable diligence be found at the registered office of such foreign bank, or whenever the certificate of authority of any such foreign bank is revoked, then in every such case the Commissioner shall be irrevocably authorized as the agent and representative of such foreign bank to accept service of any process or service of any notice or demand required or permitted by law to be served on such foreign bank. Service on the Commissioner of any such process, notice or demand against any such foreign bank shall be made by delivering to and leaving with the Commissioner, or with any official having charge of the banking department of the Commissioner's office, duplicate copies of such process, notice or demand. If any process, notice or demand is served on the Commissioner, a copy thereof shall immediately be forwarded by registered mail addressed to such foreign bank at its principal office as the same appears on the Commissioner's records.
(b) Nothing in this subchapter limits or affects the right to serve any process, notice or demand required or permitted by law to be served upon a foreign corporation in any other manner now or hereafter permitted by law.
(c) The Commissioner shall keep a record of all processes, notice and demands served pursuant to this section and shall record therein the time of such service and the action taken with reference thereto.
65 Del. Laws, c. 444, §  6;
2023 Delaware Code › Title 5 - Banking › Chapter 14. FOREIGN BANKS › Subchapter I. Foreign Bank Branches, Foreign Bank Limited Purpose Branches and Foreign Bank Agencies › § 1416. Examinations, cooperative agreements, fees.

§ 1416. Examinations, cooperative agreements, fees.
(a) The Commissioner may make such examination of any foreign bank branch, foreign bank limited purpose branch or foreign bank agency in this State as the Commissioner may deem necessary to determine compliance with the laws of this State and operation in a safe and sound manner. This title shall apply to such examinations.
(b) The Commissioner, as a home state regulatory authority, may enter into cooperative agreements with the appropriate host state regulatory authorities for the periodic examination of and otherwise to facilitate a single point of contact with respect to any foreign bank branch, foreign bank limited purpose branch or foreign bank agency in this State and any such other entities operating in other United States jurisdictions. Additionally, the Commissioner, as a host state regulatory authority, may enter into cooperative agreements with the appropriate home state regulatory authorities for the periodic examination of and otherwise to facilitate a single point of contact with respect to any foreign bank branch, foreign bank limited purpose branch or foreign bank agency operating in this State, and may accept reports of examination and other records from a home state regulatory authority of such entities in lieu of conducting the Commissioner's own examination of such entities operating in this State. The Commissioner, as a home state or host state regulatory authority, may enter into joint actions, including with respect to asset maintenance, pledge of assets, separation of assets and liquidation, with other regulatory authorities with respect to foreign bank branches, foreign bank limited purpose branches or foreign bank agencies in this State, or may take such actions independently with notice to the appropriate home state or host state regulatory authorities to carry out the Commissioner's responsibilities to assure the safety and soundness of any such entity in this State and to assure compliance with applicable banking laws of this State. For purposes of this subsection, the term “home state” in reference to a foreign bank has the meaning set forth in § 5(c) of the International Banking Act of 1978, as amended, at 12 U.S.C. § 3103(c), and the term “host state” means a State other than the home state.
(c) A foreign bank holding a certificate of authority pursuant to this subchapter may be assessed and, if assessed, shall pay supervisory and examination fees in accordance with the laws of this State and regulations of the Commissioner.
71 Del. Laws, c. 254, §  23;  72 Del. Laws, c. 35, §§  16, 17;
2023 Delaware Code › Title 5 - Banking › Chapter 14. FOREIGN BANKS › Subchapter II. Foreign Bank Representative Office › § 1421. License required.

§ 1421. License required.
No person, copartnership, association, corporation or other entity shall establish or maintain a representative office in this State on behalf of one or more foreign banks unless the foreign bank to be represented has obtained a license from the Commissioner.
65 Del. Laws, c. 444, §  6;
2023 Delaware Code › Title 5 - Banking › Chapter 14. FOREIGN BANKS › Subchapter II. Foreign Bank Representative Office › § 1422. Application for license; fee; findings required for issuance.

§ 1422. Application for license; fee; findings required for issuance.
(a) The application for a license shall contain information and be accompanied by a reasonable fee as determined by the Commissioner.
(b) The Commissioner shall issue a license to a foreign bank to establish and maintain a representative office if the Commissioner finds:
(1) The foreign bank and the proposed management of the representative office are each of good character and sound financial standing;
(2) The management of the foreign bank and the proposed management of the representative office are adequate; and
(3) The convenience and needs of persons to be served by the proposed representative office will be promoted.
65 Del. Laws, c. 444, §  6;  71 Del. Laws, c. 254, §  24;
2023 Delaware Code › Title 5 - Banking › Chapter 14. FOREIGN BANKS › Subchapter II. Foreign Bank Representative Office › § 1423. License provisions.

§ 1423. License provisions.
Any foreign bank holding a license pursuant to this subchapter may establish and maintain a representative office at the location stated therein and may engage thereat in representational functions on behalf of the foreign bank, but may not conduct a banking business. A license issued pursuant to this subchapter shall remain in effect until surrendered or revoked.
65 Del. Laws, c. 444, §  6;
2023 Delaware Code › Title 5 - Banking › Chapter 14. FOREIGN BANKS › Subchapter II. Foreign Bank Representative Office › § 1424. Records; reports; fee.

§ 1424. Records; reports; fee.
(a) Each foreign bank which is licensed to establish and maintain a representative office shall make, keep and preserve at such office or at such other place as determined by the Commissioner, such books, accounts and other records relating to the business of such office as the Commissioner may require.
(b) Each foreign bank which is licensed to establish and maintain a representative office shall file such reports, accompanied by a reasonable fee, as required and determined by the Commissioner.
65 Del. Laws, c. 444, §  6;
2023 Delaware Code › Title 5 - Banking › Chapter 14. FOREIGN BANKS › Subchapter II. Foreign Bank Representative Office › § 1425. Revocation of license.

§ 1425. Revocation of license.
If the Commissioner finds:
(1) The licensee or its representative has violated any provision of this subchapter or any law, rule or regulation of this State; or
(2) Any fact or condition exists which, if it had existed at the time of the original application for such license, would have resulted in the Commissioner refusing to issue such license; then, after notice to the foreign bank and a reasonable opportunity to be heard, the Commissioner may revoke such license.
65 Del. Laws, c. 444, §  6;
2023 Delaware Code › Title 5 - Banking › Chapter 14. FOREIGN BANKS › Subchapter II. Foreign Bank Representative Office › § 1426. Applicability of other laws.

§ 1426. Applicability of other laws.
Every foreign bank holding a license pursuant to this subchapter shall be deemed and held to be subject to this title and any other law or laws of this State making provision for the regulation of banks and trust companies where the same are not inconsistent with the express provisions of this subchapter including, without limitation, § 131 and § 132 of this title and subchapter I of this chapter for the regulation of foreign banks operating foreign bank branches, foreign bank limited purpose branches and foreign bank agencies in this State.
71 Del. Laws, c. 254, §  25;  72 Del. Laws, c. 35, §  18;
2023 Delaware Code › Title 5 - Banking › Chapter 14. FOREIGN BANKS › Subchapter III. Merger of Delaware Banks and Foreign Banks; Resulting Branch Offices of Foreign Banks › § 1430. Scope.

§ 1430. Scope.
This subchapter deals with the conditions under which Delaware banks may merge with or into foreign banks, and under which foreign banks may operate resulting branch offices in this State.
71 Del. Laws, c. 254, §  26;
2023 Delaware Code › Title 5 - Banking › Chapter 14. FOREIGN BANKS › Subchapter III. Merger of Delaware Banks and Foreign Banks; Resulting Branch Offices of Foreign Banks › § 1431. Definitions.

§ 1431. Definitions.
(a) “Branch office,” “Delaware bank,” “Delaware state bank,” “existing Delaware bank,” “merger,” “merging bank,” “out-of-state bank” and “resulting” shall have the meanings ascribed to them in § 795 of this title.
(b) “Home state” in reference to a foreign bank has the meaning set forth in § 5(c) of the International Banking Act of 1978, as amended, at 12 U.S.C. § 3103(c).
(c) “Out-of-state foreign bank” means a foreign bank whose home state is a state other than this State.
71 Del. Laws, c. 254, §  26;
2023 Delaware Code › Title 5 - Banking › Chapter 14. FOREIGN BANKS › Subchapter III. Merger of Delaware Banks and Foreign Banks; Resulting Branch Offices of Foreign Banks › § 1432. Authority for merger.

§ 1432. Authority for merger.
An existing Delaware bank may merge with or into an out-of-state foreign bank, and an out-of-state foreign bank may merge with or into a Delaware bank, in substantially the same manner and under substantially the same terms and conditions as an existing Delaware bank may merge with or into an out-of-state bank, or an out-of-state bank may merge with or into a Delaware bank, pursuant to subchapter VII of Chapter 7 of this title.
71 Del. Laws, c. 254, §  26;