# Delaware SB 16: AN ACT TO AMEND TITLE 5 OF THE DELAWARE CODE RELATING TO DELAWARE BANKS AND TRUST COMPANIES. Delaware SB 16, AN ACT TO AMEND TITLE 5 OF THE DELAWARE CODE RELATING TO DELAWARE BANKS AND TRUST COMPANIES., is a 153rd General Assembly (2024–2026) Senate bill sponsored by Spiros Mantzavinos (Democratic); status failed, last action 2026-07-06 (SS 1 for SB 16 - Signed by Governor); PRIA reads it as touching household money (as of 2026-10-12). - Canonical: https://policyrisk.com/state-bill/DE-SB16-153 - As of: 2026-10-12 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: Delaware SB 16 - State: Delaware - Session: 153rd General Assembly (2024–2026) - Title: AN ACT TO AMEND TITLE 5 OF THE DELAWARE CODE RELATING TO DELAWARE BANKS AND TRUST COMPANIES. - Status: failed - Chamber: Senate - Introduced: 2026-03-23 - Last action: 2026-07-06, SS 1 for SB 16 - Signed by Governor - Sponsor: Spiros Mantzavinos (Democratic) - Cosponsors: 4 - Touches household money: yes - Economic provisions PRIA read: 7 ## Summary No summary available. ## Bill overview: provisions PRIA read - Banks can manage clients’ digital assets: benefit, low. The law includes digital assets as personal property under the affected banking and trust rules. Covered Delaware banks, trust companies, and savings banks can hold and manage these assets for clients, trusts, and estates. Digital assets are values recorded on secure, shared digital ledgers. The vi… - Trust services continue through bank changes: benefit, low. After covered bank or trust company mergers, trustee, executor, guardian, and related roles automatically transfer to the resulting institution. These roles also remain with the resulting institution after covered conversions, including national banks becoming Delaware state banks. After a merger,… - Banks gain board and filing flexibility: benefit, low. Covered banks, trust companies, and savings banks can state their board size or a method for setting it in founding documents. Boards must still have at least five directors, and bylaws must state how many directors are needed for meetings. Some covered corporations can list an officer’s work, post… - Banks gain more flexible charter rules: benefit, low. The Commissioner can authorize covered banks and trust companies to use all or only some available powers. Founding documents or the Commissioner’s order can define those limits. The Commissioner can tailor charter application requirements to the risks of proposed activities. Limited-purpose trust… - Out-of-state institutions gain Delaware charter options: benefit, low. Out-of-state trust companies can merge with Delaware state trust companies to form a Delaware state trust company, with written Commissioner approval. Out-of-state state banks can convert to Delaware state banks; out-of-state trust companies can convert to Delaware limited-purpose trust companies.… - Trust providers gain cross-state service options: benefit, low. Delaware trust companies resulting from interstate mergers or conversions can operate out-of-state offices with the Commissioner’s prior written approval. Activities at those offices must be allowed by both Delaware and the host state. Out-of-state banks and trust companies can serve as trustees, e… - Voting stakes trigger bank control rules: cost, low. Control of a Delaware-chartered bank or trust company includes power to direct management or policies, or vote at least 25% of any voting share class. Buying at least 10% of a voting share class creates a presumption of control in either of two cases. One is when any voting share class is registere… ## Sponsors and cosponsors - Sponsor: Spiros Mantzavinos (Democratic), Senate - Cosponsor: William Bush (Democratic), House - Cosponsor: Brian Pettyjohn (Republican), Senate - Cosponsor: Cyndie Romer (Democratic), House - Cosponsor: Jeffrey N. Spiegelman (Republican), House ## Actions (15) - 2026-07-06: SS 1 for SB 16 - Signed by Governor (Governor) - 2026-06-18: SS 1 for SB 16 - Passed By House. Votes: 36 YES 5 ABSENT (House) - 2026-06-16: SS 1 for SB 16 - Reported Out of Committee (Appropriations) in House with 6 On Its Merits (House) - 2026-05-05: SS 1 for SB 16 - Assigned to Appropriations Committee in House (House) - 2026-05-05: SS 1 for SB 16 - Reported Out of Committee (Economic Development/Banking/Insurance & Commerce) in House with 9 On Its Merits (House) - 2026-04-30: SS 1 for SB 16 - Assigned to Economic Development/Banking/Insurance & Commerce Committee in House (House) - 2026-04-23: SS 1 for SB 16 - Passed By Senate. Votes: 20 YES 1 NOT VOTING (Senate) - 2026-04-23: SS 1 for SB 16 - - Passed By Senate. Votes: 18 YES 3 ABSENT (Senate) - 2026-04-23: Substituted in Senate by SS 1 for SB 16 (Senate) - 2026-04-22: SS 1 for SB 16 - Reported Out of Committee (Finance) in Senate with 1 Favorable, 3 On Its Merits (Senate) - 2026-04-21: Substituted in Senate by SS 1 for SB 16 (Senate) - 2026-04-15: Assigned to Finance Committee in Senate (Senate) - 2026-04-15: Reported Out of Committee (Banking, Business, Insurance & Technology) in Senate with 5 Favorable, 1 On Its Merits (Senate) - 2026-04-13: Amendment SA 1 to SB 16 - Introduced and Placed With Bill (Senate) - 2026-03-23: Introduced and Assigned to Banking, Business, Insurance & Technology Committee in Senate (Senate) ## Bill text - Current, 2026-03-23: [HTML](https://legis.delaware.gov/json/BillDetail/GenerateHtmlDocument?legislationId=142987&legislationTypeId=1&docTypeId=2) ## Related bills - HS 1 for HB 449: AN ACT TO AMEND TITLE 24 OF THE DELAWARE CODE RELATING TO THE DIETITIAN/NUTRITIONIST LICENSURE ACT. (passed house) - HB 357: AN ACT TO AMEND TITLES 10 AND 13 OF THE DELAWARE CODE RELATING TO THE DUTY TO SUPPORT POOR PERSONS. (signed) - SB 279: AN ACT TO AMEND TITLE 14 OF THE DELAWARE CODE RELATING TO SCHOOL-BASED OCCUPATIONAL THERAPISTS. (vetoed) - HB 393: AN ACT TO AMEND TITLE 26 OF THE DELAWARE CODE RELATING TO PROTECTIONS FOR PUBLIC UTILITY CONSUMERS. (vetoed) - SB 231: AN ACT TO AMEND TITLE 14 OF THE DELAWARE CODE RELATING TO SCHOOL SOCIAL WORKERS. (vetoed) - HB 356: AN ACT TO AMEND TITLE 16 OF THE DELAWARE CODE RELATING TO PFAS IN FIREFIGHTING FOAM AND EQUIPMENT. (failed) ## Sources - [Current (HTML)](https://legis.delaware.gov/json/BillDetail/GenerateHtmlDocument?legislationId=142987&legislationTypeId=1&docTypeId=2) ## Related - [HS 1 for HB 449: AN ACT TO AMEND TITLE 24 OF THE DELAWARE CODE RELATING TO THE DIETITIAN/NUTRITI…](https://policyrisk.com/state-bill/DE-HS1FORHB449-153) - [HB 357: AN ACT TO AMEND TITLES 10 AND 13 OF THE DELAWARE CODE RELATING TO THE DUTY TO S…](https://policyrisk.com/state-bill/DE-HB357-153) - [SB 279: AN ACT TO AMEND TITLE 14 OF THE DELAWARE CODE RELATING TO SCHOOL-BASED OCCUPATI…](https://policyrisk.com/state-bill/DE-SB279-153) - [HB 393: AN ACT TO AMEND TITLE 26 OF THE DELAWARE CODE RELATING TO PROTECTIONS FOR PUBLI…](https://policyrisk.com/state-bill/DE-HB393-153) - [SB 231: AN ACT TO AMEND TITLE 14 OF THE DELAWARE CODE RELATING TO SCHOOL SOCIAL WORKERS.](https://policyrisk.com/state-bill/DE-SB231-153) - [HB 356: AN ACT TO AMEND TITLE 16 OF THE DELAWARE CODE RELATING TO PFAS IN FIREFIGHTING…](https://policyrisk.com/state-bill/DE-HB356-153) - [Delaware bills](https://policyrisk.com/states/delaware/bills) - [Delaware state hub](https://policyrisk.com/states/delaware) - [All state legislation](https://policyrisk.com/state-bills) Source: PRIA, https://policyrisk.com/state-bill/DE-SB16-153 (as of 2026-10-12).