# Delaware SS 1 for SB 16: AN ACT TO AMEND TITLE 5 OF THE DELAWARE CODE RELATING TO DELAWARE BANKS AND TRUST COMPANIES. Delaware SS 1 for 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 signed, last action 2026-07-06 (Signed by Governor) (as of 2026-10-19). - Canonical: https://policyrisk.com/state-bill/DE-SS1FORSB16-153 - As of: 2026-10-19 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: Delaware SS 1 for 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: signed - Chamber: Senate - Introduced: 2026-04-21 - Last action: 2026-07-06, Signed by Governor - Sponsor: Spiros Mantzavinos (Democratic) - Cosponsors: 5 - Touches household money: no - Roll calls: 2 (56 yes, 0 no in all) - Economic provisions PRIA read: 8 ## Summary No summary available. ## Bill overview: provisions PRIA read - Banks can manage customers’ digital assets: benefit, low. Digital assets now count as personal property that Delaware banks can manage as trustees or other fiduciaries. Digital assets include value recorded on a cryptographically secured shared ledger or similar technology, including virtual currency. Virtual currency serves as a means of exchange, unit o… - More banks can manage Delaware trusts: benefit, low. Out-of-state banks and trust companies can serve as Delaware trustees, executors, guardians, or other fiduciaries. Their home-state law and governing documents must authorize the role, and their home state must grant like powers to Delaware institutions. Appointments must come through a Delaware-pr… - Trust roles continue after bank changes: benefit, low. After covered mergers, trustee, executor, guardian, and other fiduciary appointments transfer automatically to the resulting bank or trust company. After covered conversions, these roles remain with the resulting institution. Related nominations, rights, and interests also continue without a court… - Delaware trust companies can expand interstate: benefit, low. Delaware state trust companies can operate offices in other states through qualifying interstate mergers or conversions. The Delaware trust company must be the resulting institution. The Commissioner must give prior written consent. Activities at those offices must be allowed under both Delaware la… - More flexibility for Delaware trust companies: benefit, low. The State Bank Commissioner can approve banks and trust companies with some or all legal powers, using risk-based applications. These powers can be limited by the company’s articles or a Commissioner order. This authority took effect at enactment, with implementation on the earlier of one year late… - More paths into Delaware bank charters: benefit, low. The law expands interstate mergers, consolidations, and conversions, including national-bank conversions and out-of-state institutions becoming Delaware banks or trust companies. Transactions require Commissioner approval and compliance with applicable federal or home-state law, including protectio… - Control rules for bank stock buyers: cost, low. The law revises when buying 10% or more of a class of voting stock is presumed to give control. It covers Delaware-chartered banks and trust companies. The presumption applies when the class is registered under federal securities law. It also applies when no other person owns a greater proportion o… - Updated board and filing rules for banks: mixed, low. Covered Delaware banks, trust companies, and savings banks must have at least five directors. Their articles must state the board size or a method for setting it. Bylaws must state how many directors must attend for the board to conduct business. Organization filings must include officers’ business… ## Sponsors and cosponsors - Sponsor: Spiros Mantzavinos (Democratic), Senate - Cosponsor: William Bush (Democratic), House - Cosponsor: William J. Carson (Democratic), House - Cosponsor: Daniel B. Short (Republican), House - Cosponsor: Brian Pettyjohn (Republican), Senate - Cosponsor: Jeffrey N. Spiegelman (Republican), House ## Roll call votes | Date | Chamber | Motion | Result | Yes | No | Other | | --- | --- | --- | --- | --- | --- | --- | | 2026-06-18 | House | Passed (2/3 required) | pass | 36 | 0 | | | 2026-04-23 | Senate | Passed (2/3 required) | pass | 20 | 0 | | ## Actions (11) - 2026-07-06: Signed by Governor (Governor) - 2026-06-18: Passed By House. Votes: 36 YES 5 ABSENT (House) - 2026-06-16: Reported Out of Committee (Appropriations) in House with 6 On Its Merits (House) - 2026-05-05: Assigned to Appropriations Committee in House (House) - 2026-05-05: Reported Out of Committee (Economic Development/Banking/Insurance & Commerce) in House with 9 On Its Merits (House) - 2026-04-30: Assigned to Economic Development/Banking/Insurance & Commerce Committee in House (House) - 2026-04-23: Passed By Senate. Votes: 20 YES 1 NOT VOTING (Senate) - 2026-04-23: Amendment SA 1 to SS 1 - Passed By Senate. Votes: 18 YES 3 ABSENT (Senate) - 2026-04-23: Amendment SA 1 to SS 1 - Introduced and Placed With Bill (Senate) - 2026-04-22: Reported Out of Committee (Finance) in Senate with 1 Favorable, 3 On Its Merits (Senate) - 2026-04-21: Adopted in lieu of the original bill SB 16, and Assigned to Finance Committee in Senate (Senate) ## Bill text - Current, 2026-04-21: [HTML](https://legis.delaware.gov/json/BillDetail/GenerateHtmlDocument?legislationId=143126&legislationTypeId=6&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 231: AN ACT TO AMEND TITLE 14 OF THE DELAWARE CODE RELATING TO SCHOOL SOCIAL WORKERS. (vetoed) - 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) - 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=143126&legislationTypeId=6&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 231: AN ACT TO AMEND TITLE 14 OF THE DELAWARE CODE RELATING TO SCHOOL SOCIAL WORKERS.](https://policyrisk.com/state-bill/DE-SB231-153) - [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) - [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-SS1FORSB16-153 (as of 2026-10-19).