Title 5, Banking

§ 1405. Maintenance of assets in this State; separate assets. (a) Each foreign bank holding a certificate of authority pursuant to this subchapter shall hold in this State currency, bonds, notes, debentures, drafts, bills of exchange or other evidence of indebtedness, including l…

§ 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…

§ 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 wit…

§ 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)…

§ 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 …

§ 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 satisfacto…

§ 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 whe…

§ 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…

§ 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…

§ 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 bu…

§ 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 b…

§ 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 …

§ 1420. Scope. This subchapter deals with conditions under which foreign banks may operate representative offices in this State.65 Del. Laws, c. 444, § 6;

§ 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 Commissi…

§ 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 an…

§ 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 b…

§ 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 b…

§ 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 ap…

§ 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 n…

§ 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;

§ 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 ba…

§ 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 exist…

§ 1433. Authority for interstate branch offices of out-of-state foreign banks. (a) The place of business or main office and all branch offices of a merging existing Delaware bank may continue as resulting branch offices of the out-of-state foreign bank. (b) An out-of-state foreig…

§ 1434. Powers. An out-of-state foreign bank which establishes one or more branch offices in this State in accordance with this subchapter may conduct any activities at such branch office or offices that are authorized under the laws of this State for Delaware state banks or purs…

§ 1435. Authorized agency activities. A resulting branch office in this State of an out-of-state foreign bank may exercise agency activities as provided in subchapter VIII of Chapter 7 of this title.71 Del. Laws, c. 254, § 26;

§ 1436. Applicability of other laws. Every foreign bank operating a resulting branch office in this State 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 trus…