Title 5 — Banking
30 chapters · 197 sections in this title.
5 Del. C. § 1901. Members of association.
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§ 1901. Members of association. All shareholders of record and all borrowers from a building and loan association shall be members thereof. A borrowing member obligated upon a real estate loan shall remain a member of the association, even though the member has transferred the re…
5 Del. C. § 1902. Special powers of domestic association.
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§ 1902. Special powers of domestic association. Building and loan associations organized under Title 8 may, in addition to the other powers granted in such title and this chapter, make loans to and among their stockholders and also to and among nonstockholders. Building and loan …
5 Del. C. § 1903. Authorized plans of operation.
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§ 1903. Authorized plans of operation. Any duly licensed or registered building and loan association doing business in this State, provided its charter permits, may issue serial shares, full paid shares, installment full paid shares, and may also make available to members savings…
5 Del. C. § 1904. Dividends.
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§ 1904. Dividends. Every building and loan association duly licensed or registered, provided its charter shall permit, may provide either in its bylaws or by a resolution or resolutions of its board of directors a schedule of varying rates of dividends for different classes of sh…
5 Del. C. § 1905. Branch offices.
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§ 1905. Branch offices. The establishment of a branch office by a building and loan association shall be governed by § 2011 of this title. Branching of building and loan associations shall be limited to the extent permitted to banks chartered pursuant to Chapter 7 of this title.6…
5 Del. C. § 1906. Premiums, fines and fees.
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§ 1906. Premiums, fines and fees. (a) The power to collect premiums, fines and membership fees within the limits of this chapter, or as permitted by any other law of this State, is granted to building and loan associations. Fines shall not be imposed against and collected from an…
5 Del. C. § 1907. Withdrawal value of shares.
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§ 1907. Withdrawal value of shares. The withdrawal value paid in any 1 fiscal year to any shareholder of a building and loan association, after having paid all dues, interest, premiums, fines and membership fees due by the shareholder for a period of 1 year or more, shall be comp…
5 Del. C. § 1908. Investment of association’s funds in corporate stock.
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§ 1908. Investment of association’s funds in corporate stock. The funds of a building and loan association, existing under this Code or any other law of this State, shall not be invested in any corporation stocks. Nothing herein contained shall prevent a building and loan associa…
5 Del. C. § 1909. Membership in Federal Home Loan Bank.
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§ 1909. Membership in Federal Home Loan Bank. Any building and loan association incorporated under this Code or any other law of this State may become a member of the Federal Home Loan Bank, organized or to be organized in the district in which such building and loan association …
5 Del. C. § 1910. Borrowing from Federal Home Loan Bank.
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§ 1910. Borrowing from Federal Home Loan Bank. Any building and loan association doing business in this State may borrow from any Federal Home Loan Bank to any amount within the regulations of the Federal Home Loan Bank and may secure advances from the Federal Home Loan Bank by t…
5 Del. C. § 1911. Power to borrow generally.
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§ 1911. Power to borrow generally. Any building and loan association doing business in this State may borrow money from sources other than a Federal Home Loan Bank, and may secure the same by the assignment or pledge of any mortgage, mortgages, or other assets held by the buildin…
5 Del. C. § 1912. Limitation on loans not secured by first mortgage on real estate.
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§ 1912. Limitation on loans not secured by first mortgage on real estate. Not more than 50 percent of the shareholders’ invested capital in any building and loan association doing business in this State shall be loaned on real estate security on other than first liens.32 Del. Law…
5 Del. C. § 1913. Matured stock.
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§ 1913. Matured stock. When, from the distribution of the profits of any building and loan association, the profits accruing to any series of stock show that the series has matured according to the provisions of the bylaws of the association, the association shall not make any fu…
5 Del. C. § 1914. Contingent fund.
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§ 1914. Contingent fund. A building and loan association may set aside in its treasury, out of its earnings, a contingent fund which shall be used only for the purpose of paying losses and necessary expenses incurred in the maturing of any of its series of stock, and for the purp…
5 Del. C. § 1915. Undivided profits.
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§ 1915. Undivided profits. Any building and loan association may, at the discretion of its board of directors set aside any surplus net income or other available earnings which remain after reserve and dividend requirements have been met and retain such funds in an undivided prof…
5 Del. C. § 1916. Fiscal agent.
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§ 1916. Fiscal agent. If and when an association is a member of a Federal Home Loan Bank, it shall have power to act as fiscal agent of the United States, and, when so designated by the Secretary of the Treasury, it shall perform, under such regulations as the Secretary may presc…
5 Del. C. § 1917. Investment by minors.
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§ 1917. Investment by minors. (a) Any building and loan association in this State may receive funds for investment in the shares of the association from or in the name of a minor. When an investment shall be made in the shares of a building and loan association by a minor or in t…
5 Del. C. § 1918. Investments standing in the name of decedents.
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§ 1918. Investments standing in the name of decedents. Building and loan associations may pay out the investment of decedents, together with any dividends or interest thereon, without requiring letters of administration to be issued upon the estates of such decedents, when and as…
5 Del. C. § 1919. Investments standing in the names of 2 or more persons.
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§ 1919. Investments standing in the names of 2 or more persons. When an investment in the shares of any building and loan association is made in the name of 2 or more persons, deliverable or payable to either, or to the survivor or survivors, the investment, or any part thereof, …
5 Del. C. § 1920. Investments in trust.
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§ 1920. Investments in trust. When an investment is made by any person in the shares of a building and loan association in this State, said investment in trust for another, and no other or further notice of the existence and terms of a legal and valid trust has been given in writ…
5 Del. C. § 1921. Powers similar to federally chartered institutions.
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§ 1921. Powers similar to federally chartered institutions. To the extent authorized by the Commissioner pursuant to regulations, a building and loan association shall have the power to engage in any activity which such federally chartered institutions may be authorized to engage…