Title 5 — Banking
30 chapters · 197 sections in this title.
5 Del. C. § 2301. Citation.
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§ 2301. Citation. This chapter may be cited as “The Sale of Checks Act.”5 Del. C. 1953, § 2301; 58 Del. Laws, c. 421.;
5 Del. C. § 2302. Definitions.
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§ 2302. Definitions. For the purposes of this chapter: (1) “Person” means any individual, partnership, association, joint stock association or corporation, but does not include the United States government or the government of this State. (2) “Licensee” means a person duly licens…
5 Del. C. § 2303. License required.
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§ 2303. License required. No person, except those specified in § 2304 or agents of a licensee as provided in § 2311 shall engage in the business of selling checks, or issuing checks or engage in the business of receiving money for transmission or transmitting the same without hav…
5 Del. C. § 2304. Exemption from licensing.
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§ 2304. Exemption from licensing. (a) No license shall be required hereunder of banks, trust companies, credit unions, building and loan associations and savings and loan associations, organized under the laws of any state in the United States of America or the United States of A…
5 Del. C. § 2305. Qualifications.
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§ 2305. Qualifications. To qualify for a license hereunder an applicant shall meet the following requirements: (1) The applicant shall have a net worth of at least $100,000 computed according to generally accepted accounting principles; (2) The financial responsibility, financial…
5 Del. C. § 2306. Applications.
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§ 2306. Applications. (a) Each application for a license shall be made in writing and under oath to the Commissioner in such form and containing such information as the Commissioner may prescribe including the name and business and residence address of any of the following: (1) O…
5 Del. C. § 2307. Accompanying fees and statements.
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§ 2307. Accompanying fees and statements. Each application for a license shall be accompanied by: (1) An investigation fee of $172.50 which shall not be subject to refund. (2) The annual license fee as specified in § 2310. (3) Financial statements reasonably satisfactory to the C…
5 Del. C. § 2308. Action by Commissioner; conditional approval; license requirements; acquisition.
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§ 2308. Action by Commissioner; conditional approval; license requirements; acquisition. (a) Upon the filing of the application and the payment of the investigation fee and the annual license fee, the Commissioner shall, to the extent the Commissioner deems advisable, investigate…
5 Del. C. § 2309. Surety bonds and irrevocable letters of credit.
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§ 2309. Surety bonds and irrevocable letters of credit. (a) Surety bonds. — (1) Every licensee shall file with the Commissioner, in a form satisfactory to the Commissioner, an original corporate surety bond, with surety provided by a corporation authorized to transact business in…
5 Del. C. § 2310. Annual license fee.
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§ 2310. Annual license fee. After applicant receives notice of conditional approval by the Commissioner of the application for an original license and annually thereafter at least 30 days prior to the expiration of such license, applicant shall file with the Commissioner a renewa…
5 Del. C. § 2311. Agents.
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§ 2311. Agents. A licensee may conduct the licensee’s business at 1 or more locations within the State and through or by means of such agents as the licensee may from time to time designate or appoint. No license under this chapter shall be required of any agent of a licensee. In…
5 Del. C. § 2312. Liability of licensees.
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§ 2312. Liability of licensees. (a) Each licensee shall be liable for the payment of all checks which the licensee sells in this State, in whatever form and whether directly or through an agent, as the maker or drawer thereof according to the negotiable instruments law of this St…
5 Del. C. § 2313. Disclosure of responsibility and evidence of receipt.
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§ 2313. Disclosure of responsibility and evidence of receipt. (a) Every check sold by a licensee, directly or through an agent, shall bear the name of the licensee clearly imprinted thereon. (b) Every licensee shall furnish a customer with a receipt or other acknowledgment upon r…
5 Del. C. § 2314. Examination.
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§ 2314. Examination. The Commissioner may examine the business, books and records of the licensee at any time, the reasonable cost of such examination to be paid by licensee.5 Del. C. 1953, § 2314; 58 Del. Laws, c. 421; 70 Del. Laws, c. 186, § 1; 71 Del. Laws, c. 19, § 76; 73 Del…
5 Del. C. § 2315. Suspension, revocation or surrender of license.
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§ 2315. Suspension, revocation or surrender of license. (a) The Commissioner may revoke any license issued hereunder upon finding that: (1) The licensee has violated any provision of this chapter or any rule or regulation made by the Commissioner under and within the authority of…
5 Del. C. § 2316. Appeal from Commissioner [Repealed].
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§ 2316. Appeal from Commissioner [Repealed]. Repealed by 73 Del. Laws, c. 24, § 12, eff. April 17, 2001. For present law see § 2315 of this title.
5 Del. C. § 2317. Penalties.
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§ 2317. Penalties. Any person who violates any provision of this chapter shall be fined not less than $100 nor more than $500 or imprisoned for not more than 90 days, or both for each such offense.5 Del. C. 1953, § 2317; 58 Del. Laws, c. 421.;
5 Del. C. § 2318. Rules and regulations.
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§ 2318. Rules and regulations. The Commissioner may adopt rules and regulations necessary for the administration of this chapter.5 Del. C. 1953, § 2318; 58 Del. Laws, c. 421.;
5 Del. C. § 2319. Multi-state automated licensing system.
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§ 2319. Multi-state automated licensing system. (a) The Commissioner is authorized to participate in any automated system involving 1 or more other states that will facilitate any aspect of the application and licensing processes of this chapter. (b) Upon joining any such system,…