Title 5 — Banking
30 chapters · 197 sections in this title.
5 Del. C. § 2901. Definition of terms.
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§ 2901. Definition of terms. As used in this chapter, unless the context or subject matter otherwise requires: (1) “Motor vehicle” means any device propelled or drawn by any power other than muscular power, in, upon, or by which any person or property is, or may be transported or…
5 Del. C. § 2902. Licensing of sales finance companies required.
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§ 2902. Licensing of sales finance companies required. (a) No person shall engage in the business of a sales finance company in this State without a license therefor as provided in this chapter; provided, however, that the licensing requirements of this chapter shall not apply to…
5 Del. C. § 2903. Renewal of license.
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§ 2903. Renewal of license. Every holder of a license or a renewal thereof, as provided for in this section, desiring to continue the transaction of business as provided for in this chapter, shall at least 30 days prior to the expiration of such license or renewal thereof make ap…
5 Del. C. § 2904. Suspension, revocation or surrender of license.
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§ 2904. 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. § 2905. Filing of complaints.
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§ 2905. Filing of complaints. Any retail buyer having reason to believe that this chapter relating to the retail buyer’s retail installment contract has been violated, may file with the Commissioner a written complaint setting forth the details of such alleged violation and the C…
5 Del. C. § 2906. Powers of Commissioner.
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§ 2906. Powers of Commissioner. (a) For the purpose of administering this chapter, determining whether any business contemplated by this chapter is being operated in accordance with the provisions thereof or making investigation of any complaint or alleged violation, the Commissi…
5 Del. C. § 2907. Requirements and prohibitions as to retail installment contracts.
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§ 2907. Requirements and prohibitions as to retail installment contracts. (a) A retail installment contract shall be in writing, shall be signed by both the buyer and the seller and shall be completed as to all essential provisions prior to the signing of the contract by the buye…
5 Del. C. § 2908. Finance charge.
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§ 2908. Finance charge. (a) A retail seller or the holder of a retail installment contract may charge and collect a finance charge in respect of a retail installment transaction and may calculate such finance charge in the manner and at the rate or rates specified in the contract…
5 Del. C. § 2908A. Prepayment [Transferred].
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§ 2908A. Prepayment [Transferred]. Transferred.
5 Del. C. § 2909. Prepayment.
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§ 2909. Prepayment. (a) A buyer may prepay the debt due under a retail installment contract in full at any time. (b) If the finance charge imposed pursuant to § 2908 of this title in respect of a retail installment transaction has been precomputed and taken in advance, then, in t…
5 Del. C. § 2910. Deferred installments.
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§ 2910. Deferred installments. A holder may at any time or from time to time permit a buyer to defer installment payments due under the terms of a retail installment contract and may, in connection with such deferral, charge and collect deferral charges and may also require payme…
5 Del. C. § 2911. Penalties.
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§ 2911. Penalties. (a) Any person who shall wilfully and intentionally violate this chapter or engage in the business of a sales finance company in this State without a license therefor as provided in this chapter shall be fined not more than $500. (b) A wilful violation of §§ 29…
5 Del. C. § 2912. Waiver unenforceable and void.
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§ 2912. Waiver unenforceable and void. Any waiver of this chapter shall be unenforceable and void.5 Del. C. 1953, § 2911; 52 Del. Laws, c. 335, § 1; 70 Del. Laws, c. 6, § 14;
5 Del. C. § 2913. Disclosure requirements.
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§ 2913. Disclosure requirements. Notwithstanding any other provision of this chapter to the contrary, disclosures made in the terminology of the Truth in Lending Act [15 U.S.C. § 1601 et seq.], as amended, and regulations prescribed thereunder, shall be deemed to comply with comp…
5 Del. C. § 2914. Surety bonds and irrevocable letters of credit.
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§ 2914. 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. § 2915. Multi-state automated licensing system.
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§ 2915. 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,…