Title 5 — Banking

§ 3201. Citation. This chapter may be cited as the “Transportation of Money and Valuables Act.”5 Del. C. 1953, § 3201; 58 Del. Laws, c. 423.;

§ 3202. Definitions. For purposes of this chapter: (1) “Person” means any individual, partnership, association, joint stock association or corporation, or other entity, but does not include the United States government or the government of this State. (2) “Licensee” means a perso…

§ 3203. License required. No person requiring a license by this chapter shall engage in this State in the business of a transporter until such person’s application for a license to so engage in business is finally approved by the State Bank Commissioner.5 Del. C. 1953, § 3203; 58…

§ 3204. Exempt from licensing. (a) No license as a transporter shall be required of any of the following: (1) Banks, trust companies, building and loan associations, organized under the laws of this State or authorized to do business in this State while transporting their own pro…

§ 3205. 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 $50,000, computed according to generally accepted accounting principles. (2) The financial responsibility, financial…

§ 3206. Applications. 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: (1) Of the proprietor, if the app…

§ 3207. Accompanying fees and statements. Each application for a license shall be accompanied by: (1) An investigation fee of $250, which shall not be subject to refund; (2) The annual license fee as specified in § 3210 of this title; (3) Financial statements reasonably satisfact…

§ 3208. Action by the Commissioner; conditional approval. 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 the financial responsibility, fina…

§ 3209. License; bond; insurance. (a) Within 30 days after the applicant receives written notice of the conditional approval by the Commissioner of an application for original license as provided in § 3208 hereof, or within such longer period as the Commissioner may authorize, th…

§ 3210. Renewal of license; annual license fee. 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 ren…

§ 3211. Agents. A licensee may conduct the licensee’s business at one 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. …

§ 3212. Liability of licensee. (a) Each licensee shall be absolutely liable for any loss, damage, destruction or impairment of the money or valuables placed in the licensee’s possession in addition to whatever additional liability shall be imposed upon the licensee by reason of c…

§ 3213. 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…

§§ 3214, 3215. Hearings; appeal from Commissioner [Repealed]. Repealed by 73 Del. Laws, c. 24, §§ 17, 18, eff. April 17, 2001. For present law see § 3213 of this title.

§ 3216. Penalties. Any person who violates this chapter shall be fined not less than $100 nor more than $1,000, imprisoned for not more than 5 years, or both, for each such offense.5 Del. C. 1953, § 3216; 58 Del. Laws, c. 423.;

§ 3217. Rules and regulations. The Commissioner may adopt such rules and regulations as are necessary for the proper administration of this chapter.5 Del. C. 1953, § 3217; 58 Del. Laws, c. 423.;

§ 3218. Limitation on construction of chapter. This chapter shall not be construed as permitting any corporation, domestic or foreign, to transact in this State the business of a state bank and trust company, savings bank, industrial bank, private bank or building or savings and …

§ 3219. State government contracts. No contract shall be awarded by the State for the transportation, handling or storage of moneys, including lawful currency and coin, negotiable and nonnegotiable securities, stocks, bonds, coupons and things of unusual value, in the absence of …

§ 3220. Supervision and examination of business by the Commissioner. (a) Every person or combination of persons licensed as a transporter under this chapter shall be subject to the supervision and examination of the State Bank Commissioner and shall be examined by the Commissione…

§ 3221. Cease and desist orders. (a) The Commissioner shall have the power and authority to issue and serve an order upon a person to cease and desist from any violation or practice if, in the opinion of the Commissioner, a transporter subject to this chapter is engaging in, or h…