Title 5, Banking

§ 805. Reports. An out-of-state bank holding company that directly or indirectly, through any subsidiary, acquires and holds voting stock of a bank pursuant to this subchapter shall file with the Commissioner upon the Commissioner’s request copies of all regular and periodic repo…

§ 806. Rules; regulations; orders. The Commissioner may adopt rules and regulations and issue orders under this subchapter including, but not limited to, rules, regulations and orders for the following purposes: (1) To prescribe information or forms required in connection with an…

§ 807. Divestiture. (a) Upon the Commissioner’s determination that any out-of-state bank holding company or subsidiary thereof is holding stock in a bank located in this State in violation of the conditions set forth in § 803 of this title or of its agreement pursuant to § 804(a)…

§ 821. Definitions. As used in this subchapter: (1) “State assisted bank” means a bank which the State has, in order to relieve financial distress determined to exist by the State Bank Commissioner, assisted by means of a grant, loan, asset purchase or deposit made pursuant to a …

§ 822. Purpose; findings. The purpose of this subchapter is to permit the acquisition by an out-of-state bank holding company, or a subsidiary thereof, of any voting shares of, interest in, or all or substantially all of the assets of, a state assisted bank, notwithstanding any o…

§ 823. Authorized acquisitions. Pursuant to the present requirement of 12 U.S.C. § 1842(d) and notwithstanding any other provision of state law, any out-of-state bank holding company, or any subsidiary thereof, may acquire pursuant to this subchapter, and it and any successor the…

§ 824. Application for approval of acquisition. (a) An out-of-state bank holding company or subsidiary thereof proposing an acquisition pursuant to § 823 of this title shall file an application with the Commissioner for approval to make such acquisition either pursuant to § 751 o…

§ 825. Required reports. An out-of-state bank holding company that directly or indirectly through any subsidiary acquires, retains and holds voting stock of a bank pursuant to this subchapter shall file with the Commissioner upon the Commissioner’s request either: (1) Copies of a…

§ 826. Rules, regulations and orders. 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 with an application pursuant to § 824 of this title; (2) To estab…

§ 831. Definitions. For purposes of this subchapter, the following words and phrases shall have the meanings ascribed to them herein: (1) “Acquire” or “acquisition” means: a. The merger or consolidation of a savings and loan holding company with another savings and loan holding c…

§ 832. Acquisition authority. (a) An out-of-state savings institution, out-of-state savings and loan holding company or out-of-state bank holding company, or any subsidiary of the foregoing, may acquire or retain ownership or control of a Delaware savings bank or a Delaware savin…

§ 833. Application process. (a) An out-of-state savings institution, out-of-state savings and loan holding company or out-of-state bank holding company, or any subsidiary of the foregoing, shall make application to acquire a Delaware savings bank or a Delaware savings and loan ho…

§ 834. Duties and powers of Commissioner. In order to effectuate the provisions of this subchapter, the Commissioner shall, in addition to exercising the authority provided in §§ 833 and 835 of this title: (1) Adopt and issue such regulations, decrees, orders, rulings and forms, …

§ 835. Divestiture. Upon the Commissioner’s determination that an out-of-state savings institution, out-of-state savings and loan holding company or out-of-state bank holding company is in violation of the requirements of this subchapter, or any order, regulation, ruling, coopera…

§ 836. Powers of an acquired, savings bank. Nothing contained in this chapter shall be construed as abridging the rights, powers and authorities granted to any Delaware savings bank required under its charter, the provisions of this title, or any other current, former or future l…

§ 837. Scope; construction. This subchapter deals with the conditions under which out-of-state savings institutions, out-of-state savings and loan holding companies and out-of-state bank holding companies may acquire a Delaware savings bank or a Delaware savings and loan holding …

§ 841. Title. This subchapter may be cited as “The Delaware Interstate Banking Act.”66 Del. Laws, c. 32, § 1; 70 Del. Laws, c. 112, § 28;

§ 842. Definitions. For purposes of this subchapter, the following words and phrases shall have the meanings ascribed to them herein: (1) “Bank” shall mean a “bank” as defined in § 2(c) of the Bank Holding Company Act of 1956, as amended, 12 U.S.C. § 1841(c), that is: a. A bank o…

§ 843. Acquisition authority. (a) An out-of-state bank holding company or subsidiary thereof may acquire or retain ownership or control of a bank or bank holding company located in Delaware; provided, that the out-of-state bank holding company makes application under and at all t…

§ 844. Application process. (a) An out-of-state bank holding company shall make application to acquire a bank or bank holding company located in this State which owns or controls a bank upon such forms and in accordance with such regulations and rulings as are promulgated from ti…

§ 845. Duties and powers of Commissioner. In order to effectuate the provisions of this subchapter, the Commissioner shall, in addition to exercising the authority provided in §§ 844 and 846 of this title: (1) Adopt and issue such regulations, decrees, orders, rulings and forms, …

§ 846. Divestiture. Upon the Commissioner’s determination that an out-of-state bank holding company is in violation of the requirements of this subchapter or any order, regulation, ruling, cooperative agreement or decree issued or entered into by the Commissioner or any order of …

§ 847. Powers of an acquired bank. Except as to subchapter I of this chapter, nothing contained in this chapter shall be construed as abridging the rights, powers and authorities granted to any bank acquired under any subchapter of this chapter by its charter, the provisions of t…

§ 851. Definitions. As used in this subchapter: (1) “Bank holding company” means a company, as defined by the federal Bank Holding Company Act of 1956 (12 U.S.C. § 1841 et seq.), which is or becomes a bank holding company within the provisions of the federal act including, withou…

§ 852. Becoming a bank holding company. (a) Except as provided in 12 U.S.C. § 1842, subchapters I, II, III and IV of this chapter, and Chapter 7 of this title, no bank holding company other than a Delaware bank holding company may control a Delaware institution. (b) Any corporati…

§ 854. Reports. A Delaware bank holding company shall file with the Commissioner upon the Commissioner’s request copies of all regular and periodic reports which a bank holding company is required to file under the federal Bank Holding Company Act of 1956 [12 U.S.C. § 1841 et seq…

§ 855. Supervision and examination. The Commissioner shall have supervision over all Delaware bank holding companies and shall have the right to examine all such companies, including their nonbank subsidiaries. The costs of the examination shall be assessed against and paid by th…

§ 856. Nonexclusivity. Nothing in this subchapter or any law of this State shall be deemed to prohibit or limit a Delaware bank holding company from acquiring a bank or bank holding company located in any jurisdiction which acquisition is otherwise permitted by applicable law of …

§ 857. Bank Commissioner cooperative agreements. Prior to approving the acquisition by any Delaware bank holding company of any bank located in another state or bank holding company, the Commissioner may enter into cooperative agreements with the appropriate regulatory authoritie…

§ 861. Definitions. As used in this subchapter: (1) “Delaware savings and loan holding company” means a savings and loan holding company (as defined in the Home Owners’ Loan Act, as amended, at 12 U.S.C. § 1467a) located in Delaware that owns or controls a Delaware savings bank. …

§ 862. Becoming a Delaware savings and loan holding company. (a) Any corporation intending to become a Delaware savings and loan holding company shall file an application with the Commissioner for approval to acquire a Delaware savings bank. The application shall contain such inf…

§ 863. Reports. A Delaware savings and loan holding company shall file with the Commissioner, upon the Commissioner’s request, copies of all regular and periodic reports which a savings and loan holding company is required to file under the Home Owners’ Loan Act, as amended [12 U…

§ 864. Supervision and examination. The Commissioner shall have supervision over all Delaware savings and loan holding companies and shall have the right to examine all such companies, including their nonbank subsidiaries. The costs of the examination shall be assessed against an…

§ 865. Nonexclusivity. Nothing in this subchapter or any law of this State shall be deemed to prohibit or limit a Delaware savings and loan holding company from making an acquisition that is otherwise permitted by applicable law of the United States and any state.71 Del. Laws, c.…

§ 866. Bank Commissioner cooperative agreements. The Commissioner may enter into cooperative agreements or joint actions with other regulatory authorities to carry out the Commissioner’s responsibilities under this subchapter and to assure the safety and soundness of any Delaware…