§ 121 — Supervision over banks and other financial institutions; administration and enforcement of title

Delaware § 121

• Jurisdiction: Delaware
• Title: 5
• Part: State Banking Agencies
• Ch. 1: STATE BANK COMMISSIONER
• Subch.: Powers and Duties

Text

(a) The Commissioner shall have authority to administer and enforce all the provisions of this title and shall have supervision over:

(1) All state banks, savings banks, trust companies, building and loan associations and other corporations engaged in like business, incorporated under the laws of or doing business in this State, and the subsidiaries of the foregoing, and the Commissioner shall secure the execution of all laws relative to such corporations, provided that with respect to any activity authorized by § 761(a)(14) or § 1661(a)(14) of this title, the Commissioner shall only have supervision to the extent such activity is not subject to the supervision of the Insurance Commissioner of this State or of another jurisdiction or, if it is subject to such supervision, when the Commissioner determines that such activity is likely to have a materially adverse effect on the safety and soundness of the bank;

(2) All persons, trustees or trustee systems, or any other combinations of persons who transact or attempt to transact the business of making small loans or loaning money as provided for or mentioned in Chapter 22 of this title, with all the powers, duties and responsibilities with respect thereto, as provided by this Code and any other laws with respect to banks, trust companies, building and loan associations, and other corporations engaged in like business and with like full power and authority to enforce all necessary rules and regulations as in the case of banks, trust companies, building and loan associations, and other corporations engaged in like business;

(3) All persons who have been issued a license pursuant to any of the provisions of this title.

(b) The Commissioner may prescribe regulations to carry out the purposes of this title. No such regulation shall extend, modify or conflict with any law of this State or the reasonable implications thereof.

(c) The Commissioner may issue subpoenas to compel the attendance of witnesses and the production of documents, papers, books, records and other evidence before him or her in any matter over which he or she has jurisdiction, control or supervision. The Commissioner may administer oaths and affirmations to any person whose testimony is required.

(d) If any person shall fail to comply with any subpoena issued by the Commissioner, or to testify with respect to any matter concerning which he or she may be lawfully interrogated, the Superior Court, on application of the Commissioner, may issue an order requiring the attendance of such person and the giving of testimony or production of evidence. Any person failing to obey the Court’s order may be punished by Court as for contempt.

(e) [Repealed.]

Legislative History

30 Del. Laws, c. 111, § 6 ; 36 Del. Laws, c. 89, § 3 ; Code 1935, §§ 2279, 2287; 5 Del. C. 1953, § 121; 61 Del. Laws, c. 92, § 1 ; 61 Del. Laws, c. 423, §§ 1, 2 ; 62 Del. Laws, c. 418, § 1 ; 66 Del. Laws, c. 22, §§ 2, 3 ; 66 Del. Laws, c. 27, § 3 ; 67 Del. Laws, c. 223, § 5 ; 67 Del. Laws, c. 344, § 3 ; 70 Del. Laws, c. 186, § 1 ; 71 Del. Laws, c. 25, § 2 ; 71 Del. Laws, c. 254, § 4 ; 72 Del. Laws, c. 15, § 3