Delaware § 379 Banking powers denied

Delaware Statutes

§ 379 — Banking powers denied

Delaware·Title 8·Ch. 1 GENERAL CORPORATION LAW·Subch. Foreign Corporations

(a)No foreign corporation shall, within the limits of this State, by any implication or construction, be deemed to possess the power of discounting bills, notes or other evidence of debt, of receiving deposits, of buying and selling bills of exchange, or of issuing bills, notes or other evidences of debt upon loan for circulation as money, anything in its charter or articles of incorporation to the contrary notwithstanding, except as otherwise provided in subchapter VII of Chapter 7 or in Chapter 14 of Title 5.

(b)All certificates issued by the Secretary of State under § 371 of this title shall expressly set forth the limitations and restrictions contained in this section.

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(a) No foreign corporation shall, within the limits of this State, by any implication or construction, be deemed to possess the power of discounting bills, notes or other evidence of debt, of receiving deposits, of buying and selling bills of exchange, or of issuing bills, notes or other evidences of debt upon loan for circulation as money, anything in its charter or articles of incorporation to the contrary notwithstanding, except as otherwise provided in subchapter VII of Chapter 7 or in Chapter 14 of Title 5.

(b) All certificates issued by the Secretary of State under § 371 of this title shall expressly set forth the limitations and restrictions contained in this section.

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Legislative History

8 Del. C. 1953, § 379; 56 Del. Laws, c. 50 ; 57 Del. Laws, c. 148, § 36 ; 70 Del. Laws, c. 112, § 78 ; 71 Del. Laws, c. 254, § 35 ; 79 Del. Laws, c. 122, § 9