Delaware Statutes
§ 1422 — Application for license; fee; findings required for issuance
Delaware·Title 5·Part Banks and Trust Companies·Ch. 14 FOREIGN BANKS·Subch. Foreign Bank Representative Office
(a)The application for a license shall contain information and be accompanied by a reasonable fee as determined by the Commissioner.
(b)The Commissioner shall issue a license to a foreign bank to establish and maintain a representative office if the Commissioner finds:
(1)The foreign bank and the proposed management of the representative office are each of good character and sound financial standing;
(2)The management of the foreign bank and the proposed management of the representative office are adequate; and
(3)The convenience and needs of persons to be served by the proposed representative office will be promoted.
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Legislative History
65 Del. Laws, c. 444, § 6 ; 71 Del. Laws, c. 254, § 24