Delaware § 1727 Insurance required

Delaware Statutes

§ 1727 — Insurance required

Delaware § 1727

JurisdictionDelaware

Title5

PartBuilding and Loan Associations

Ch. 17REGULATION

Subch.License to Do Business

This text of Delaware § 1727 (Insurance required) is published on Counsel Stack Legal Research, covering Delaware primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Del. Code tit. 5, § 1727 (2026).

Text

A building and loan association whose total assets exceed $15,000,000 or registered office of an association created under the laws of any other state may not engage in business within this State unless its shares, savings accounts, savings certificates, and other types of share or deposit accounts offered are federally insured. Before an institution which is not federally insured receives funds from a new shareholder, investor, member, subscriber, or depositor, the institution shall obtain the signature of such person on a disclosure, on a form approved by the State Bank Commissioner, advising such person that the funds deposited with that institution are not federally insured.

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A building and loan association whose total assets exceed $15,000,000 or registered office of an association created under the laws of any other state may not engage in business within this State unless its shares, savings accounts, savings certificates, and other types of share or deposit accounts offered are federally insured. Before an institution which is not federally insured receives funds from a new shareholder, investor, member, subscriber, or depositor, the institution shall obtain the signature of such person on a disclosure, on a form approved by the State Bank Commissioner, advising such person that the funds deposited with that institution are not federally insured.

Legislative History

65 Del. Laws, c. 13, § 1 ; 67 Del. Laws, c. 55, § 3 ; 68 Del. Laws, c. 105, § 13 ; 69 Del. Laws, c. 40, §§ 1, 2 ; 72 Del. Laws, c. 15, § 26 ; 74 Del. Laws, c. 4, § 1 ; 75 Del. Laws, c. 181, § 1 ; 82 Del. Laws, c. 12, § 1 ; 83 Del. Laws, c. 345, § 1