Delaware § 1901 Members of association

Delaware Statutes

§ 1901 — Members of association

Delaware·Title 5·Part Building and Loan Associations·Ch. 19 POWERS AND CONDUCT OF BUSINESS

All shareholders of record and all borrowers from a building and loan association shall be members thereof. A borrowing member obligated upon a real estate loan shall remain a member of the association, even though the member has transferred the real estate security subject to real estate loan so long as the borrowing member remains obligated upon the real estate loan.

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Legislative History

32 Del. Laws, c. 107, § 3 ; 33 Del. Laws, c. 112, § 1 ; Code 1935, § 2338; 43 Del. Laws, c. 136, § 1 ; 5 Del. C. 1953, § 1901; 70 Del. Laws, c. 186, § 1