Delaware § 2242 Salary orders, warrants or assignments as security for loans, confessions of judgment, acceleration; penalties for violations

Delaware Statutes

§ 2242 — Salary orders, warrants or assignments as security for loans, confessions of judgment, acceleration; penalties for violations

Delaware § 2242

JurisdictionDelaware

Title5

PartOther Businesses Under Jurisdiction of State Banking Department

Ch. 22LICENSED LENDERS

Subch.Prohibitions and Penalties

This text of Delaware § 2242 (Salary orders, warrants or assignments as security for loans, confessions of judgment, acceleration; penalties for violations) 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, § 2242 (2026).

Text

(a)No order, warrant or claim of any kind, from any employee upon the employee’s employer, for any salary or part thereof due or to become due to such employee from such employer, shall be taken, accepted or agreed to be taken or accepted, as security for money loaned or to be loaned.

(b)No loan shall be declared due and payable unless the borrower shall be in default of an expressed term or condition of the instrument.

(c)Whoever violates this section shall be fined not less than $100 nor more than $500, or imprisoned not more than 6 months, or both.

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(a) No order, warrant or claim of any kind, from any employee upon the employee’s employer, for any salary or part thereof due or to become due to such employee from such employer, shall be taken, accepted or agreed to be taken or accepted, as security for money loaned or to be loaned.

(b) No loan shall be declared due and payable unless the borrower shall be in default of an expressed term or condition of the instrument.

(c) Whoever violates this section shall be fined not less than $100 nor more than $500, or imprisoned not more than 6 months, or both.