Delaware § 769 Ownership of capital stock of another bank or trust company

Delaware Statutes

§ 769 — Ownership of capital stock of another bank or trust company

Delaware § 769

JurisdictionDelaware

Title5

PartBanks and Trust Companies

Ch. 7CORPORATION LAW FOR STATE BANKS AND TRUST COMPANIES

Subch.Powers and Prohibitions

This text of Delaware § 769 (Ownership of capital stock of another bank or trust company) 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, § 769 (2026).

Text

No bank or trust company shall hold more than 10 percent of the capital stock of any other bank or trust company without the approval of the Commissioner. In determining whether to grant such approval, the Commissioner shall consider the convenience and needs of the public of this State. Any acquisition by a bank or trust company of more than 10 percent of the capital stock of any other bank or trust company that was approved by the Commissioner before January 1, 1996, shall be deemed to have been approved by the Commissioner without the survival of any conditions required by former subsection (b) of this section.

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No bank or trust company shall hold more than 10 percent of the capital stock of any other bank or trust company without the approval of the Commissioner. In determining whether to grant such approval, the Commissioner shall consider the convenience and needs of the public of this State. Any acquisition by a bank or trust company of more than 10 percent of the capital stock of any other bank or trust company that was approved by the Commissioner before January 1, 1996, shall be deemed to have been approved by the Commissioner without the survival of any conditions required by former subsection (b) of this section.

Legislative History

32 Del. Laws, c. 103, § 21 ; 38 Del. Laws, c. 93, § 1(8) ; 38 Del. Laws, c. 94, § 29 ; Code 1935, §§ 2309, 2398; 5 Del. C. 1953, § 769; 64 Del. Laws, c. 386, § 4 ; 64 Del. Laws, c. 461, § 1 ; 68 Del. Laws, c. 303, § 11 ; 70 Del. Laws, c. 112, §§ 10, 11 ; 70 Del. Laws, c. 327, § 5