§ 795 — Definitions

As used in this subchapter:

(1) “Bank” means a Delaware state bank, out-of-state state bank, Delaware national bank or out-of-state national bank.

(2) “Bank holding company” has the meaning specified in the Bank Holding Company Act of 1956, as amended, 12 U.S.C. § 1841 et seq.

(3) “Branch office” has the meaning specified in § 770 of this title.

(4) “Delaware bank” means a Delaware national bank or a Delaware state bank.

(5) “Delaware national bank” means a national banking association created under the National Bank Act (12 U.S.C. § 21 et seq.) that is located in this State.

(6) “Delaware state bank” means a bank (as defined in § 101 of this title) chartered under the laws of this State.

(7) “Existing Delaware bank” means: (i) a Delaware state bank whose initial Delaware charter (whether or not subsequently amended or converted to a national charter) bears an effective date not less than 5 years prior to the effective date of the merger of such bank with an out-of-state bank, (ii) a Delaware national bank whose authorization to conduct a banking business in Delaware pursuant to the National Bank Act bears an effective date not less than 5 years prior to the effective date of the merger of such bank with an out-of-state bank, (iii) a building and loan association which has become a Delaware state bank pursuant to § 794 of this title and whose initial Delaware charter or authorization to conduct a building and loan business in Delaware bears an effective date not less than 5 years prior to the effective date of the merger of such building and loan association with an out-of-state bank, (iv) a consumer credit bank which became a Delaware state bank pursuant to this title and whose initial Delaware charter or authorization to operate as a consumer credit bank in Delaware bears an effective date not less than 5 years prior to the effective date of the merger of such consumer credit bank with an out-of-state bank, or (v) a credit card institution which has become a Delaware state bank pursuant to § 793 of this title and whose initial Delaware charter or authorization to operate as a credit card institution in Delaware bears an effective date not less than 5 years prior to the effective date of the merger of such credit card institution with an out-of-state bank.

(8) “Located in this State” means, with respect to a state-chartered bank, a bank created under the law of this State and, with respect to a national banking association, a bank whose organization certificate identifies an address in this State as the place at which its discount and deposit operations are to be carried out.

(9) “Merger” includes merger, consolidation and the purchase or sale of all or substantially all assets.

(10) “Merging bank” means a bank that is a party to a merger.

(11) “National bank” means a Delaware national bank or an out-of-state national bank.

(12) “Out-of-state bank” means an out-of-state state bank or an out-of-state national bank.

(13) “Out-of-state state bank” means a state bank, as defined in the Federal Deposit Insurance Act, as amended, at 12 U.S.C. § 1813(a), that is not chartered under the laws of this State.

(14) “Out-of-state national bank” means a national bank association created under the National Bank Act (12 U.S.C. § 21 et seq.) that is not located in this State.

(15) “Resulting” with respect to a bank means the bank resulting from a merger, and with respect to a branch means the branch office(s) of the bank resulting from a merger.

(16) “Savings and loan holding company” has the meaning specified in the Home Owners’ Loan Act, as amended, at 12 U.S.C. § 1467a.

Legislative History

70 Del. Laws, c. 112, § 15 ; 71 Del. Laws, c. 19, §§ 33, 34 ; 71 Del. Laws, c. 25, § 19 ; 71 Del. Laws, c. 254, § 10