Delaware § 912 Limitations upon loans on security of and purchase of own capital stock

Delaware Statutes

§ 912 — Limitations upon loans on security of and purchase of own capital stock

Delaware § 912

JurisdictionDelaware

Title5

PartBanks and Trust Companies

Ch. 9REGULATIONS GOVERNING BUSINESS OF BANKS AND TRUST COMPANIES

Subch.General Provisions

This text of Delaware § 912 (Limitations upon loans on security of and purchase of own capital stock) 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, § 912 (2026).

Text

No bank or trust company shall purchase shares of its own capital stock, nor make any loan on the faith or pledge of shares of its own capital stock; but nothing in this section shall inhibit such purchase or loan when necessary to prevent loss on debts created prior to March 31, 1921, nor shall it affect the holding of stock acquired by any bank or trust company prior to March 31, 1921. Notwithstanding the foregoing, the Commissioner may approve the purchase by a bank or trust company of the shares of its own capital stock, subject to such terms and conditions, if any, as the Commissioner may require.

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No bank or trust company shall purchase shares of its own capital stock, nor make any loan on the faith or pledge of shares of its own capital stock; but nothing in this section shall inhibit such purchase or loan when necessary to prevent loss on debts created prior to March 31, 1921, nor shall it affect the holding of stock acquired by any bank or trust company prior to March 31, 1921. Notwithstanding the foregoing, the Commissioner may approve the purchase by a bank or trust company of the shares of its own capital stock, subject to such terms and conditions, if any, as the Commissioner may require.