5 Del. Admin. Code § 701-2.0

Current through Register Vol. 28, No. 7, January 1, 2025

Section 701-2.0 - Notice of Intent

2.1 Notice of the intention ("Notice of Intent") of the incorporators (the "Incorporators") to form a Bank or limited purpose trust company shall be filed with the Commissioner. All filings must be in duplicate.

2.2 A $1,150 non-refundable investigation fee shall be submitted with the Notice of Intent, payable to "Office of the State Bank Commissioner."

2.3 The Notice of Intent shall specify:

(i) the names of all Incorporators;

(ii) the name of the proposed Bank or limited purpose trust company (note: the word "trust" may be used only if a limited purpose trust company or a bank with trust powers is being formed);

(iii) the city or town in which the Bank or limited purpose trust company will be located; and

(iv) the amount of capital stock of the proposed Bank or limited purpose trust company.

2.4 The Notice of Intent shall have attached as exhibits:

(i) a copy of the application for a Certificate of Public Convenience and Advantage (the "Application") in the form the Incorporators intend to file pursuant to Section 4 of this Regulation;

(ii) a copy of the proposed form of written agreement in which the subscribers thereto associate themselves with the intent of forming a Bank or limited purpose trust company (the "Articles of Association");

(iii) a proposed form of public notice as provided for in Section 3 of this Regulation (the "Public Notice"); and,

(iv) where the Incorporators are acting on behalf of a corporate entity in the application process, a copy of the corporate resolution, sworn to and subscribed by a president or vice-president and certified by the secretary or an assistant secretary, authorizing the Incorporators to execute and file the Notice of Intent and Application on behalf of the corporation.

5 Del. Admin. Code § 701-2.0