Del. Code tit. 5 § 130

Current through 2024 Legislative Session Act Chapter 510

Section 130 - Impaired capital; procedure upon failure to make good

If the Commissioner believes that the capital of any bank or trust company under the Commissioner's jurisdiction has been impaired, the Commissioner may require it to make good the deficiency within such time as the Commissioner shall specify. If the bank or trust company shall fail to comply with the Commissioner's notice within the time prescribed, the Commissioner may forthwith take possession of the institution's place of business, and retain such possession until the institution shall have made good the deficiency, or has been finally liquidated, or a receiver shall have been appointed to take charge of its business and affairs. The Commissioner may cause proceedings to be instituted against the institution, and the Attorney General shall, upon the request of the Commissioner, institute such proceedings as the nature of the case may require.

5 Del. C. § 130

30 Del. Laws, c. 111, § 10; 32 Del. Laws, c. 103, § 6; 38 Del. Laws, c. 93, § 1(2); Code 1935, §§ 2283, 2294; 5 Del. C. 1953, § 130; 70 Del. Laws, c. 186, § 1.;