Del. Code tit. 5 § 705

Current through 2024 Legislative Session Act Chapter 510

Section 705 - Revocation for nonuse of charters granted prior to July 1, 1933

Every charter authorizing the establishment of a bank or trust company in this State and which was granted or passed by the General Assembly of this State prior to the 1st day of July, 1933, shall be deemed and held to be revoked for nonuse of corporate franchise unless the corporation created or authorized by such charter was actively engaged in business in this State on December 31, 1933.

5 Del. C. § 705

32 Del. Laws, c. 103, § 22; 38 Del. Laws, c. 93, § 1(8); Code 1935, § 2310; 5 Del. C. 1953, § 705.;