Del. Code tit. 5 § 769

Current through 2024 Legislative Session Act Chapter 269

Section 769 - Ownership of capital stock of another bank or trust company

No bank or trust company shall hold more than 10 percent of the capital stock of any other bank or trust company without the approval of the Commissioner. In determining whether to grant such approval, the Commissioner shall consider the convenience and needs of the public of this State. Any acquisition by a bank or trust company of more than 10 percent of the capital stock of any other bank or trust company that was approved by the Commissioner before January 1, 1996, shall be deemed to have been approved by the Commissioner without the survival of any conditions required by former subsection (b) of this section.

5 Del. C. § 769

32 Del. Laws, c. 103, § 21; 38 Del. Laws, c. 93, § 1(8); 38 Del. Laws, c. 94, § 29; Code 1935, §§ 2309, 2398; 5 Del. C. 1953, § 769; 64 Del. Laws, c. 386, §4; 64 Del. Laws, c. 461, §1; 68 Del. Laws, c. 303, §11; 70 Del. Laws, c. 112, §§ 10, 11; 70 Del. Laws, c. 327, § 5.;