Current through 2024 Legislative Session Act Chapter 531
Section 821 - DefinitionsAs used in this subchapter:
(1) "State assisted bank" means a bank which the State has, in order to relieve financial distress determined to exist by the State Bank Commissioner, assisted by means of a grant, loan, asset purchase or deposit made pursuant to a plan or agreement if: a. The State owns an equity interest in the bank which the State obtained pursuant to the plan or agreement; andb. Such equity interest together with any equity interest previously obtained and still held by the State aggregates not less than 25% of the voting rights of all holders of stock or other voting rights.(2) "Bank" means a bank or trust company existing under the laws of the State, or a national banking association existing under the National Bank Act, as amended ( 12 U.S.C. § 21 et seq.), whose main office is in this State.(3) "Out-of-state bank holding company" means an out-of-state bank holding company as defined in § 801(2) of this title.(4) "Subsidiary" means a subsidiary as defined in § 801(6) of this title.63 Del. Laws, c. 186, §6.;