A corporation established under this subchapter shall be known as a limited purpose trust company. The Commissioner shall issue no certificate of public convenience and advantage with respect to any corporation proposed to be established under this chapter solely for the purpose of exercising trust company powers, excepting a corporation organized under this subchapter.

63 Del. Laws, c. 261, § ?3;

Terms Used In Delaware Code Title 5 Sec. 774

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Trust company powers: means all of the powers, rights, privileges and franchises incident to a trust company established under subchapter IV of this chapter, except:

    a. See Delaware Code Title 5 Sec. 773

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