Delaware Code Title 5 Sec. 773 – Definitions
As used in this subchapter:
(1) “Affiliate” means a person that directly, or indirectly through 1 or more intermediaries, controls, or is controlled by, or is under common control with, the person specified. “Control” means beneficial ownership directly, or indirectly through 1 or more intermediaries, of more than 50 per centum of the voting securities or partnership interests in any person other than an individual.
(2) “Loans” means consumer loans for personal, property or household purposes, mortgage loans and commercial loans other than to affiliates.
(3) “Located in the State” means, with respect to state chartered banks or trust companies, banks or trust companies created under the laws of this State and, with respect to national banking associations, banks or trust companies whose principal place of business is located in this State.
(4) “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. To receive deposits subject to check or to repayment upon presentation of a passbook, certificate or deposit or other evidence of debt, or upon request of the depositor; and
b. To make loans.
Terms Used In Delaware Code Title 5 Sec. 773
- banks: when used in this chapter, do not include such national banks, except as otherwise provided in subchapters VI and VII of this chapter. See Delaware Code Title 5 Sec. 701
- Control: means beneficial ownership directly, or indirectly through 1 or more intermediaries, of more than 50 per centum of the voting securities or partnership interests in any person other than an individual. See Delaware Code Title 5 Sec. 773
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Loans: means consumer loans for personal, property or household purposes, mortgage loans and commercial loans other than to affiliates. See Delaware Code Title 5 Sec. 773
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- State: means the State of Delaware; and when applied to different parts of the United States, it includes the District of Columbia and the several territories and possessions of the United States. See Delaware Code Title 1 Sec. 302