If a merging or converting bank has assets which do not conform to the requirements of state laws for the resulting state bank or carries on business activities which are not permitted for the resulting state bank, the State Bank Commissioner may permit a reasonable time to conform with state law.

5 Del. C. 1953, § ?790; 49 Del. Laws, c. 126; 57 Del. Laws, c. 740, § ?19F;

Terms Used In Delaware Code Title 5 Sec. 790

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Bank: means a state or a national bank. See Delaware Code Title 5 Sec. 781
  • Converting bank: means a bank converted from a state to a national bank, or the reverse. See Delaware Code Title 5 Sec. 781
  • 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
  • State bank: means a bank or trust company chartered under the laws of this State. See Delaware Code Title 5 Sec. 781
  Previous section
Next section  
 Subchapter VI Contents