Sections
Subchapter I Acquisition of Stock in New Banks in Delaware before September 29, 1995 801 – 807
Subchapter II Acquisition of Stock and Assets of, and Interests in, Banks to Which the State Has Provided Financial Assistance and Obtained an Ownership Interest 821 – 826
Subchapter III Acquisition of Delaware Savings Banks 831 – 837
Subchapter IV Acquisition of Stock in Delaware Banks and Bank Holding Companies 841 – 847
Subchapter V Regulation of Delaware Bank Holding Companies 851 – 857
Subchapter VI Regulation of Delaware Savings and Loan Holding Companies 861 – 866

Terms Used In Delaware Code > Title 5 > Chapter 8

  • Academic year: shall mean the 3 consecutive academic semesters beginning with the fall semester. See Delaware Code Title 14 Sec. 3402A
  • Academic year: shall mean the 2 consecutive academic semesters beginning with the fall semester. See Delaware Code Title 14 Sec. 3410A
  • Academic year: means the 3 consecutive academic semesters beginning with the fall semester. See Delaware Code Title 14 Sec. 3422A
  • Account: means an individual account, a trust account or a savings account established in accordance with this subchapter. See Delaware Code Title 14 Sec. 3485
  • Account owner: means the individual, individuals, or the trustee of a trust identified at the time the account is opened as having the right to withdraw funds from the account. See Delaware Code Title 14 Sec. 3485
  • Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
  • adult person: means a person of the age of 18 years or older. See Delaware Code Title 6 Sec. 4307
  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Allegation: something that someone says happened.
  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Appraisal: A determination of property value.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Attorney-at-law: A person who is legally qualified and licensed to practice law, and to represent and act for clients in legal proceedings.
  • Ballot: means those portions of cardboard, paper or other material to be placed within the ballot frames of a voting machine or to be used for absentee voting in order to list the names of the offices to be voted for, the name of each candidate and the designation of the party by which the candidate is nominated, a space for the voter to write in the name of any candidate of that voter's choice for any office, and the statement of any question submitted with provision for a "yes" or "no" vote. See Delaware Code Title 15 Sec. 101
  • Bank: means a bank or trust company created under this title or a national banking association created under the National Bank Act (12 U. See Delaware Code Title 5 Sec. 801
  • 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. See Delaware Code Title 5 Sec. 821
  • Bank holding company: means a company, as defined by the federal Bank Holding Company Act of 1956 (12 U. See Delaware Code Title 5 Sec. 851
  • Bequest: Property gifted by will.
  • Board: means the Plans Management Board pursuant to § 2722 of Title 29. See Delaware Code Title 14 Sec. 3485
  • Board: means that body of individuals appointed by the Governor and confirmed by the Senate to serve or who otherwise serve as the State Board of Elections in accordance with Chapter 2 of this title, and are, as such, vested with the responsibility and power to see to the administration of the election laws of this State as more particularly defined in this title. See Delaware Code Title 15 Sec. 101
  • Borrower: means a person obtaining or desiring to obtain a mortgage loan. See Delaware Code Title 7 Sec. 9101
  • Child: means a person of 3 years of age, or an earlier age if otherwise provided in this title, until the receipt of a regular high school diploma or the end of the school year in which the person attains the age of 21, whichever occurs first. See Delaware Code Title 14 Sec. 3101
  • Child with a disability: means a child who because of mental, physical, emotional, developmental, speech or learning disability problems, as defined by the Department of Education rules and regulations approved by the State Board of Education, requires special education and related services in order to develop that person's own capabilities. See Delaware Code Title 14 Sec. 3101
  • Clerk: means clerk of election. See Delaware Code Title 15 Sec. 101
  • Commissioner: means the State Bank Commissioner of the State of Delaware. See Delaware Code Title 5 Sec. 801
  • Commissioner: means the State Bank Commissioner. See Delaware Code Title 7 Sec. 9101
  • Commissioner: means the State Election Commissioner. See Delaware Code Title 15 Sec. 101
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Conviction: A judgement of guilt against a criminal defendant.
  • County committee: means the regularly organized and constituted county committee or governing authority of a political party. See Delaware Code Title 15 Sec. 101
  • court: as used in this chapter shall mean either the Resident Judge of the county in which the person appealing the decision resides, or, in case of such judge's disability or absence from the county, any judge entitled to sit in the Supreme Court. See Delaware Code Title 14 Sec. 2729
  • Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. Source: OCC
  • Cross examine: Questioning of a witness by the attorney for the other side.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Delaware bank holding company: means a bank holding company with bank subsidiaries whose operations are principally conducted in Delaware. See Delaware Code Title 5 Sec. 851
  • Delaware savings and loan holding company: means a savings and loan holding company (as defined in the Home Owners' Loan Act, as amended, at 12 U. See Delaware Code Title 5 Sec. 861
  • Delaware savings bank: means a savings bank organized and existing under the laws of this State that is not a bank as defined in § 2(c) of the Bank Holding Company Act of 1956, as amended, 12 U. See Delaware Code Title 5 Sec. 861
  • Department: means the Department of Health and Social Services. See Delaware Code Title 16 Sec. 101
  • Department: means the State Department of Elections, consisting of the State Board of Elections and such staff as the Board shall appoint under this title, but shall not include the State Election Commissioner. See Delaware Code Title 15 Sec. 101
  • Designated beneficiary: means , except as provided in § 3490 of this title, the individual designated at the time the account is opened as having the right to receive a qualified withdrawal for the payment of qualified higher education expenses or, if such designated beneficiary is replaced in accordance with § 3490 of this title, such replacement. See Delaware Code Title 14 Sec. 3485
  • Devise: To gift property by will.
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • Disqualifying felony: shall mean that type of felony set forth in § 2, article V of the Constitution of this State which permanently disqualifies any person convicted of such felony from voting. See Delaware Code Title 14 Sec. 4125
  • District: means a reorganized school district and the school district of the City of Wilmington. See Delaware Code Title 14 Sec. 1901
  • Divest: means to transfer all interest, legal or equitable, to a person or other entity in which the transferor has no interest, direct or indirect, or which has no interest, direct or indirect, in the transferor. See Delaware Code Title 5 Sec. 801
  • Division: means the Division of Public Health. See Delaware Code Title 16 Sec. 101
  • Docket: A log containing brief entries of court proceedings.
  • dollars: means lawful money of the United States. See Delaware Code Title 6 Sec. 4307
  • Election Management System: refers to the computer programs and databases managed by the State Election Commissioner and used by the State Election Commissioner and the Department of Elections to maintain voter registration records, to manage absentee voting, maintain election officer information, maintain polling place information, structure elections and for other purposes. See Delaware Code Title 15 Sec. 101
  • Election officers: means the inspector of election, the 2 judges of election and the clerks of election who are appointed for each election district under § 4701 of this title. See Delaware Code Title 15 Sec. 101
  • Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
  • Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. Source: OCC
  • Ex officio: Literally, by virtue of one's office.
  • Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
  • Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
  • Felony: A crime carrying a penalty of more than a year in prison.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Forbearance: A means of handling a delinquent loan. A
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. Source: OCC
  • Fraud: Intentional deception resulting in injury to another.
  • Free appropriate public education: means special education that is specially designed instruction including classroom instruction, instruction in physical education, home instruction and instruction in hospitals and institutions, and related services as defined by Department of Education rules and regulations approved by the State Board of Education and as may be required to assist a child with a disability to benefit from an education that:

    a. See Delaware Code Title 14 Sec. 3101

  • Freedom of Information Act: A federal law that mandates that all the records created and kept by federal agencies in the executive branch of government must be open for public inspection and copying. The only exceptions are those records that fall into one of nine exempted categories listed in the statute. Source: OCC
  • Full-time: shall mean a minimum of 24 credit hours in each academic year. See Delaware Code Title 14 Sec. 3402A
  • Full-time: shall mean a minimum of 24 credit hours in each academic year. See Delaware Code Title 14 Sec. 3410A
  • Full-time: means a minimum of 24 credit hours or 300 clock hours in each academic year. See Delaware Code Title 14 Sec. 3422A
  • fully discharged: shall mean that a person convicted of a felony which is not disqualifying has served the required sentence of imprisonment, parole, work release, early release, supervised custody, and probation and community supervision. See Delaware Code Title 14 Sec. 4125
  • Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. Source: Federal Reserve
  • Grantee: includes every person to whom a freehold estate or interest is conveyed. See Delaware Code Title 6 Sec. 4307
  • Grantor: includes every person by whom a freehold estate or interest is conveyed. See Delaware Code Title 6 Sec. 4307
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • Higher education institution: means an eligible education institution as defined in 26 U. See Delaware Code Title 14 Sec. 3485
  • Infancy: means an age of less than 18 years. See Delaware Code Title 6 Sec. 4307
  • Inhabitant: means a resident in any place. See Delaware Code Title 6 Sec. 4307
  • Inspector: means inspector of elections. See Delaware Code Title 15 Sec. 101
  • Institution: shall mean Delaware Technical and Community College or the University of Delaware, Associate in Arts Program. See Delaware Code Title 14 Sec. 3402A
  • Institution: shall mean Delaware State University. See Delaware Code Title 14 Sec. 3410A
  • Institution: means a state-funded institution of higher education in this State that offers a CTP Program. See Delaware Code Title 14 Sec. 3422A
  • Institution: means a national bank whose principal place of business is located in Delaware or a Delaware-chartered bank or bank and trust company. See Delaware Code Title 5 Sec. 851
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
  • Judge: means judge of elections. See Delaware Code Title 15 Sec. 101
  • Located in this State: means , with respect to state-chartered banks, banks created under the law of this State and, with respect to national banking associations, banks whose organization certificate identifies an address in this State as the place at which its discount and deposit operations are to be carried out. See Delaware Code Title 5 Sec. 801
  • Major political party: means any political party which, as of December 31 of the year immediately preceding any general election year, has registered in the name of that party voters equal to at least 5 percent of the total number of voters registered in the State. See Delaware Code Title 15 Sec. 101
  • minor child: means a person who has not reached the age of 18 years. See Delaware Code Title 6 Sec. 4307
  • Minor political party: means any political party which does not qualify as a major political party. See Delaware Code Title 15 Sec. 101
  • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
  • Mortgage loan: means an extension of credit secured by a first or secondary mortgage on any 1-to-4 family residential owner-occupied property intended for personal, family or household purposes, which is:

    a. See Delaware Code Title 7 Sec. 9101

  • Mortgage loan broker: means a person who (i) in the ordinary course of business, for compensation or gain, or in the expectation of compensation or gain, either directly or indirectly, negotiates or offers to negotiate, or arranges or solicits, or offers to arrange or solicit, a mortgage loan on behalf of a borrower, or (ii) holds himself out as being able to serve as an agent for any person in an attempt to obtain a mortgage loan; or (iii) holds himself or herself out as being able to serve as an agent or independent contractor to negotiate the terms or conditions of a mortgage loan on behalf of a lender (but who is not a person employed as an employee or agent of the lender). See Delaware Code Title 7 Sec. 9101
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • Nonqualified withdrawal: means a withdrawal from an account that is not:

    a. See Delaware Code Title 14 Sec. 3485

  • Out-of-state bank holding company: has the meaning specified in the Bank Holding Company Act of 1956, as amended (12 U. See Delaware Code Title 5 Sec. 801
  • Out-of-state bank holding company: means an out-of-state bank holding company as defined in § 801(2) of this title. See Delaware Code Title 5 Sec. 821
  • Oversight: Committee review of the activities of a Federal agency or program.
  • Parent: means a biological or natural parent of a child with a disability, or, as appropriate, a stepparent, guardian, educational surrogate parent, appointed educational representative, relative caregiver or custodian. See Delaware Code Title 14 Sec. 3101
  • Person: means an individual, corporation, partnership or any other group of individuals however organized. See Delaware Code Title 7 Sec. 9101
  • person licensed: means any person duly licensed or regulated by the Commissioner pursuant to this chapter. See Delaware Code Title 7 Sec. 9101
  • Plan: means the Delaware College Investment Plan established by this subchapter. See Delaware Code Title 14 Sec. 3485
  • Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
  • political party: means any political organization which elects a state committee and officers of a state committee, by a state convention composed of delegates elected from each representative district in which the party has registered members, and which nominates candidates for electors of President and Vice-President, or nominates candidates for offices to be decided at the general election. See Delaware Code Title 15 Sec. 101
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
  • Primary election: means an election at which voters registered as members of a major political party may vote to determine the nominees of that political party for the general election. See Delaware Code Title 15 Sec. 101
  • Probable cause: A reasonable ground for belief that the offender violated a specific law.
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • Protective counter: means a separate counter built into the voting machine, which cannot be reset, which records the total number of movements of the operating lever. See Delaware Code Title 15 Sec. 101
  • Qualified higher education expenses: means tuition and other permitted expenses as presently set forth in 26 U. See Delaware Code Title 14 Sec. 3485
  • Qualified withdrawal: means a withdrawal from an account to pay the qualified higher education expenses of the designated beneficiary, but only if the withdrawal is made in accordance with the requirements of the Plan. See Delaware Code Title 14 Sec. 3485
  • Question: means any proposition or other question to be submitted to the voters. See Delaware Code Title 15 Sec. 101
  • Quorum: The number of legislators that must be present to do business.
  • Recess: A temporary interruption of the legislative business.
  • Registration officers: means the registrar, assistant registrar and alternate registrars appointed by the Department as defined in this section. See Delaware Code Title 15 Sec. 101
  • Registration record: means a voter's registration record maintained in the State's Election Management System, the list or file of registered voters sent to each election district for use by election officers on the day of the election, and until determined obsolete, it also applies to a voter's record maintained in the county master file. See Delaware Code Title 15 Sec. 101
  • Revolving credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or open-end credit.) Source: OCC
  • School activity: shall mean open house, school curriculum night, parent and teacher conference night, holiday program, or other school-related events conducted by a public middle school or high school where parents, community members, and students are encouraged to attend and participate. See Delaware Code Title 14 Sec. 3402A
  • School activity: shall mean open house, school curriculum night, parent and teacher conference night, holiday program, or other school-related events conducted by a public middle school or high school where parents, community members, and students are encouraged to attend and participate. See Delaware Code Title 14 Sec. 3410A
  • School board: means a board of education of a reorganized school district and the Board of Education of the school district of the City of Wilmington. See Delaware Code Title 14 Sec. 1901
  • Secretary: means the Secretary of the Department of Health and Social Services or such persons as may be designated by the Secretary. See Delaware Code Title 16 Sec. 101
  • Signature: means both a written signature conforming to § 302(23) of Title 1 and a digital or electronic signature that is an electronic sound, symbol or process attached to or logically associated with a document and executed or adopted by a person with the intent to sign the document as specified by the State Election Commissioner. See Delaware Code Title 15 Sec. 101
  • 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. See Delaware Code Title 5 Sec. 821

  • State Board: consists of 9 members who are citizens of this State and appointed as follows:

    (1) The Governor shall appoint, with Senate confirmation, 7 voting members. See Delaware Code Title 14 Sec. 104

  • State chair: means the highest executive officer of a political party of this State. See Delaware Code Title 15 Sec. 101
  • State committee: means the regularly organized and constituted statewide governing authority of a political party in this State. See Delaware Code Title 15 Sec. 101
  • State Election Commissioner: shall mean the State Election Commissioner or the Commissioner's designee. See Delaware Code Title 14 Sec. 4125
  • Student with an intellectual disability: means a student with a cognitive impairment characterized by significant limitations in cognitive functioning and adaptive behavior as expressed in conceptual, social, and practical adaptive skills who meets 1 or both of the following:

    a. See Delaware Code Title 14 Sec. 3422A

  • Subcommittee: means the Reports Appeals Subcommittee of the State Board of Elections. See Delaware Code Title 15 Sec. 101
  • Subpoena: A command to a witness to appear and give testimony.
  • Subsidiary: means , with respect to an out-of-state bank holding company:

    a. See Delaware Code Title 5 Sec. 801

  • Subsidiary: means a subsidiary as defined in § 801(6) of this title. See Delaware Code Title 5 Sec. 821
  • Summons: Another word for subpoena used by the criminal justice system.
  • Testify: Answer questions in court.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • Trust: means a trust which is revocable or irrevocable and which has at least 1 individual as its current beneficiary. See Delaware Code Title 14 Sec. 3485
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
  • Tuition: means costs associated with coursework and CTP Program-related fees. See Delaware Code Title 14 Sec. 3422A
  • Unaffiliated candidate: means any individual who files a declaration as a candidate for any office to be decided at the general election and who is not affiliated with any political party and has not been thus affiliated for at least 3 months prior to the filing of that individual's declaration. See Delaware Code Title 15 Sec. 101
  • Under age: means an age of less than 18 years. See Delaware Code Title 6 Sec. 4307