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the Delaware Code
2014 Delaware Code
Title 5 - Banking
CHAPTER 7. CORPORATION LAW FOR STATE BANKS AND TRUST COMPANIES
Subchapter I General Provisions
§ 705. Revocation for nonuse of charters granted prior to July 1, 1933
Universal Citation:
2 DE Code § 705 (2014 through 146th Gen Ass)
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Every charter authorizing the establishment of a bank or trust company in this State and which was granted or passed by the General Assembly of this State prior to the 1st day of July, 1933, shall be deemed and held to be revoked for nonuse of corporate franchise unless the corporation created or authorized by such charter was actively engaged in business in this State on December 31, 1933.
32 Del. Laws, c. 103, § 22; 38 Del. Laws, c. 93, § 1(8); Code 1935, § 2310; 5 Del. C. 1953, § 705.;
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