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2025 Delaware Code
Title 5 - Banking
Chapter 7. CORPORATION LAW FOR STATE BANKS AND TRUST COMPANIES
Subchapter III. Conduct of Internal Corporate Affairs
§ 746. Par value of stock; payment for and issuance; increase and reduction.
Universal Citation:
5 DE Code § 746 (2025)
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§ 746. Par value of stock; payment for and issuance; increase and reduction.
The capital stock shall be divided into shares of a stated par value. No business shall be transacted by the corporation until the whole amount of its capital stock is subscribed for and actually paid in in cash. No stock shall be issued by any corporation until the par value thereof shall be fully paid in in cash. Any corporation may, subject to the approval of the State Bank Commissioner, increase or reduce its capital stock in the manner hereinafter provided. In the case of a reduction, the capital stock shall not be reduced to less than the amount required by § 745 of this title.
38 Del. Laws, c. 94, § 13; Code 1935, § 2382; 49 Del. Laws, c. 120; 51 Del. Laws, c. 14; 64 Del. Laws, c. 386, § 2;
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