2025 Delaware Code
Title 5 - Banking
Chapter 8. ACQUISITION OF INTERESTS IN BANKING INSTITUTIONS; BANK HOLDING COMPANIES
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. Definitions.
As used in this subchapter:
(1) “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. The State owns an equity interest in the bank which the State obtained pursuant to the plan or agreement; and
b. Such equity interest together with any equity interest previously obtained and still held by the State aggregates not less than 25% of the voting rights of all holders of stock or other voting rights.
(2) “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.S.C. § 21 et seq.), whose main office is in this State.
(3) “Out-of-state bank holding company” means an out-of-state bank holding company as defined in § 801(2) of this title.
(4) “Subsidiary” means a subsidiary as defined in § 801(6) of this title.
