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Current as of January 01, 2022 | Updated by FindLaw Staff
No building and loan association whose total assets exceed $10,000,000 or registered office of an association created under the laws of any other state may engage in business within this State unless its shares, savings accounts, savings certificates and other types of share or deposit accounts offered are federally insured. Before an institution which is not federally insured receives funds from a new shareholder, investor, member, subscriber and/or depositor, the institution shall obtain the signature of such person upon a disclosure, on a form approved by the State Bank Commissioner, advising such person that the funds deposited with that institution are not federally insured.
Cite this article: FindLaw.com - Delaware Code Title 5. Banking § 1727. Insurance required - last updated January 01, 2022 | https://codes.findlaw.com/de/title-5-banking/de-code-sect-5-1727.html
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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