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Current as of January 01, 2026 | Updated by Findlaw Staff
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.
Cite this article: FindLaw.com - Delaware Code Title 5. Banking § 821. Definitions - last updated January 01, 2026 | https://codes.findlaw.com/de/title-5-banking/de-code-sect-5-821/
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 before relying on it for your legal needs.
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