5 Del. C. § 167: Definitions.
Where this section sits in the code
- Title 5. Banking
- State Banking Agencies
- CHAPTER 1. State Bank Commissioner
- Subchapter III. Change in Bank Control
For purposes of this subchapter, the following words and phrases shall have the meanings ascribed to them herein:
(1) “Control” means the power, directly or indirectly, to direct the management or policies of a Delaware chartered bank or trust company or to vote 25% or more of any class of voting securities of such bank or trust company. For purposes of this subchapter, the acquisition of 10% or more of the voting stock of a Delaware chartered bank or trust company shall be presumed to constitute control if such institution has any class of voting securities registered under § 12 of the Securities Exchange Act of 1934 [15 U.S.C. § 78l] or if immediately after the transaction no other person will own a greater proportion of that class of voting securities.
(2) “Delaware chartered bank or trust company” includes any Delaware bank holding company or Delaware savings and loan holding company.
Collected 2026-09-05T23:02:04Z. Source file · JSON