5 Del. C. § 797D: Organization; number of incorporators [For application of this section, see 85 Del. Laws, c. 346, § 9].

(a) Except as otherwise required by this subchapter, the organization of a family trust company is governed by subchapter II of this chapter. All of the following shall apply to the organization of a family trust company:

(1) The articles of association of a family trust company shall specifically state that the formation of the family trust company is the purpose for which the subscribers thereto associate themselves.

(2) Sections 724, 725, and 726 of this title, and any applicable regulations with respect thereto, shall be inapplicable to the organization of a family trust company. The incorporators of a family trust company shall apply to the Commissioner for a certificate of authority to establish the family trust company.

(3) Any application for a certificate of authority to establish a family trust company shall plainly state on its face that the application is for such a certificate with respect to a family trust company and not for a certificate of public convenience and advantage with respect to a bank, trust company or limited purpose trust company.

(4) Any certificate of authority to establish a family trust company issued by the Commissioner in respect of an application shall similarly state on its face that the certificate of authority approves the formation of a family trust company pursuant to this subchapter.

(b) The number of persons who associate themselves for the purpose of forming a family trust company shall be no less than 3, except to the extent otherwise provided in § 722 of this title for a family trust company that is formed as a limited liability company.