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§ 821 — Delaware Law | CourtGPT
  1. Home/
  2. Laws/
  3. Delaware/
  4. Title 5 - Banking/
  5. Chapter 8 - Acquisition of Interests in Banking Institutions; Bank Holding Companiessub/
  6. 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/
  7. § 821
Delaware Legal Code

§ 821

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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.63 Del. Laws, c. 186, § 6;