Delaware Administrative Code
Title 5 - Banking
100 - State Bank Commissioner
102 - Procedures Governing the Creation and Existence of an Interim Bank
Section 102-6.0 - Decision of Commissioner; Incorporation
Current through Register Vol. 28, No. 3, September 1, 2024
6.1 Within two weeks of the last publication of the Public Notice, the Commissioner shall issue a decision as to whether to charter the Interim Bank. This two week period may be extended by two additional weeks if the Commissioner requires more time or information.
6.2 Upon the Commissioner's approval, the Incorporator shall take the necessary steps to form the Articles of Organization and the Commissioner shall endorse the Articles. The Incorporator shall then incorporate the Interim Bank and file the necessary documents with the Secretary of State.
6.3 A Certificate Authorizing the Transaction of Business shall not be issued until the Interim Bank has been merged with the Insured Bank.
