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Can you summarize 5 DEAC 700?
Banking > Corporation Law for State Banks and Trust Companies
Short Summary
The provided legal document content covers various aspects of corporation law for state banks and trust companies in Delaware. It includes procedures for establishing mobile branch offices, requirements for merger applications, notice requirements for banks and trust companies engaging in insurance business, limitations on debt accretion for subsidiaries engaged in insurance activities, procedures for conversion or acquisition of building and loan associations, dissolution procedures for state chartered banks or trust companies, procedures for opening branch offices outside Delaware, regulations for subsidiaries engaged in securities activities, application process for Limited Purpose Trust Companies, and procedures for organizing banks or limited purpose trust companies. These documents apply to banks, trust companies, out-of-state banks, merging national banks, building and loan associations, state chartered banks, and limited purpose trust companies. No specific exemptions or penalties are mentioned in these documents.
Whom does it apply to?
Banks, trust companies, out-of-state banks, merging national banks, building and loan associations, state chartered banks, limited purpose trust companies
What does it govern?
Procedures for banks and trust companies to establish a mobile branch office in Delaware, procedures for the merger of out-of-state banks with Delaware banks, notice requirements for Delaware banks and trust companies that engage in the business of insurance, limitations on the accretion of debt for purposes of increasing capital or surplus by a division or subsidiary of a bank or trust company engaged in insurance activities, procedures and applications for the conversion or simultaneous conversion and acquisition of a building and loan association to a bank, procedures for the dissolution of a state chartered bank or trust company in Delaware, procedures for banks and trust companies applying to open branch offices outside the State of Delaware, procedures for banks or bank and trust companies establishing or acquiring a subsidiary engaged in securities activities, application process for obtaining a Certificate of Public Convenience and Advantage for a Limited Purpose Trust Company in Delaware, procedures for filing an application to organize a bank or limited purpose trust company in Delaware
What are exemptions?
No specific exemptions are mentioned in these documents.
What are the Penalties?
No specific penalties are mentioned in these documents.
Jurisdiction
Delaware