Upon the application for a certificate that public convenience and advantage will be promoted by the establishment of the savings bank, the State Bank Commissioner shall consider and determine whether public convenience and advantage would be promoted by the establishment of the savings bank, and whether the terms and provisions of the articles of association are in compliance with this chapter and shall issue or refuse to issue a certificate in accordance with such determination. If the Commissioner refuses to issue a certificate, no further proceedings shall be had, but the application may be renewed after 1 year from the date of the refusal. If the Commissioner issues the certificate, the incorporators shall hold the first meeting and follow the procedure prescribed by § 1626 of this title.
Structure Delaware Code
Chapter 16. CORPORATION LAW FOR STATE SAVINGS BANKS
Subchapter II. Formation of a Savings Bank
§ 1621. Incorporators; number and qualifications.
§ 1622. Articles of association; contents and execution.
§ 1623. Notice of intention to incorporate; publication.
§ 1624. Application for a certificate of public convenience and advantage.
§ 1625. Determination of public convenience.
§ 1626. Organization meeting of incorporators; notice; proceedings.
§ 1627. Articles of organization.
§ 1628. Approval of articles of organization.
§ 1629. Filing of articles of organization.
§ 1630. Certificate of incorporation; issuance, form, recording and evidence.
§ 1631. Commencement of corporate existence.
§ 1632. Commencement of business; certificate authorizing.
§ 1633. Revocation of charter for failure to commence business within reasonable time.