When an investment is made by any person in the shares of a building and loan association in this State, said investment in trust for another, and no other or further notice of the existence and terms of a legal and valid trust has been given in writing to the association, then, in the event of the death of the trustee, the investment or any part thereof, or the increase thereof, may be paid to the person for whose benefit the investment was made, or his or her legal representative, and the association shall be discharged of any further obligation whatsoever.
Structure Delaware Code
Chapter 19. POWERS AND CONDUCT OF BUSINESS
§ 1901. Members of association.
§ 1902. Special powers of domestic association.
§ 1903. Authorized plans of operation.
§ 1906. Premiums, fines and fees.
§ 1907. Withdrawal value of shares.
§ 1908. Investment of association's funds in corporate stock.
§ 1909. Membership in Federal Home Loan Bank.
§ 1910. Borrowing from Federal Home Loan Bank.
§ 1911. Power to borrow generally.
§ 1912. Limitation on loans not secured by first mortgage on real estate.
§ 1918. Investments standing in the name of decedents.
§ 1919. Investments standing in the names of 2 or more persons.