Every corporation created under this chapter shall, after the expiration of a reasonable time from the date of its incorporation, as determined by the State Bank Commissioner, be actively engaged in the business for which it was created or its certificate of incorporation and corporate franchise shall be deemed and held to be revoked. The Commissioner shall by regulations prescribe the criteria to be applied in determining what constitutes a reasonable period of time.
Structure Delaware Code
Chapter 7. CORPORATION LAW FOR STATE BANKS AND TRUST COMPANIES
Subchapter II. Formation of Bank or Trust Company
§ 722. Incorporators; number and qualifications.
§ 723. Articles of association; contents and execution.
§ 724. Notice of intention to incorporate; publication.
§ 725. Application for a certificate of public convenience and advantage.
§ 726. Determination of public convenience.
§ 727. Organization meeting of incorporators; notice; proceedings.
§ 728. Articles of organization.
§ 729. Approval of articles of organization.
§ 730. Filing of articles of organization.
§ 731. Certificate of incorporation; issuance, form, recording and evidence.
§ 732. Commencement of corporate existence.
§ 733. Commencement of business; certificate authorizing.
§ 734. Revocation of charter for failure to commence business within reasonable time.