No bank or trust company shall hold more than 10 percent of the capital stock of any other bank or trust company without the approval of the Commissioner. In determining whether to grant such approval, the Commissioner shall consider the convenience and needs of the public of this State. Any acquisition by a bank or trust company of more than 10 percent of the capital stock of any other bank or trust company that was approved by the Commissioner before January 1, 1996, shall be deemed to have been approved by the Commissioner without the survival of any conditions required by former subsection (b) of this section.
Structure Delaware Code
Chapter 7. CORPORATION LAW FOR STATE BANKS AND TRUST COMPANIES
Subchapter IV. Powers and Prohibitions
§ 761. General powers of corporations organized under this chapter.
§ 762. Ownership of real estate used for transaction of business.
§ 763. Membership in Federal Reserve System.
§ 764. Capital notes or debentures.
§ 765. Power of trust company.
§ 766. Power of trust company to act as agent, registrar, trustee, etc.
§ 767. Limitations on powers and activities of banks and trust companies.
§ 768. Loans on security of and purchase of its own capital stock.
§ 769. Ownership of capital stock of another bank or trust company.