Delaware Code
Title 5 - Banking

§ 2242. Salary orders, warrants or assignments as security for loans, confessions of judgment, acceleration; penalties for violations. - (a) No order, warrant or claim of any kind, from...

§ 2243. False or misleading advertising prohibited. - It shall be unlawful for any person to cause to...

§ 2244. Reverse mortgages. - (a) For purposes of this section, unless the context requires...

§ 2245. Mortgage loan modification services; compensation. - (a) As used in this section, unless the context requires...

Subchapter V. Title Loans

§ 2250. Definitions. - As used in this subchapter: (1) “Business day” means all...

§ 2251. Deceptive advertising prohibited. - No licensee shall advertise, market the availability of, or otherwise...

§ 2252. Disclosures. - No licensee shall make a title loan without providing to...

§ 2253. Right of rescission. - (a) A title loan borrower may rescind a title loan...

§ 2254. Rollover limit. - No licensee shall make a title loan rollover that would...

§ 2255. Workout agreement. - (a) If a title loan borrower fails to repay the...

§ 2256. Federal Fair Debt Collection Practices Act. - No licensee who employs a debt collector, as defined in...

§ 2257. Threat of criminal prosecution prohibited. - No licensee shall seek or threaten to seek the criminal...

§ 2258. Interest after default or repossession. - If a title loan borrower defaults on the loan, interest...

§ 2259. Possession of motor vehicle after default. - A licensee may take possession of the motor vehicle that...

§ 2260. Sale of motor vehicle. - Notwithstanding any other provision of law, the proceeds of a...

§ 2261. Notice to borrower. - In addition to any other requirement of law, a licensee...

Chapter 23. SALE OF CHECKS AND TRANSMISSION OF MONEY

§ 2301. Citation. - This chapter may be cited as “The Sale of Checks...

§ 2302. Definitions. - For the purposes of this chapter: (1) “Person” means any...

§ 2303. License required. - No person, except those specified in § 2304 or agents...

§ 2304. Exemption from licensing. - (a) No license shall be required hereunder of banks, trust...

§ 2305. Qualifications. - To qualify for a license hereunder an applicant shall meet...

§ 2306. Applications. - (a) Each application for a license shall be made in...

§ 2307. Accompanying fees and statements. - Each application for a license shall be accompanied by: (1)...

§ 2308. Action by Commissioner; conditional approval; license requirements; acquisition. - (a) Upon the filing of the application and the payment...

§ 2309. Surety bonds and irrevocable letters of credit. - (a) Surety bonds. — (1) Every licensee shall file with...

§ 2310. Annual license fee. - After applicant receives notice of conditional approval by the Commissioner...

§ 2311. Agents. - A licensee may conduct the licensee's business at 1 or...

§ 2312. Liability of licensees. - (a) Each licensee shall be liable for the payment of...

§ 2313. Disclosure of responsibility and evidence of receipt. - (a) Every check sold by a licensee, directly or through...

§ 2314. Examination. - The Commissioner may examine the business, books and records of...

§ 2315. Suspension, revocation or surrender of license. - (a) The Commissioner may revoke any license issued hereunder upon...

§ 2317. Penalties. - Any person who violates any provision of this chapter shall...

§ 2318. Rules and regulations. - The Commissioner may adopt rules and regulations necessary for the...

§ 2319. Multi-state automated licensing system. - (a) The Commissioner is authorized to participate in any automated...

Chapter 24. MORTGAGE LOAN ORIGINATORS

§ 2401. Title. - This chapter may be cited as the “Delaware Secure and...

§ 2402. Purpose. - (a) The activities of mortgage loan originators and the origination...

§ 2403. Definitions. - In this chapter, unless the context otherwise requires: (1) “Commissioner”...

§ 2404. License and registration required. - (a) An individual, unless specifically exempted from this chapter under...

§ 2405. License application. - (a) Applicants for a license shall apply in a form...

§ 2406. Issuance of license; expiration and surrender. - (a) The Commissioner shall not issue a mortgage loan originator...

§ 2407. Prelicensing education. - (a) In order to meet the prelicensing education requirement referred...

§ 2408. Testing. - (a) In order to meet the written test requirement referred...

§ 2409. Standards for license renewal. - (a) Every licensee who desires to continue to engage in...

§ 2410. Continuing education. - (a) In order to meet the annual continuing education requirements...

§ 2411. Authority to require license. - (a) In addition to any other duties imposed upon the...

§ 2412. Nationwide mortgage licensing system and registry information challenge process. - The Commissioner shall establish a process whereby mortgage loan originators...

§ 2413. License revocation or suspension. - (a) The Commissioner may revoke, suspend, condition, or refuse to...

§ 2414. Enforcement authorities, violations and penalties. - (a) Upon finding that a person subject to this chapter...

§ 2415. Surety bond required. - (a) Each mortgage loan originator shall be covered by a...

§ 2416. Confidentiality. - In order to promote more effective regulation and reduce regulatory...

§ 2417. Investigation and examination authority. - (a) In addition to any other authority allowed under this...

§ 2418. Prohibited acts and practices. - It is a violation of this chapter for a person...

§ 2419. Report to nationwide mortgage licensing system and registry. - Notwithstanding any state privacy law, the Commissioner is required to...

§ 2420. Unique identifier shown. - The unique identifier of any person originating a residential mortgage...

§ 2421. Recordkeeping. - Every licensee shall maintain such books, accounts and records as...

§ 2422. Broad administrative authority. - The Commissioner shall have the broad administrative authority to administer,...

§ 2423. Penalty. - Violation of § 2404 of this title is a class...

Chapter 27. CASHING OF CHECKS, DRAFTS OR MONEY ORDERS

Subchapter I. General Provisions

§ 2701. Definitions. - As used in this chapter, unless otherwise specifically defined, or...

§ 2702. Application of chapter. - The provisions of this chapter shall not apply: (1) When...

Subchapter II. License Provisions

§ 2711. Requirement of license. - No person shall engage in the business of cashing checks,...

§ 2712. Form and contents of application for license. - Application for a license required by § 2711 of this...

§ 2713. Fees to be paid at time of application for license. - The applicant, at the time of making the application under...

§ 2714. Surety bonds and irrevocable letters of credit. - (a) Surety bonds. — (1) Every licensee shall file with...

§ 2715. Minimum requirement of liquid assets. - Each applicant for a license shall prove, in form satisfactory...

§ 2716. Issuance of license; conditions precedent. - If the State Bank Commissioner finds that the financial responsibility,...

§ 2717. Refusal of license; disposition of fees. - If the State Bank Commissioner finds that the applicant fails...

§ 2720. Term and renewal of licenses. - A license issued pursuant to this chapter shall be for...

§ 2721. Transferability of license. - The license shall not be transferable or assignable.

§ 2722. Limitation of license. - Not more than 1 place of business or 1 mobile...

§ 2723. License for limited station. - Any licensed casher of checks may open and maintain, within...

§ 2724. Change of place of business or area; change of name. - (a) A licensee may make a written application to the...

§ 2725. Suspension, revocation or surrender of license. - (a) The Commissioner may revoke any license issued hereunder upon...

§ 2726. Multi-state automated licensing system. - (a) The Commissioner is authorized to participate in any automated...

Subchapter III. Regulatory Provisions

§ 2741. Rules and regulations of Commissioner. - The State Bank Commissioner may make such rules and regulations,...

§ 2742. Limitation on fees and charges for cashing checks or money orders. - The licensee shall not charge or collect in fees or...

§ 2743. Books, accounts and records of licensee. - Each licensee under this chapter shall keep and use in...

§ 2745. Violations and penalties. - (a) Whoever violates this chapter shall be fined not more...

Chapter 29. FINANCING THE SALE OF MOTOR VEHICLES

§ 2901. Definition of terms. - As used in this chapter, unless the context or subject...

§ 2902. Licensing of sales finance companies required. - (a) No person shall engage in the business of a...

§ 2903. Renewal of license. - Every holder of a license or a renewal thereof, as...

§ 2904. Suspension, revocation or surrender of license. - (a) The Commissioner may revoke any license issued hereunder upon...

§ 2905. Filing of complaints. - Any retail buyer having reason to believe that this chapter...

§ 2906. Powers of Commissioner. - (a) For the purpose of administering this chapter, determining whether...

§ 2907. Requirements and prohibitions as to retail installment contracts. - (a) A retail installment contract shall be in writing, shall...

§ 2908. Finance charge. - (a) A retail seller or the holder of a retail...

§ 2909. Prepayment. - (a) A buyer may prepay the debt due under a...

§ 2910. Deferred installments. - A holder may at any time or from time to...

§ 2911. Penalties. - (a) Any person who shall wilfully and intentionally violate this...

§ 2912. Waiver unenforceable and void. - Any waiver of this chapter shall be unenforceable and void.

§ 2913. Disclosure requirements. - Notwithstanding any other provision of this chapter to the contrary,...

§ 2914. Surety bonds and irrevocable letters of credit. - (a) Surety bonds. — (1) Every licensee shall file with...

§ 2915. Multi-state automated licensing system. - (a) The Commissioner is authorized to participate in any automated...

Chapter 32. TRANSPORTATION OF MONEY AND VALUABLES

§ 3201. Citation. - This chapter may be cited as the “Transportation of Money...

§ 3202. Definitions. - For purposes of this chapter: (1) “Person” means any individual,...

§ 3203. License required. - No person requiring a license by this chapter shall engage...

§ 3204. Exempt from licensing. - (a) No license as a transporter shall be required of...

§ 3205. Qualifications. - To qualify for a license hereunder an applicant shall meet...

§ 3206. Applications. - Each application for a license shall be made in writing...

§ 3207. Accompanying fees and statements. - Each application for a license shall be accompanied by: (1)...

§ 3208. Action by the Commissioner; conditional approval. - Upon the filing of the application and the payment of...

§ 3209. License; bond; insurance. - (a) Within 30 days after the applicant receives written notice...

§ 3210. Renewal of license; annual license fee. - Every holder of a license or a renewal thereof, as...

§ 3211. Agents. - A licensee may conduct the licensee's business at one or...

§ 3212. Liability of licensee. - (a) Each licensee shall be absolutely liable for any loss,...

§ 3213. Suspension, revocation or surrender of license. - (a) The Commissioner may revoke any license issued hereunder upon...

§ 3216. Penalties. - Any person who violates this chapter shall be fined not...

§ 3217. Rules and regulations. - The Commissioner may adopt such rules and regulations as are...

§ 3218. Limitation on construction of chapter. - This chapter shall not be construed as permitting any corporation,...

§ 3219. State government contracts. - No contract shall be awarded by the State for the...

§ 3220. Supervision and examination of business by the Commissioner. - (a) Every person or combination of persons licensed as a...

§ 3221. Cease and desist orders. - (a) The Commissioner shall have the power and authority to...

Chapter 33. BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATIONS

Subchapter I. General Provisions

§ 3301. Short title. - This chapter shall be known and may be cited as...

§ 3302. Findings; declaration of purposes. - (a) It is determined and declared as a matter of...

§ 3303. Definitions. - For the purposes of this chapter, unless otherwise specifically defined,...

§ 3304. Applicability of other laws. - A corporation licensed under and pursuant to this chapter shall...

§ 3305. Corporate name. - Each corporation licensed under this chapter shall use the word...

§ 3306. Supervision of Bidcos. - (a) The Commissioner shall administer this chapter and shall have...

§ 3307. Fees. - The Commissioner shall establish a schedule of fees, which the...

§ 3308. Liberal construction. - This chapter shall be liberally construed to accomplish its purposes.

Subchapter II. Licensing

§ 3311. Applications; review by Commissioner. - (a) A Delaware corporation may apply to the Commissioner for...

§ 3312. Voluntary surrender of Bidco license. - (a) Upon approval of a two-thirds vote of its board...

Subchapter III. Conduct of Bidco Business

§ 3321. Office. - (a) A licensee shall maintain not less than 1 office...

§ 3322. Business of a Bidco. - (a) The business of a licensee shall be the business...

§ 3323. Control of business firm prohibited; exceptions. - (a) Either by itself or in concert with 1 or...

§ 3324. Business of Bidco to be conducted in prudent business manner. - (a) A licensee shall transact its business in a prudent...

§ 3325. Avoidance of conflict of interest. - (a) A licensee shall avoid any transaction or act which...

Subchapter IV. Mergers, Acquisitions and Sale of Business Assets

§ 3331. General rules. - (a) Without the prior approval of the Commissioner, a licensee...

Subchapter V. Operating Rules Governing Business of Bidcos

§ 3341. Form and maintenance of Bidco records; annual audited report. - (a) A licensee shall make and keep books, accounts and...

§ 3342. Periodic report requirements. - In addition to the audited report required by § 3341(b)...

§ 3343. Examination of Bidcos. - (a) The Commissioner shall visit and examine each licensee as...

Subchapter VI. Enforcement Powers of Commissioner

§ 3351. Investigations. - (a) The Commissioner may make such investigations within or without...

§ 3352. False statements, entries or reports; penalty. - Every director, officer, agent, clerk or employee of any entity...

§ 3353. Violations; remedies. - (a) Subject to the State Administrative Procedures Act, the Commissioner...

§ 3354. Receivership. - (a) If the Commissioner finds that a licensee is insolvent,...

§ 3355. Penalties. - (a) Subject to the State Administrative Procedures Act, should the...

Chapter 34. PRENEED FUNERAL CONTRACTS

§ 3401. Definitions. - As used in this chapter, unless the context requires otherwise:...

§ 3402. Preneed payments and increment as trust funds; disbursement of funds; exceptions. - (a) All payments of money made to any person, partnership,...

§ 3403. Revocable trust accounts; refund to persons making payments. - (a) Except as provided in § 3404 of this title,...

§ 3404. Irrevocable trust accounts. - (a) Any person, partnership or corporation who enters into a...

§ 3405. Trust funds; how kept and deposited. - All trust funds mentioned in this chapter shall be deposited...

§ 3406. License to accept preneed contract required; fees. - (a) No person, firm, partnership, association or corporation may, without...

§ 3407. Records of licensee; requirements; inspection. - The licensee shall keep accurate accounts, books and records in...

§ 3408. Periodic report requirements. - A licensee shall file with the Commissioner such reports at...

§ 3409. State Bank Commissioner to enforce law and establish rules and regulations. - The Commissioner shall enforce this chapter and has the power...

§ 3410. Penalty. - Any person wilfully violating this chapter shall be fined not...

§ 3411. Surety bonds and irrevocable letters of credit. - (a) Surety bonds. — (1) Every person licensed under this...

Chapter 50. PAYMENT NETWORKS

§ 5001. “Payment network” defined. - The term “payment network” as used in this chapter means...

§ 5002. Voting rights of members and selection of governing body. - Notwithstanding any other provision of the laws of this State...

§ 5003. Regulatory authority not created. - This chapter shall not subject a payment network not otherwise...

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Delaware Code Title 5 - Banking

Delaware Code
Title 5 - Banking