Delaware Code Title 5 Sec. 134 – Commissioner’s costs and expenses as receiver; priority
The costs and expenses incurred by the Commissioner in acting as the receiver for any bank or trust company, including the compensation and expenses of all assistants, shall be paid out of the assets of the said bank or trust company and shall have priority over all of its other corporate indebtedness. The costs and expenses incurred by the Commissioner in taking possession of a corporation without being appointed receiver thereof, including the compensation and expenses of all assistants, shall be paid out of the assets of the bank or trust company and shall have priority over its other debts.
32 Del. Laws, c. 103, § ?9; 38 Del. Laws, c. 93, § ?1(3), (4); Code 1935, § ?2297; 5 Del. C. 1953, § ?134; 57 Del. Laws, c. 740, § ?16J;
Terms Used In Delaware Code Title 5 Sec. 134
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.