Terms Used In Delaware Code > Title 3 > Chapter 9 > Subchapter IV - Miscellaneous Provisions

• Affiliate: means a person that directly, or indirectly through 1 or more intermediaries, controls, or is controlled by, or is under common control with, the person specified. See Delaware Code Title 5 Sec. 773
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Appraisal: A determination of property value.
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Bank: means a state or a national bank. See Delaware Code Title 5 Sec. 781
• Bank: means a Delaware state bank, out-of-state state bank, Delaware national bank or out-of-state national bank. See Delaware Code Title 5 Sec. 795
• Bank: means a bank or trust company existing under the laws of the State, or a national banking association existing under the National Bank Act, as amended (12 U. See Delaware Code Title 5 Sec. 821
• Bank: means a bank or trust company created under this title or a national banking association created under the National Bank Act (12 U. See Delaware Code Title 5 Sec. 801
• Bank holding company: has the meaning specified in the Bank Holding Company Act of 1956, as amended, 12 U. See Delaware Code Title 5 Sec. 795
• Bank holding company: means a company, as defined by the federal Bank Holding Company Act of 1956 (12 U. See Delaware Code Title 5 Sec. 851
• banks: when used in this chapter, do not include such national banks, except as otherwise provided in subchapters VI and VII of this chapter. See Delaware Code Title 5 Sec. 701
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Branch office: has the meaning specified in § 770 of this title. See Delaware Code Title 5 Sec. 795
• Branch office: has the meaning specified in § 770 of this chapter and also includes a foreign branch office as specified in § 771 of this chapter. See Delaware Code Title 5 Sec. 796
• Codicil: An addition, change, or supplement to a will executed with the same formalities required for the will itself.
• Commissioner: means the State Bank Commissioner of the State of Delaware. See Delaware Code Title 5 Sec. 801
• Continuing bank: means a merging bank, the charter of which becomes the charter of the resulting bank. See Delaware Code Title 5 Sec. 781
• Contract: A legal written agreement that becomes binding when signed.
• Control: means beneficial ownership directly, or indirectly through 1 or more intermediaries, of more than 50 per centum of the voting securities or partnership interests in any person other than an individual. See Delaware Code Title 5 Sec. 773
• Converting bank: means a bank converted from a state to a national bank, or the reverse. See Delaware Code Title 5 Sec. 781
• 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.
• Decedent: A deceased person.
• Delaware bank: means a Delaware national bank or a Delaware state bank. See Delaware Code Title 5 Sec. 795
• Delaware bank holding company: means a bank holding company with bank subsidiaries whose operations are principally conducted in Delaware. See Delaware Code Title 5 Sec. 851
• Delaware national bank: means a national banking association created under the National Bank Act (12 U. See Delaware Code Title 5 Sec. 795
• Delaware savings and loan holding company: means a savings and loan holding company (as defined in the Home Owners' Loan Act, as amended, at 12 U. See Delaware Code Title 5 Sec. 861
• Delaware savings bank: means a savings bank organized and existing under the laws of this State that is not a bank as defined in § 2(c) of the Bank Holding Company Act of 1956, as amended, 12 U. See Delaware Code Title 5 Sec. 861
• Delaware state bank: means a bank (as defined in § 101 of this title) chartered under the laws of this State. See Delaware Code Title 5 Sec. 795
• Divest: means to transfer all interest, legal or equitable, to a person or other entity in which the transferor has no interest, direct or indirect, or which has no interest, direct or indirect, in the transferor. See Delaware Code Title 5 Sec. 801
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Executor: A male person named in a will to carry out the decedent
• Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. ^{Source: OCC}
• Fiduciary: A trustee, executor, or administrator.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Institution: means a national bank whose principal place of business is located in Delaware or a Delaware-chartered bank or bank and trust company. See Delaware Code Title 5 Sec. 851
• Insured depository institution: has the meaning specified in 12 U. See Delaware Code Title 5 Sec. 796
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Loans: means consumer loans for personal, property or household purposes, mortgage loans and commercial loans other than to affiliates. See Delaware Code Title 5 Sec. 773
• Located: has the meaning specified in § 831 of this title. See Delaware Code Title 5 Sec. 861
• Merger: includes consolidation. See Delaware Code Title 5 Sec. 781
• Merger: includes merger, consolidation and the purchase or sale of all or substantially all assets. See Delaware Code Title 5 Sec. 795
• Merging bank: means a party to a merger. See Delaware Code Title 5 Sec. 781
• Merging bank: means a bank that is a party to a merger. See Delaware Code Title 5 Sec. 795
• Month: means a calendar month, unless otherwise expressed. See Delaware Code Title 1 Sec. 302
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• National bank: means a national bank association located in this State. See Delaware Code Title 5 Sec. 781
• National bank: means a Delaware national bank or an out-of-state national bank. See Delaware Code Title 5 Sec. 795
• National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. ^{Source: OCC}
• National Bank Examiner: An employee of the Comptroller of the Currency whose function is to examine national banks periodically to determine the financial position of a bank and the security of its deposits. The examiner also verifies that the bank maintains procedures consistent with federal banking laws and regulations. ^{Source: OCC}
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Out-of-state bank: means an out-of-state state bank or an out-of-state national bank. See Delaware Code Title 5 Sec. 795
• Out-of-state bank holding company: has the meaning specified in the Bank Holding Company Act of 1956, as amended (12 U. See Delaware Code Title 5 Sec. 801
• Out-of-state bank holding company: means an out-of-state bank holding company as defined in § 801(2) of this title. See Delaware Code Title 5 Sec. 821
• Out-of-state national bank: means a national bank association created under the National Bank Act (12 U. See Delaware Code Title 5 Sec. 795
• Out-of-state state bank: means a state bank, as defined in the Federal Deposit Insurance Act, as amended, at 12 U. See Delaware Code Title 5 Sec. 795
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Personal property: All property that is not real property.
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Quorum: The number of legislators that must be present to do business.
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• Resulting bank: means the bank resulting from a merger or conversion. See Delaware Code Title 5 Sec. 781
• Savings and loan holding company: has the meaning specified in the Home Owners' Loan Act, as amended, at 12 U. See Delaware Code Title 5 Sec. 795
• State: means the State of Delaware; and when applied to different parts of the United States, it includes the District of Columbia and the several territories and possessions of the United States. See Delaware Code Title 1 Sec. 302
• State assisted bank: means a bank which the State has, in order to relieve financial distress determined to exist by the State Bank Commissioner, assisted by means of a grant, loan, asset purchase or deposit made pursuant to a plan or agreement if:

  a. See Delaware Code Title 5 Sec. 821

• State bank: means a bank or trust company chartered under the laws of this State. See Delaware Code Title 5 Sec. 781
• Statute: A law passed by a legislature.
• Subsidiary: means , with respect to an out-of-state bank holding company:

  a. See Delaware Code Title 5 Sec. 801

• Subsidiary: means a subsidiary as defined in § 801(6) of this title. See Delaware Code Title 5 Sec. 821
• Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
• Trust company powers: means all of the powers, rights, privileges and franchises incident to a trust company established under subchapter IV of this chapter, except:

  a. See Delaware Code Title 5 Sec. 773

• Trustee: A person or institution holding and administering property in trust.
• United States: includes its territories and possessions and the District of Columbia. See Delaware Code Title 1 Sec. 302
• Year: means a calendar year, and is equivalent to the words "year of our Lord. See Delaware Code Title 1 Sec. 302