Delaware Code Title 5 Sec. 1601 – Establishment of savings banks; definition
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Savings banks shall be established or created in this State under and in accordance with this chapter. The term “savings bank,” as used in this chapter, refers to a corporation organized under this chapter. The provisions of this chapter specifically relating to capital stock or stockholders of a savings bank shall not apply to a savings bank without capital stock.
Terms Used In Delaware Code Title 5 Sec. 1601
- 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.
- savings bank: as used in this chapter , refers to a corporation organized under this chapter. See Delaware Code Title 5 Sec. 1601
- 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