Delaware Code Title 5 Sec. 1724 – Issuance of license; term
If it appears from the annual statement filed with the State Bank Commissioner, that a building and loan association is in a safe or solvent condition, is transacting business in compliance with the law, and payment of the annual renewal license or registration fee as prescribed in § 1722 of this title has been made, then the Commissioner shall issue to the association a license authorizing it to transact its business in this State for 1 year from the date thereof unless the Commissioner deems it necessary, for the protection of the shareholders of the association, or of the public, to sooner revoke the same, which the Commissioner is empowered to do.
32 Del. Laws, c. 107, § ?13; Code 1935, § ?2348; 5 Del. C. 1953, § ?1724; 68 Del. Laws, c. 105, § ?11; 70 Del. Laws, c. 186, § ?1;
Terms Used In Delaware Code Title 5 Sec. 1724
- 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
- Year: means a calendar year, and is equivalent to the words "year of our Lord. See Delaware Code Title 1 Sec. 302