Delaware Code Title 5 Sec. 857 – Bank Commissioner cooperative agreements
Prior to approving the acquisition by any Delaware bank holding company of any bank located in another state or bank holding company, the Commissioner may enter into cooperative agreements with the appropriate regulatory authorities for the periodic examinations of any out-of-state bank holding company or bank acquired by a Delaware bank holding company and may accept reports of examination and other records from such authorities in lieu of conducting the Commissioner’s own examination. The Commissioner may enter into joint actions with other regulatory authorities having concurrent jurisdiction over any out-of-state bank holding company or bank acquired by a Delaware bank holding company or may take such actions independently to carry out the Commissioner’s responsibilities under this subchapter to assure the safety and soundness of any Delaware bank and to assure compliance with applicable Delaware banking laws.
Terms Used In Delaware Code Title 5 Sec. 857
- 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
- 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
- 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.
- 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