Delaware Code > Title 5 > Chapter 50 – Payment Networks
Current as of: 2023 | Check for updates
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Other versions
| Sections | ||
|---|---|---|
| § 5001 | “Payment network” defined | 5 |
| § 5002 | Voting rights of members and selection of governing body | 5 |
| § 5003 | Regulatory authority not created | 5 |
Terms Used In Delaware Code > Title 5 > Chapter 50 - Payment Networks
- Executor: A male person named in a will to carry out the decedent
- 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.
- payment network: as used in this chapter means a nonstock member corporation incorporated under Title 8 which has 50 percent or more of its members organized as:
(1) Banks, thrifts, credit unions or other financial institutions, under the laws of this State, any other state, the laws of a foreign country, the United States of America, a territory of the United States, Puerto Rico, Guam, American Samoa or the Virgin Islands; or
(2) Organizations whose direct or indirect owners or members are financial institutions described in paragraph (1) of this section above, and which has as its principal business the provision of payment network services. See Delaware Code Title 5 Sec. 5001
- Writ: A formal written command, issued from the court, requiring the performance of a specific act.