The Delaware Interstate Banking Act

This act governs the acquisition of in-state banks and bank holding companies by out-of-state banking organizations, replacing a general prohibition on such acquisitions with a defined set of permitted transactions. It sets eligibility and application requirements that an acquiring out-of-state company must meet, specifies the standards regulators apply in approving or denying an acquisition, and provides a separate, more permissive path for acquisitions involving failing institutions. It also authorizes cooperative supervisory arrangements with the banking authorities of other states and addresses the treatment of banks under corporate takeover law.

Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.