§ 5001. “Payment network” defined.
§ 5001. “Payment network” defined. The term “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 […]
§ 5002. Voting rights of members and selection of governing body.
§ 5002. Voting rights of members and selection of governing body. Notwithstanding any other provision of the laws of this State contained in Title 8 or elsewhere: (1) Unless otherwise provided in the certificate of incorporation of a payment network, or, if the certificate of incorporation so provides, in its bylaws, each member shall be […]
§ 3353. Violations; remedies.
§ 3353. Violations; remedies. (a) Subject to the State Administrative Procedures Act, the Commissioner may issue an order, setting forth an appropriate remedy, including, without limitation, a cease-and-desist order, an order removing any person from office with a licensee or prohibiting any person from further participating in any manner in the conduct of the business […]
§ 3307. Fees.
§ 3307. Fees. The Commissioner shall establish a schedule of fees, which the Commissioner determines to be reasonable and necessary to effectuate the purposes of this chapter, in connection with the licensing, administration and supervision of Bidcos, and such schedule shall be subject to amendment by the Commissioner from time to time. 66 Del. Laws, […]
§ 3354. Receivership.
§ 3354. Receivership. (a) If the Commissioner finds that a licensee is insolvent, or such licensee is transacting business without authority or in violation of this chapter or any other law or it is contrary to the purposes of this chapter for such licensee to continue business, the Commissioner shall communicate the facts to the […]
§ 3308. Liberal construction.
§ 3308. Liberal construction. This chapter shall be liberally construed to accomplish its purposes. 66 Del. Laws, c. 344, § 1;
§ 3355. Penalties.
§ 3355. Penalties. (a) Subject to the State Administrative Procedures Act, should the Commissioner find that any person has violated this chapter, other than that prohibited under § 3352 of this title, the Commissioner may order such person to pay to the State a civil penalty in such amount as the Commissioner may specify. However, […]
§ 3311. Applications; review by Commissioner.
§ 3311. Applications; review by Commissioner. (a) A Delaware corporation may apply to the Commissioner for a license to form and conduct business as a Bidco. A person other than a Delaware corporation may not apply for such a license. (b) An application filed with the Commissioner under this chapter shall be in such form […]
§ 3401. Definitions.
§ 3401. Definitions. As used in this chapter, unless the context requires otherwise: (1) “Commissioner” means the State Bank Commissioner. (2) “Insured institution” means an insured depository institution (as defined in the Federal Deposit Insurance Act at 12 U.S.C. § 1813(c)(2)) or an insured credit union (as defined in the Federal Credit Union Act at […]
§ 3312. Voluntary surrender of Bidco license.
§ 3312. Voluntary surrender of Bidco license. (a) Upon approval of a two-thirds vote of its board of directors and after complying with subsection (b) of this section, a licensee may apply to the Commissioner to have the Commissioner accept the surrender of the license of such licensee. If the Commissioner determines that the requirements […]