Delaware Code (Titles 8, 9, 25, 30)
8 Del. C. § 126
Banking power denied
Official textdelcode.delaware.gov
# (a)
No corporation organized under this chapter shall possess the power of issuing bills, notes, or other evidences of debt for circulation as money, or the power of carrying on the business of receiving deposits of money.
# (b)
Corporations organized under this chapter to buy, sell and otherwise deal in notes, open accounts and other similar evidences of debt, or to loan money and to take notes, open accounts and other similar evidences of debt as collateral security therefor, shall not be deemed to be engaging in the business of banking.
Amendment history
56 Del. Laws, c. 50; 57 Del. Laws, c. 148, § 4
Source: view the official text
In this title (40 sections)
- 8-102 · Contents of certificate of incorporation
- 8-103 · Execution, acknowledgment, filing, recording and effective date…
- 8-104 · Certificate of incorporation; definition
- 8-105 · Certificate of incorporation and other certificates; evidence
- 8-106 · Commencement of corporate existence
- 8-107 · Powers of incorporators
- 8-108 · Organization meeting of incorporators or directors named in…
- 8-109 · Bylaws
- 8-110 · Emergency bylaws and other powers in emergency [For application…
- 8-111 · Jurisdiction to interpret, apply, enforce or determine the…
- 8-112 · Access to proxy solicitation materials
- 8-113 · Proxy expense reimbursement
- 8-114 · Application of chapter to nonstock corporations
- 8-115 · Forum selection provisions
- 8-116 · Document form, signature and delivery
- 8-121 · General powers
- 8-122 · Specific powers [For application of this section, see 84 Del.…
- 8-123 · Powers respecting securities of other corporations or entities
- 8-124 · Effect of lack of corporate capacity or power; ultra vires
- 8-125 · Conferring academic or honorary degrees
- 8-126 · Banking power denied
- 8-127 · Private foundation; powers and duties
- 8-131 · Registered office in State
- 8-132 · Registered agent in State; resident agent
- 8-133 · Change of location of registered office; change of registered…
- 8-134 · Change of address or name of registered agent
- 8-135 · Resignation of registered agent coupled with appointment of…
- 8-136 · Resignation of registered agent not coupled with appointment of…
- 8-141 · Board of directors; powers; number, qualifications, terms and…
- 8-142 · Officers; titles, duties, selection, term; failure to elect;…
- 8-143 · Loans to employees and officers; guaranty of obligations of…
- 8-144 · Interested directors and officers; controlling stockholder…
- 8-145 · Indemnification of officers, directors, employees and agents;…
- 8-146 · Submission of matters for stockholder vote
- 8-147 · Authorization of agreements and other instruments [For…
- 8-151 · Classes and series of stock; redemption; rights
- 8-152 · Issuance of stock; lawful consideration; fully paid stock
- 8-153 · Consideration for stock
- 8-154 · Determination of amount of capital; capital, surplus and net…
- 8-155 · Fractions of shares