Del. Code 5, § 705 : Banking — Corporation Law For State Banks And Trust Companies — General Provisions — Revocation for nonuse of charters granted prior to July 1, 1933

Current through 2016 Legislative Session, Act 399

Every charter authorizing the establishment of a bank or trust company in this State and which was granted or passed by the General Assembly of this State prior to the 1st day of July, 1933, shall be deemed and held to be revoked for nonuse of corporate franchise unless the corporation created or authorized by such charter was actively engaged in business in this State on December 31, 1933.

Del. C. § 705

32 Del. Laws, c. 103, § 22; 38 Del. Laws, c. 93, § 1(8); Code 1935, § 2310; 5 Del. C. 1953, § 705.;