CHAPTER 742

FORMERLY

HOUSE JOINT RESOLUTION NO. 45

AUTHORIZING THE GOVERNOR TO ENTER INTO A CONTRACT WITH F.D.I.C. AND FARMERS BANK.

WHEREAS, on April 2, 1976, Governor Sherman W. Tribbitt; Robert E. Barnett, Chairman of Federal Deposit Insurance Corporation; and Edward W. Hagemeyer, President of Farmers Bank of the State of Delaware, agreed in a Memo of Understanding as to a plan to adopt to revitalize Farmers Bank of the State of Delaware.

NOW, THEREFORE:

BE IT RESOLVED, by the members of the 128th General Assembly, the Governor concurring therein, that the Governor is authorized to enter into a contract with the Federal Deposit Insurance Corporation and the Farmers Bank of the State of Delaware to adopt a plan to restore the Farmers Bank to a viable, competitive institution.

Approved May 20, 1976