CHAPTER 93

FORMERLY

SENATE BILL NO. 216

AN ACT TO AMEND TITLE 5 OF THE DELAWARE CODE RELATING TO BANKING.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:

Section 1. Amend Chapter 9, Title 5 of the Delaware Code by striking §910 thereof and substituting the following:

§910. Investment limitations

No bank or trust company shall invest more than 25 percent of its total capital, surplus and undivided profits in the stock, bonds or other obligations of any one corporation or political entity or political division except bonds or other obligations of or guaranteed by the United States or any agency or instrumentality thereof including, without limitation, obligations of The Federal National Mortgage Association, The Federal Home Loan Mortgage Corporation and Public Housing Authorities, or obligations of the State or its municipalities, subdivisions, agencies or instrumentalities."

Approved June 21, 1977.