CHAPTER 490

FORMERLY

SENATE BILL NO. 637

AN ACT TO AMEND CHAPTER 7, TITLE 5, DELAWARE CODE, RELATING TO TAXATION OF BANKS AND TRUST COMPANIES.

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

Section 1. Amend §703, Chapter 7, Title 5, Delaware Code, by deleting same and substituting a new §703 to read as follows:

"4703. Taxation

Every corporation created by or under this Chapter, and every corporation whose charter or certificate of incorporation is amended under the provisions of this Chapter, shall be subject to the same taxation as shall be fixed by the laws of this State for banks and trust companies."

Approved July 11, 1978.