CHAPTER 554

SENATE JOINT RESOLUTION NO. 5

AS AMENDED BY

HOUSE AMENDMENT NO. 1

REQUESTING THE STATE BANKING COMMISSIONER AND THE COUNCIL ON BANKING TO STUDY THE STATE OF DELAWARE'S BANKING CODE AND GENERAL BANKING CONDITIONS AND REPORT TO THE SENATE-HOUSE JOINT BANKING COMMITTEE AND THE GOVERNOR.

WHEREAS, the State of Delaware has in recent history experienced problems with regard to its Banking Industry; and

WHEREAS, the Banking Code of the State needs study and revision;

and

WHEREAS, former Governor Sherman W. Tribbitt and the General Assembly have in the past expressed great concern and interest in the Banking Industry of the State of Delaware and desire to bring its problems to light and resolve them; and

WHEREAS, having a healthy Banking Industry regulated bya concise and workable Banking Code, in the end, is beneficial to all the citizens of Delaware; and

WHEREAS, the first step to discovering and resolving the problems of Delaware's Banking Industry and the Banking Code is necessarily

to have responsible and knowledgeable state officers study the industry and the code that regulates it.

NOW, THEREFORE:

BE IT RESOLVED by the Senate and the House of Representatives of the 129th General Assembly of the State of Delaware, with the approval of the Governor as evidenced by his signature appended hereto, that the State Bank Commissioner, the Council on Banking and four members of the Legislature are hereby requested to study the Delaware State Banking Code and the Banking Industry in the State of Delaware with a view toward discovering matters relative to the Industry and the Bank code which need to be changed in order to protect the public interest. Such study shall have due regard for the requirement of confidentiality respecting individual bank records and reports of Federal Regulatory Agencies. The Speaker of the House shall select one Representative from each party and the President Pro Tem shall select one Senator from each party for the study group.

BE IT FURTHER RESOLVED that a summary of the results of the study herein requested be given to each Legislator, that the full report be given to the members of the Senate-House Joint Banking Committee and the Governor, and that the full report be made available on request to all legislators.

BE IT FURTHER RESOLVED that a copy of this joint resolution be sent to the State Bank Commissioner and the members of the Council on Banking.

Approved May 16, 1977.