CHAPTER 246

FORMERLY

SENATE BILL NO. 277

AN ACT TO AMEND CHAPTER 1, TITLE 5, DELAWARE CODE, RELATING TO RESERVE REQUIREMENTS.

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

Section 1. Amend §128, Chapter 1, Title 5, Delaware Code, by deleting said section in its entirety and substituting in lieu thereof the following:

"§128. Federal Reserve System Reserve Requirements

The Commissioner, in determining, in the course of his examination, the amount of lawful money reserve required under this Code and any other law of this State to be maintained, at all times, by State banks and trust companies, shall not require those State banks and trust companies that hold reserves under federal statutes to maintain a greater reserve than that required by the Federal Reserve Act."

Approved May 29, 1980