HOUSE BILL NO. 1092
AS AMENDED BY HOUSE AMENDMENT NO. 1
AN ACT TO AMEND CHAPTER 1, TITLE 5, DELAWARE CODE, RELATING TO NOTIFICATION OF RATE CHANGES.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:
Section 1. Amend Section 121, Chapter 1, Title 5, Delaware Code, by adding the following subsection (e) thereto:
"(e) At such time as the discount rate charged by the Federal Reserve Bank in the Federal Reserve District encompassing the State of Delaware is changed, the Commissioner shall notify all financial institutions as to the effect on the various rates within the Delaware Code and the effective date thereof. The effective date for those rates expressed in §2108, §2907 and §3121, Title 5, Delaware Code, and §4315, Title 6, Delaware Code, shall be fourteen calendar days subsequent to the effective date of the change in the discount rate."
Approved July 11, 1980