CHAPTER 336

FORMERLY

SENATE BILL NO, 359

AN ACT To AMEND SECTIONS 701 AND 933 OF TITLE 5 OF THE DELAWARE CODE, RELATING To BANKS AND OTHER FINANCIAL INSTITUTIONS

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE (Two-thirds of all members elected to each house thereof concurring therein):

Section 1 Amend Section 701 of Title 5 of the Delaware Code by deleting from the second sentence thereof the words and punctuation "corporations without capital stock doing a savings bank business, or to", by deleting from the third sentence thereof the words "savings banks or", and by inserting a new sentence at the end of that section, as follows:

"Furthermore, the provisions of this chapter specifically relating to capital stock or stockholders of a bank organind under this chapter shall not apply to a corporation without capital stock doing a savings bank business."

Section 2, Delete Section 933 of Title 5 of the Delaware Code.

Section 3, !limy provision of this Act or the application of any section or part thereof to said Corporation or to any other person or circumstances is held invalid, such invalidity shall not itliect other provisions or applications of this Act that can be given effect without the invalid provision or application.

Approved May 17, 1996