DE HB20

Authorizes the State Bank Commissioner to approve the purchase by banks and trust companies of their own capital stock shares, subject to terms and conditions the Commissioner may require.

Amends Delaware Code §768 to allow the Commissioner discretionary authority to approve such stock purchases beyond the existing exception for preventing loss on prior debts.

Amends Delaware Code §912 to grant the Commissioner similar approval authority for bank and trust company stock repurchases, with discretionary terms and conditions.

Amends Delaware Code §1663 to extend the Commissioner's approval authority to other corporations established under that chapter for purchasing their own capital stock.

Becomes effective upon enactment into law.