5 Del. Admin. Code § 706-2.0 - Response to Notice

2.1 Within thirty (30) days following the filing of the notice required by section 1.3 or 1.4 of these regulations, the State Bank Commissioner shall determine whether the proposed activities therein should be approved or disapproved in whole or in part. If approved in whole or in part, the Commissioner shall forthwith issue a certificate of authority to engage in those activities which have been approved to the bank or trust company filing such notice. If disapproved in whole or in part, the Commissioner shall, pursuant to §10131(c) of Title 29 of the Delaware Code, give written notice to the bank or trust company of such disapproval and the reasons therefor. Such notice shall also:

2.1.1 inform the bank or trust company that it has a right to demand a hearing on its previously filed notice, at which hearing (a) the bank or trust company would have the right to present relevant evidence, (b) to be represented by counsel, and (c) to appear personally or by other representative; and that the Commissioner is obligated to reach his decision based upon substantial evidence of record; and

2.1.2 inform the bank or trust company of the period, not less than ten (10) days from the date of such notice, during which it may request a hearing on its previously filed notice.

2.2 Should the bank or trust company request a hearing under this paragraph, the Commissioner shall fix a date for such hearing and shall provide at least twenty (20) days' advance notice of such hearing date to the bank or trust company.

Notes

5 Del. Admin. Code § 706-2.0