5 Del. Admin. Code § 711-8.0 - Amendment of Name on Certificate of Incorporation and Commencement of Business

8.1 At any time after the Commissioner's decision approving the application for conversion or approving the Simultaneous Transaction, the Applicant shall submit for the Commissioner's endorsement the proposed Articles of Association attached as an exhibit to the Notice of Intent. The Articles of Association shall be filed with the Secretary of State within 30 days after the Commissioner's endorsement.

8.2 The existing Certificate of Incorporation issued to the Applicant by the Secretary of State shall be amended to reflect the name of the Bank.

8.3 Upon issuance of the amended Certificate of Incorporation by the Secretary of State and compliance with all provisions of law, a certified copy of the amended Certificate of Incorporation shall be recorded in the Office of the Recorder or Deeds for the county in which the Applicant was located and in which the place of business of the Bank is to be located, if not the same.

8.4 A certified copy of the Bank's amended Certificate of Incorporation shall be filed with the Commissioner together with a $5,000 fee for each certificate to transact business requested. No transaction of business as a Chapter 7 institution can begin until authorized by the Commissioner by the issuance of a Certificate to Transact Business.

8.5 An application for a Certificate to Transact Business shall include a certification as to the issuance of the whole capital stock of the Bank; a list of stockholders (including the number of shares held by each and the residence and post office address of each stockholder), which list shall be certified by the president and the cashier or treasurer of the Bank; evidence of the deposit of the proceeds of any sale of capital stock in an account for the benefit of the Bank; and evidence satisfactory to the Commissioner demonstrating that FDIC deposit insurance for the Bank has been approved by the FDIC; and in a Simultaneous Transaction evidence that the out-of-state bank holding company has established a separate escrow account for an amount representing the capital stock and paid-in surplus to be contributed to the Bank upon the issuance of the Certificate to Transact Business.

8.6 The Commissioner shall review the application and the status of the Applicant's FDIC insurance. If the above referenced $5,000 fee has been paid and it appears that all requirements of this Regulation and applicable law have been complied with and the Applicant's building and loan license has been surrendered, the Commissioner shall issue a certificate authorizing the Bank to begin the transaction of business.

Form A Application For Approval Of The Conversion Or The Simultaneous Conversion And Acquisition Of A Building And Loan Association To A Bank

Form B Application for Certificate of Public Convenience and Advantage for the Conversion or Simultaneous Conversion and Acquisition of a Building and Loan Association

Notes

5 Del. Admin. Code § 711-8.0