Any person, partnership, association or corporation, singly or jointly with others, and without regard to that entity's residence,
domicile or state of incorporation, may, upon the execution of written articles of association and upon compliance with this
chapter, form a corporation, with the powers conferred by this chapter.
70 Del. Laws, c. 112, § 77; 70 Del. Laws, c. 186, § 1.;
§ 1511. Articles of association; contents and execution.
(a) The articles of association of a credit card institution shall be executed by the incorporator(s), shall be acknowledged
and shall set forth the intention of forming a corporation under this chapter, and shall specifically state:
(1) The name by which the corporation shall be known;
(2) The purpose for which it is formed;
(3) The city or town where its single place of business in this State open to the public will be located;
(4) The amount of its capital stock, and the number of shares into which it is to be divided;
(5) The number of its directors, which shall not be less than 5;
(6) Whether or not the corporation is to have perpetual existence, and if not, the time when its existence is to cease;
(7) Whether the private property of the stockholders shall be subject to the payment of corporate debts, and if so, to what
extent.
(b) The articles of association may also contain other provisions defining, limiting and regulating the powers of the corporation,
the powers and duties of the directors and the powers of the stockholders, if such provisions are consonant with the object,
purpose and provisions of this chapter and are not in conflict with this Code or any other general statute of this State relating
to banks.
70 Del. Laws, c. 112, § 77.;
§ 1512. Notice of intention to incorporate; publication.
Notice of the intention of the incorporator(s) to form a credit card institution shall be given to the State Bank Commissioner,
and a notice in such form as the Commissioner shall approve shall be published at least once a week, for 2 successive weeks,
in 1 or more newspapers designated by the Commissioner, at least 1 of which newspapers shall be published in the county where
it is proposed to establish the office of the credit card institution. The published notice shall specify the name of the
incorporator(s) organizing the credit card institution, the name of the proposed corporation, the city or the town where it
is to be located, and the amount of its capital stock.
70 Del. Laws, c. 112, § 77; 72 Del. Laws, c. 15, § 19.;
§ 1513. Application for certificate of public convenience and advantage.
Within 60 days after the second publication of the notice of intention to incorporate but not before the expiration of 20
days from the date of the second publication, the incorporator(s) shall apply to the State Bank Commissioner for a certificate
that public convenience and advantage will be promoted by the establishment of the credit card institution.
70 Del. Laws, c. 112, § 77; 72 Del. Laws, c. 15, § 20.;
§ 1514. Determination of public convenience.
Upon the application for a certificate that public convenience and advantage will be promoted by the establishment of the
credit card institution, the State Bank Commissioner shall consider and determine whether public convenience and advantage
would be promoted by the establishment of the credit card institution, and whether the terms and provisions of the articles
of association and the proposed corporation's location and plan of operation are in compliance with this chapter, and shall
issue or refuse to issue a certificate in accordance with such determination. In making such determination, the State Bank
Commissioner shall consider, in addition to such other matters as the Commissioner may deem relevant, the experience of the
incorporator(s) in the credit card business and with respect to the acceptance and administration of time deposits, and, if
applicable, the quality of management and past financial performance. If the Commissioner refuses to issue a certificate,
no further proceedings shall be had, but the application may be renewed after 1 year from the date of the refusal. If the
Commissioner issues the certificate, the incorporator(s) shall hold the first meeting and follow the procedure prescribed
by § 1515 of this title.
At the organizational meeting or at any adjournment thereof, the incorporator(s) shall appoint a temporary secretary, adopt
bylaws and elect, in such matter as the bylaws may determine, directors, a president, a secretary and such other officers
as the bylaws may prescribe. All the officers so elected shall be sworn to the faithful performance of their duties. The temporary
secretary shall make and attest a record of the proceedings until the secretary has been chosen and sworn, including a record
of such choice and qualification.
70 Del. Laws, c. 112, § 77.;
§ 1516. Articles of organization -- Contents.
The president and a majority of the directors elected at the organizational meeting shall make, sign and make oath to, a certificate
(hereinafter called "articles of organization" setting forth: A true copy of the articles of association; the name of the
subscriber(s) thereto; the name, residence and post-office address of each of the officers of the corporation; and the date
of the first meeting and the successive adjournments thereof, if any.
70 Del. Laws, c. 112, § 77.;
§ 1517. Same -- Approval.
The articles of organization, together with the records of the proposed corporation, shall be submitted to the State Bank
Commissioner. The Commissioner shall examine the same, and may require such amendment thereof or such additional information
as the Commissioner may consider proper or necessary. If the Commissioner finds that the provisions of law have been complied
with, the Commissioner shall endorse the Commissioner's approval upon the articles of organization.
70 Del. Laws, c. 112, § 77.;
§ 1518. Same -- Filing.
The articles of organization with the endorsement of the State Bank Commissioner shall, within 30 days after the date of the
endorsement, be filed in the office of the Secretary of State.
70 Del. Laws, c. 112, § 77.;
§ 1519. Certificate of incorporation.
(a) Upon the filing of the articles of organization as required by § 1518 of this title, the Secretary of State shall issue
a certificate of incorporation in the following form:
STATE OF DELAWARE
Be it known that whereas (the name of the incorporator(s)) has (have)
executed articles of association with the intention of forming, pursuant to
the provisions of Chapter 15 of this title of the Code, a corporation under
the name of (the name of the corporation), for the purpose (the purpose
declared in the articles of association), with a capital stock of (the amount
fixed in the articles of association), and having its sole place of business
in the State of Delaware in (the city or town where its place of business will
be located) and has (have) complied with the statutes of this State in such
case made and provided, as appears from the articles of organization of the
corporation, duly approved by the State Bank Commissioner and on file in this
office, now therefore, I (the name of the Secretary of State), Secretary of
State of Delaware, do hereby certify that (the name of the incorporator(s)),
that entity's successors and assigns, is (are) legally organized and
established as, and is (are) hereby made, an existing corporation under the
name of (name of the corporation), with the powers, rights and privileges, and
subject to the limitations, duties and restrictions which by law appertain
thereto.
Witness my official signature hereunto subscribed, and the Great Seal of the
State of Delaware hereunto affixed, this ........... day of ..............
in the year ............ (the date of the filing of the articles of organization).
(b) The Secretary of State shall sign the certificate of incorporation and cause the Great Seal of the State to be thereto
affixed and shall deliver the same to the corporation together with a certified copy of the articles of organization and the
endorsement of the State Bank Commissioner thereon, upon payment of the costs and charges thereof. A certified copy of the
certificate shall be kept on file in the office of the Secretary of State with the articles of organization, and the certificate
together with the articles of organization and endorsement thereon of the State Bank Commissioner shall be recorded in the
office of the recorder of deeds for the county in which the place of business of the corporation is to be located.
(c) The certificate or a copy thereof duly certified by the Secretary of State, together with a certified copy of the articles
of organization and the endorsement thereon of the State Bank Commissioner, accompanied with the certificate of the recorder
of deeds for the county wherein the same is recorded under the Commissioner's hand and seal of office, stating that the certificate
and articles of organization have been recorded in the office of the recorder, or a copy of the record duly certified by the
recorder, shall be evidence in all courts of this State.
70 Del. Laws, c. 112, § 77; 70 Del. Laws, c. 186, § 1.;
§ 1520. Commencement of corporate existence.
Upon the issuance of the certificate of incorporation by the Secretary of State and the recording of the certificate and articles
of organization as provided in § 1519 of this title, the incorporator(s) named in the certificate, any successors, and assigns
shall from the date of the certificate be and constitute a body corporate, for the purposes and by the name set forth in the
certificate, subject to dissolution or the revocation or forfeiture of the franchise under this chapter or under this Code
or any other statute of this State relating to the dissolution of or to the revocation or forfeiture of the charter or franchise
of banks or trust companies; but the corporation shall not have the right to do any business until it has secured from the
State Bank Commissioner of this State the certificate provided for in § 1521 of this title.
70 Del. Laws, c. 112, § 77; 70 Del. Laws, c. 186, § 1.;
§ 1521. Certificate authorizing transaction of business.
A certified copy of the certificate of incorporation and of the articles of organization and the endorsement of the approval
of the State Bank Commissioner shall be filed with the State Bank Commissioner; and when the whole capital stock has been
issued, the president and the cashier or treasurer of the corporation shall certify the names and addresses of the stockholders
and the number of shares owned by them. Upon receipt of such certification, the Commissioner shall cause an examination to
be made of the method of payment of the capital stock and if, after the examination, it appears that the whole capital stock
stated in the articles of association has been paid in cash, and that all requirements of this Code and any other applicable
law have been complied with, the Commissioner shall issue a certificate authorizing the corporation to begin the transaction
of business. No corporation shall begin the transaction of business until a certificate has been granted authorizing it to
do so.
70 Del. Laws, c. 112, § 77.;
§ 1522. Revocation of charter for failure to commence business within 6 months.
Every corporation created under this chapter shall within 6 months from the date of its incorporation be actively engaged
in the business for which it was created or its certificate of incorporation and corporate franchise shall be deemed and held
to be revoked.
70 Del. Laws, c. 112, § 77.;
§ 1523. Fees.
(a) The following fees shall be collected by and paid to the Secretary of State, for the use of the State: For making and
issuing the certificate of incorporation, $10; for making the certified copy of the articles of organization, $10; for making
the certified copy of the certificate of incorporation to be kept on file in the office of the Secretary of State and for
filing and indexing the same and the articles of organization in said office, $5; for supplying any additional certified copy
of the certificate of incorporation or articles of organization requested by the corporation, $5.
(b) Before issuing the certificate authorizing the corporation to begin the transaction of business, the State Bank Commissioner
shall collect from the corporation, for the use of the State, the sum of $5,750. In addition, the applicant shall pay an investigation
fee of $1,150 which shall not be refundable and shall be submitted with the application.
Any person, partnership, association or corporation, singly or jointly with others, and without regard to that entity's residence,
domicile or state of incorporation, may, upon the execution of written articles of association and upon compliance with this
chapter, form a corporation, with the powers conferred by this chapter.
70 Del. Laws, c. 112, § 77; 70 Del. Laws, c. 186, § 1.;
§ 1511. Articles of association; contents and execution.
(a) The articles of association of a credit card institution shall be executed by the incorporator(s), shall be acknowledged
and shall set forth the intention of forming a corporation under this chapter, and shall specifically state:
(1) The name by which the corporation shall be known;
(2) The purpose for which it is formed;
(3) The city or town where its single place of business in this State open to the public will be located;
(4) The amount of its capital stock, and the number of shares into which it is to be divided;
(5) The number of its directors, which shall not be less than 5;
(6) Whether or not the corporation is to have perpetual existence, and if not, the time when its existence is to cease;
(7) Whether the private property of the stockholders shall be subject to the payment of corporate debts, and if so, to what
extent.
(b) The articles of association may also contain other provisions defining, limiting and regulating the powers of the corporation,
the powers and duties of the directors and the powers of the stockholders, if such provisions are consonant with the object,
purpose and provisions of this chapter and are not in conflict with this Code or any other general statute of this State relating
to banks.
70 Del. Laws, c. 112, § 77.;
§ 1512. Notice of intention to incorporate; publication.
Notice of the intention of the incorporator(s) to form a credit card institution shall be given to the State Bank Commissioner,
and a notice in such form as the Commissioner shall approve shall be published at least once a week, for 2 successive weeks,
in 1 or more newspapers designated by the Commissioner, at least 1 of which newspapers shall be published in the county where
it is proposed to establish the office of the credit card institution. The published notice shall specify the name of the
incorporator(s) organizing the credit card institution, the name of the proposed corporation, the city or the town where it
is to be located, and the amount of its capital stock.
70 Del. Laws, c. 112, § 77; 72 Del. Laws, c. 15, § 19.;
§ 1513. Application for certificate of public convenience and advantage.
Within 60 days after the second publication of the notice of intention to incorporate but not before the expiration of 20
days from the date of the second publication, the incorporator(s) shall apply to the State Bank Commissioner for a certificate
that public convenience and advantage will be promoted by the establishment of the credit card institution.
70 Del. Laws, c. 112, § 77; 72 Del. Laws, c. 15, § 20.;
§ 1514. Determination of public convenience.
Upon the application for a certificate that public convenience and advantage will be promoted by the establishment of the
credit card institution, the State Bank Commissioner shall consider and determine whether public convenience and advantage
would be promoted by the establishment of the credit card institution, and whether the terms and provisions of the articles
of association and the proposed corporation's location and plan of operation are in compliance with this chapter, and shall
issue or refuse to issue a certificate in accordance with such determination. In making such determination, the State Bank
Commissioner shall consider, in addition to such other matters as the Commissioner may deem relevant, the experience of the
incorporator(s) in the credit card business and with respect to the acceptance and administration of time deposits, and, if
applicable, the quality of management and past financial performance. If the Commissioner refuses to issue a certificate,
no further proceedings shall be had, but the application may be renewed after 1 year from the date of the refusal. If the
Commissioner issues the certificate, the incorporator(s) shall hold the first meeting and follow the procedure prescribed
by § 1515 of this title.
At the organizational meeting or at any adjournment thereof, the incorporator(s) shall appoint a temporary secretary, adopt
bylaws and elect, in such matter as the bylaws may determine, directors, a president, a secretary and such other officers
as the bylaws may prescribe. All the officers so elected shall be sworn to the faithful performance of their duties. The temporary
secretary shall make and attest a record of the proceedings until the secretary has been chosen and sworn, including a record
of such choice and qualification.
70 Del. Laws, c. 112, § 77.;
§ 1516. Articles of organization -- Contents.
The president and a majority of the directors elected at the organizational meeting shall make, sign and make oath to, a certificate
(hereinafter called "articles of organization" setting forth: A true copy of the articles of association; the name of the
subscriber(s) thereto; the name, residence and post-office address of each of the officers of the corporation; and the date
of the first meeting and the successive adjournments thereof, if any.
70 Del. Laws, c. 112, § 77.;
§ 1517. Same -- Approval.
The articles of organization, together with the records of the proposed corporation, shall be submitted to the State Bank
Commissioner. The Commissioner shall examine the same, and may require such amendment thereof or such additional information
as the Commissioner may consider proper or necessary. If the Commissioner finds that the provisions of law have been complied
with, the Commissioner shall endorse the Commissioner's approval upon the articles of organization.
70 Del. Laws, c. 112, § 77.;
§ 1518. Same -- Filing.
The articles of organization with the endorsement of the State Bank Commissioner shall, within 30 days after the date of the
endorsement, be filed in the office of the Secretary of State.
70 Del. Laws, c. 112, § 77.;
§ 1519. Certificate of incorporation.
(a) Upon the filing of the articles of organization as required by § 1518 of this title, the Secretary of State shall issue
a certificate of incorporation in the following form:
STATE OF DELAWARE
Be it known that whereas (the name of the incorporator(s)) has (have)
executed articles of association with the intention of forming, pursuant to
the provisions of Chapter 15 of this title of the Code, a corporation under
the name of (the name of the corporation), for the purpose (the purpose
declared in the articles of association), with a capital stock of (the amount
fixed in the articles of association), and having its sole place of business
in the State of Delaware in (the city or town where its place of business will
be located) and has (have) complied with the statutes of this State in such
case made and provided, as appears from the articles of organization of the
corporation, duly approved by the State Bank Commissioner and on file in this
office, now therefore, I (the name of the Secretary of State), Secretary of
State of Delaware, do hereby certify that (the name of the incorporator(s)),
that entity's successors and assigns, is (are) legally organized and
established as, and is (are) hereby made, an existing corporation under the
name of (name of the corporation), with the powers, rights and privileges, and
subject to the limitations, duties and restrictions which by law appertain
thereto.
Witness my official signature hereunto subscribed, and the Great Seal of the
State of Delaware hereunto affixed, this ........... day of ..............
in the year ............ (the date of the filing of the articles of organization).
(b) The Secretary of State shall sign the certificate of incorporation and cause the Great Seal of the State to be thereto
affixed and shall deliver the same to the corporation together with a certified copy of the articles of organization and the
endorsement of the State Bank Commissioner thereon, upon payment of the costs and charges thereof. A certified copy of the
certificate shall be kept on file in the office of the Secretary of State with the articles of organization, and the certificate
together with the articles of organization and endorsement thereon of the State Bank Commissioner shall be recorded in the
office of the recorder of deeds for the county in which the place of business of the corporation is to be located.
(c) The certificate or a copy thereof duly certified by the Secretary of State, together with a certified copy of the articles
of organization and the endorsement thereon of the State Bank Commissioner, accompanied with the certificate of the recorder
of deeds for the county wherein the same is recorded under the Commissioner's hand and seal of office, stating that the certificate
and articles of organization have been recorded in the office of the recorder, or a copy of the record duly certified by the
recorder, shall be evidence in all courts of this State.
70 Del. Laws, c. 112, § 77; 70 Del. Laws, c. 186, § 1.;
§ 1520. Commencement of corporate existence.
Upon the issuance of the certificate of incorporation by the Secretary of State and the recording of the certificate and articles
of organization as provided in § 1519 of this title, the incorporator(s) named in the certificate, any successors, and assigns
shall from the date of the certificate be and constitute a body corporate, for the purposes and by the name set forth in the
certificate, subject to dissolution or the revocation or forfeiture of the franchise under this chapter or under this Code
or any other statute of this State relating to the dissolution of or to the revocation or forfeiture of the charter or franchise
of banks or trust companies; but the corporation shall not have the right to do any business until it has secured from the
State Bank Commissioner of this State the certificate provided for in § 1521 of this title.
70 Del. Laws, c. 112, § 77; 70 Del. Laws, c. 186, § 1.;
§ 1521. Certificate authorizing transaction of business.
A certified copy of the certificate of incorporation and of the articles of organization and the endorsement of the approval
of the State Bank Commissioner shall be filed with the State Bank Commissioner; and when the whole capital stock has been
issued, the president and the cashier or treasurer of the corporation shall certify the names and addresses of the stockholders
and the number of shares owned by them. Upon receipt of such certification, the Commissioner shall cause an examination to
be made of the method of payment of the capital stock and if, after the examination, it appears that the whole capital stock
stated in the articles of association has been paid in cash, and that all requirements of this Code and any other applicable
law have been complied with, the Commissioner shall issue a certificate authorizing the corporation to begin the transaction
of business. No corporation shall begin the transaction of business until a certificate has been granted authorizing it to
do so.
70 Del. Laws, c. 112, § 77.;
§ 1522. Revocation of charter for failure to commence business within 6 months.
Every corporation created under this chapter shall within 6 months from the date of its incorporation be actively engaged
in the business for which it was created or its certificate of incorporation and corporate franchise shall be deemed and held
to be revoked.
70 Del. Laws, c. 112, § 77.;
§ 1523. Fees.
(a) The following fees shall be collected by and paid to the Secretary of State, for the use of the State: For making and
issuing the certificate of incorporation, $10; for making the certified copy of the articles of organization, $10; for making
the certified copy of the certificate of incorporation to be kept on file in the office of the Secretary of State and for
filing and indexing the same and the articles of organization in said office, $5; for supplying any additional certified copy
of the certificate of incorporation or articles of organization requested by the corporation, $5.
(b) Before issuing the certificate authorizing the corporation to begin the transaction of business, the State Bank Commissioner
shall collect from the corporation, for the use of the State, the sum of $5,750. In addition, the applicant shall pay an investigation
fee of $1,150 which shall not be refundable and shall be submitted with the application.
Any person, partnership, association or corporation, singly or jointly with others, and without regard to that entity's residence,
domicile or state of incorporation, may, upon the execution of written articles of association and upon compliance with this
chapter, form a corporation, with the powers conferred by this chapter.
70 Del. Laws, c. 112, § 77; 70 Del. Laws, c. 186, § 1.;
§ 1511. Articles of association; contents and execution.
(a) The articles of association of a credit card institution shall be executed by the incorporator(s), shall be acknowledged
and shall set forth the intention of forming a corporation under this chapter, and shall specifically state:
(1) The name by which the corporation shall be known;
(2) The purpose for which it is formed;
(3) The city or town where its single place of business in this State open to the public will be located;
(4) The amount of its capital stock, and the number of shares into which it is to be divided;
(5) The number of its directors, which shall not be less than 5;
(6) Whether or not the corporation is to have perpetual existence, and if not, the time when its existence is to cease;
(7) Whether the private property of the stockholders shall be subject to the payment of corporate debts, and if so, to what
extent.
(b) The articles of association may also contain other provisions defining, limiting and regulating the powers of the corporation,
the powers and duties of the directors and the powers of the stockholders, if such provisions are consonant with the object,
purpose and provisions of this chapter and are not in conflict with this Code or any other general statute of this State relating
to banks.
70 Del. Laws, c. 112, § 77.;
§ 1512. Notice of intention to incorporate; publication.
Notice of the intention of the incorporator(s) to form a credit card institution shall be given to the State Bank Commissioner,
and a notice in such form as the Commissioner shall approve shall be published at least once a week, for 2 successive weeks,
in 1 or more newspapers designated by the Commissioner, at least 1 of which newspapers shall be published in the county where
it is proposed to establish the office of the credit card institution. The published notice shall specify the name of the
incorporator(s) organizing the credit card institution, the name of the proposed corporation, the city or the town where it
is to be located, and the amount of its capital stock.
70 Del. Laws, c. 112, § 77; 72 Del. Laws, c. 15, § 19.;
§ 1513. Application for certificate of public convenience and advantage.
Within 60 days after the second publication of the notice of intention to incorporate but not before the expiration of 20
days from the date of the second publication, the incorporator(s) shall apply to the State Bank Commissioner for a certificate
that public convenience and advantage will be promoted by the establishment of the credit card institution.
70 Del. Laws, c. 112, § 77; 72 Del. Laws, c. 15, § 20.;
§ 1514. Determination of public convenience.
Upon the application for a certificate that public convenience and advantage will be promoted by the establishment of the
credit card institution, the State Bank Commissioner shall consider and determine whether public convenience and advantage
would be promoted by the establishment of the credit card institution, and whether the terms and provisions of the articles
of association and the proposed corporation's location and plan of operation are in compliance with this chapter, and shall
issue or refuse to issue a certificate in accordance with such determination. In making such determination, the State Bank
Commissioner shall consider, in addition to such other matters as the Commissioner may deem relevant, the experience of the
incorporator(s) in the credit card business and with respect to the acceptance and administration of time deposits, and, if
applicable, the quality of management and past financial performance. If the Commissioner refuses to issue a certificate,
no further proceedings shall be had, but the application may be renewed after 1 year from the date of the refusal. If the
Commissioner issues the certificate, the incorporator(s) shall hold the first meeting and follow the procedure prescribed
by § 1515 of this title.
At the organizational meeting or at any adjournment thereof, the incorporator(s) shall appoint a temporary secretary, adopt
bylaws and elect, in such matter as the bylaws may determine, directors, a president, a secretary and such other officers
as the bylaws may prescribe. All the officers so elected shall be sworn to the faithful performance of their duties. The temporary
secretary shall make and attest a record of the proceedings until the secretary has been chosen and sworn, including a record
of such choice and qualification.
70 Del. Laws, c. 112, § 77.;
§ 1516. Articles of organization -- Contents.
The president and a majority of the directors elected at the organizational meeting shall make, sign and make oath to, a certificate
(hereinafter called "articles of organization" setting forth: A true copy of the articles of association; the name of the
subscriber(s) thereto; the name, residence and post-office address of each of the officers of the corporation; and the date
of the first meeting and the successive adjournments thereof, if any.
70 Del. Laws, c. 112, § 77.;
§ 1517. Same -- Approval.
The articles of organization, together with the records of the proposed corporation, shall be submitted to the State Bank
Commissioner. The Commissioner shall examine the same, and may require such amendment thereof or such additional information
as the Commissioner may consider proper or necessary. If the Commissioner finds that the provisions of law have been complied
with, the Commissioner shall endorse the Commissioner's approval upon the articles of organization.
70 Del. Laws, c. 112, § 77.;
§ 1518. Same -- Filing.
The articles of organization with the endorsement of the State Bank Commissioner shall, within 30 days after the date of the
endorsement, be filed in the office of the Secretary of State.
70 Del. Laws, c. 112, § 77.;
§ 1519. Certificate of incorporation.
(a) Upon the filing of the articles of organization as required by § 1518 of this title, the Secretary of State shall issue
a certificate of incorporation in the following form:
STATE OF DELAWARE
Be it known that whereas (the name of the incorporator(s)) has (have)
executed articles of association with the intention of forming, pursuant to
the provisions of Chapter 15 of this title of the Code, a corporation under
the name of (the name of the corporation), for the purpose (the purpose
declared in the articles of association), with a capital stock of (the amount
fixed in the articles of association), and having its sole place of business
in the State of Delaware in (the city or town where its place of business will
be located) and has (have) complied with the statutes of this State in such
case made and provided, as appears from the articles of organization of the
corporation, duly approved by the State Bank Commissioner and on file in this
office, now therefore, I (the name of the Secretary of State), Secretary of
State of Delaware, do hereby certify that (the name of the incorporator(s)),
that entity's successors and assigns, is (are) legally organized and
established as, and is (are) hereby made, an existing corporation under the
name of (name of the corporation), with the powers, rights and privileges, and
subject to the limitations, duties and restrictions which by law appertain
thereto.
Witness my official signature hereunto subscribed, and the Great Seal of the
State of Delaware hereunto affixed, this ........... day of ..............
in the year ............ (the date of the filing of the articles of organization).
(b) The Secretary of State shall sign the certificate of incorporation and cause the Great Seal of the State to be thereto
affixed and shall deliver the same to the corporation together with a certified copy of the articles of organization and the
endorsement of the State Bank Commissioner thereon, upon payment of the costs and charges thereof. A certified copy of the
certificate shall be kept on file in the office of the Secretary of State with the articles of organization, and the certificate
together with the articles of organization and endorsement thereon of the State Bank Commissioner shall be recorded in the
office of the recorder of deeds for the county in which the place of business of the corporation is to be located.
(c) The certificate or a copy thereof duly certified by the Secretary of State, together with a certified copy of the articles
of organization and the endorsement thereon of the State Bank Commissioner, accompanied with the certificate of the recorder
of deeds for the county wherein the same is recorded under the Commissioner's hand and seal of office, stating that the certificate
and articles of organization have been recorded in the office of the recorder, or a copy of the record duly certified by the
recorder, shall be evidence in all courts of this State.
70 Del. Laws, c. 112, § 77; 70 Del. Laws, c. 186, § 1.;
§ 1520. Commencement of corporate existence.
Upon the issuance of the certificate of incorporation by the Secretary of State and the recording of the certificate and articles
of organization as provided in § 1519 of this title, the incorporator(s) named in the certificate, any successors, and assigns
shall from the date of the certificate be and constitute a body corporate, for the purposes and by the name set forth in the
certificate, subject to dissolution or the revocation or forfeiture of the franchise under this chapter or under this Code
or any other statute of this State relating to the dissolution of or to the revocation or forfeiture of the charter or franchise
of banks or trust companies; but the corporation shall not have the right to do any business until it has secured from the
State Bank Commissioner of this State the certificate provided for in § 1521 of this title.
70 Del. Laws, c. 112, § 77; 70 Del. Laws, c. 186, § 1.;
§ 1521. Certificate authorizing transaction of business.
A certified copy of the certificate of incorporation and of the articles of organization and the endorsement of the approval
of the State Bank Commissioner shall be filed with the State Bank Commissioner; and when the whole capital stock has been
issued, the president and the cashier or treasurer of the corporation shall certify the names and addresses of the stockholders
and the number of shares owned by them. Upon receipt of such certification, the Commissioner shall cause an examination to
be made of the method of payment of the capital stock and if, after the examination, it appears that the whole capital stock
stated in the articles of association has been paid in cash, and that all requirements of this Code and any other applicable
law have been complied with, the Commissioner shall issue a certificate authorizing the corporation to begin the transaction
of business. No corporation shall begin the transaction of business until a certificate has been granted authorizing it to
do so.
70 Del. Laws, c. 112, § 77.;
§ 1522. Revocation of charter for failure to commence business within 6 months.
Every corporation created under this chapter shall within 6 months from the date of its incorporation be actively engaged
in the business for which it was created or its certificate of incorporation and corporate franchise shall be deemed and held
to be revoked.
70 Del. Laws, c. 112, § 77.;
§ 1523. Fees.
(a) The following fees shall be collected by and paid to the Secretary of State, for the use of the State: For making and
issuing the certificate of incorporation, $10; for making the certified copy of the articles of organization, $10; for making
the certified copy of the certificate of incorporation to be kept on file in the office of the Secretary of State and for
filing and indexing the same and the articles of organization in said office, $5; for supplying any additional certified copy
of the certificate of incorporation or articles of organization requested by the corporation, $5.
(b) Before issuing the certificate authorizing the corporation to begin the transaction of business, the State Bank Commissioner
shall collect from the corporation, for the use of the State, the sum of $5,750. In addition, the applicant shall pay an investigation
fee of $1,150 which shall not be refundable and shall be submitted with the application.