3305 Bidco Schedule of Investigation and Licensing Fees


Published: 2015

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Title 5 Banking

3300 Business and Industrial Development Corporations



3305 Bidco Schedule of Investigation and Licensing Fees

5 Del.C. §§3306(b) and 3307

Formerly Regulation No.: 5.3307.0005

Effective Date: January 11, 1993

1.0 Pursuant to §3307, Subchapter I of Chapter 33, Title 5 of the Delaware Code, each application submitted for the formation of a Bidco shall be accompanied by a non-refundable investigation fee in the amount of two thousand dollars ($2,000) payable to and for the use of the Office of the State Bank Commissioner. Each application submitted for the merger or acquisition of a Bidco shall be accompanied by a non-refundable investigation fee in the amount of one thousand dollars ($1,000) payable to and for the use of the Office of the State Bank Commissioner.

2.0 The licensing fee for each location shall be in the amount of ($1,000) payable to the Office of the State Bank Commissioner prior to the issuance of a license under Chapter 33 of Title 5 of the Delaware Code and upon renewal thereof.

3.0 Bidco licensees shall be subject to examination pursuant to §122, 5 Del.C. The cost of such examinations shall be assessed to the licensee in accordance with §127(a), 5 Del.C. In addition to the cost of examination and licensure, the Commissioner shall assess annually each licensee a supervisory assessment fee, as provided in §127(b), 5 Del.C. In addition, the licensee shall pay or reimburse the fees, costs, and expenses of any third parties retained by the Commissioner to accomplish this purpose.

4.0 The Commissioner may require reimbursement of any other direct costs incurred in the application/regulation/supervision of a Bidco.