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3303 Bidco Main and Alternate Office Locations

Published: 2015

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Title 5 Banking

3300 Business and Industrial Development Corporations

3303 Bidco Main and Alternate Office Locations

5 Del.C. §3306(b)

Formerly Regulation No.: 5.3321.0003

Effective Date: January 11, 1993

1.0 Pursuant to §3321 of Title 5 of the Delaware Code, each Bidco shall maintain a main office in the State. Such office shall be designated as the main office and shall be the location at which examinations by the Office of the State Bank Commissioner occur.

2.0 Alternate locations, in or out of the State, may be obtained by providing notice of your intent to establish another location to the Office of the State Bank Commissioner. This notice shall contain, at a minimum:

2.1 The name of the Bidco;

2.2 The address of the alternate location;

2.3 The functions to be performed at this location;

2.4 The personnel/staffing of this location;

2.5 A statement acknowledging the books and records availability requirements set forth in Regulation No. 3306 (formerly 5.3341(a).0006);

2.6 Any such other information the Commissioner may require, or the applicant may choose to provide.

3.0 If, on the basis of the information submitted, the State Bank Commissioner concludes that the request for an alternate location should be approved, the Commissioner shall issue a license permitting such Bidco to conduct the business of, and incidental to, the Bidco at the address contained on the license, in addition to the address for the main office and any other alternate locations which have been or may be approved.

4.0 No Bidco licensee shall maintain an office at any other location than that designated on the license(s).