CHAPTER 107.
BANKS.
AN ACT to amend Chapter 66 of the Revised Code of the State of Delaware, being an act relating to banking.
Be it enacted by the Senate and House of Representatives of the State of Delaware in General Assembly met:
Section 1. That Chapter 66 of the Revised Code of the State of Delaware be, and the same is, hereby amended by adding at the end of said Chapter the following new sections, to wit, -
"2115 A. Sec. 15. When a deposit in any bank, trust company, savings bank or other banking institution in this State, is made in the name of two or more persons, deliverable or payable to either, or to their survivor or survivors, such deposit, or any part thereof, or the increase thereof, may be delivered or paid to either of said persons, or to the survivor or survivors, in due course of business."
"2115 B. Sec. 16. When a deposit in any bank, trust company, savings bank or other banking institution in this State, is made by any person in trust for another, and no other or further notice of the existence and terms of a legal and valid trust shall have been given in writing to the bank, in the event of the death of the trustee, such deposit, or any part thereof, or the increase thereof, may be paid to the person for whom said deposit was made, or his legal representative."
"2115 C. Sec. 17. Any person who shall willfully and maliciously make, circulate or transmit to another or others, any false statement, rumor or suggestion, written, printed or by word of mouth, which is directly or by inference derogatory to the financial condition or affects the solvency or financial standing of any bank, trust company, savings bank, or other banking institution in this State, or who shall counsel, aid, procure, or induce another to start, transmit or circulate any such statement or tumor, shall be guilty of a misdemeanor, and, upon conviction thereof, shall be punished by a fine of not more than Two Thousand Dollars, or by imprisonment for a term of not more than two years or both."
"2115 D. Sec. 18. It shall be lawful for any trust company or State bank heretofore or hereafter incorporated under the laws of this State, to become a member of the Federal Reserve Bank, organized or to be organized in the Federal Reserve District in which such trust company or State bank is located, under the provisions of the act of Congress known as the 'Federal Reserve Act,' approved December twenty-third, one thousand nine hundred and thirteen; and such trust company or State bank may subscribe for, purchase, hold and surrender, from time to time, such amounts of the capital stock of such Federal Reserve Bank as such trust company or State bank may deem advisable or as may be required under said 'Federal Reserve Act,' or any amendment thereof, in order to obtain and continue such membership, and upon the purchase of such stock, to assume the liabilities and become entitled to the benefits recited in said 'Federal Reserve Act.' "
Approved March 8, A. D. 1915.