Section 4703 - DefinitionsThe following words and phrases when used in this chapter shall have the meanings given to them in this section unless the context clearly indicates otherwise:
(1) "Board of directors" or "board" means the board of directors of the land bank.(2) "Land bank" means a land bank established under this chapter and in accordance with the provisions of this chapter.(3) "Foreclosing governmental unit" means any political subdivision of the State of Delaware, where such political subdivision has the power to cause the sale of real property located within its respective jurisdiction for the collection of liens inuring to that political subdivision.(4) "Large jurisdictional land bank" means a land bank established under this chapter and in accordance with the provisions of this chapter that serves one of the following: b. A foreclosing governmental unit, or a combination of foreclosing governmental units that have formed a single land bank by intergovernmental agreement pursuant to 4705(b) of this title, that in total covers an area with a population in excess of 30,000 persons.(5) "Liens" means any lien set forth in § 2901(a)(1) of Title 25.(6) "Vacancy rate" means the percentage of residential structures that have been uninhabited for 6 months or more within a given jurisdiction.Added by Laws 2015, ch. 155,s 1, eff. 9/10/2015.