Del. Code tit. 6 § 2302

Current through 2024 Legislative Session Act Chapter 531

Section 2302 - Secured demand loans for not less than $5,000 by banks and others

Every contract for the loan or advance of money by banking corporations, within this State, shall be subject to § 2301 of this title. In any case where loans or advances of money, made by banking corporations or otherwise, repayable on demand to an amount not less than $5,000, are made upon warehouse receipts, bills of lading, certificates of stock, certificates of deposit, bills of exchange, bonds, or other negotiable instruments, pledged as collateral security for such repayment, any sum agreed upon, in writing, by the parties to the transaction may be received, or contracted to be received, and collected as compensation for making the advances.

6 Del. C. § 2302

11 Del. Laws, c. 227; Code 1915, § 2622; 28 Del. Laws, c. 213; Code 1935, § 3102; 6 Del. C. 1953, § 2302; 70 Del. Laws, c. 186, § 1.;