AN ACT TO AMEND TITLE 5 OF THE DELAWARE CODE RELATING TO DELAWARE BANKS AND TRUST COMPANIES.
AN ACT TO AMEND TITLE 5 OF THE DELAWARE CODE RELATING TO DELAWARE BANKS AND TRUST COMPANIES.
Technology
Passed Legislature
This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.
Sponsor
Last action
2026-03-23
Official status
Effective date
Not listed
Plain English Breakdown
Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.
AN ACT TO AMEND TITLE 5 OF THE DELAWARE CODE RELATING TO DELAWARE BANKS AND TRUST COMPANIES.
AN ACT TO AMEND TITLE 5 OF THE DELAWARE CODE RELATING TO DELAWARE BANKS AND TRUST COMPANIES.
What This Bill Does
AN ACT TO AMEND TITLE 5 OF THE DELAWARE CODE RELATING TO DELAWARE BANKS AND TRUST COMPANIES.
This Act, known as the “Delaware Banking Modernization Act of 2026,” amends Title 5 of the Delaware Code to update and modernize various provisions of the Delaware Banking Code.
The Act addresses digital assets, expands the State Bank Commissioner’s authority, modernizes corporate governance and organizational requirements for state-chartered banks and trust companies, facilitates interstate trust company operations and conversions, and expands the authority of out-of-state financial institutions to act as fiduciaries in Delaware.
The following is a section-by-section summary of the Act’s provisions:
Section 1 provides that the Act may be cited as the “Delaware Banking Modernization Act of 2026.”
Section 2 amends § 101 of Title 5 to add two new defined terms to the Delaware Banking Code’s general definitions.
Limits and Unknowns
This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.
Bill History
No action history is stored for this bill yet.
Official Summary Text
AN ACT TO AMEND TITLE 5 OF THE DELAWARE CODE RELATING TO DELAWARE BANKS AND TRUST COMPANIES.
This Act, known as the “Delaware Banking Modernization Act of 2026,” amends Title 5 of the Delaware Code to update and modernize various provisions of the Delaware Banking Code. The Act addresses digital assets, expands the State Bank Commissioner’s authority, modernizes corporate governance and organizational requirements for state-chartered banks and trust companies, facilitates interstate trust company operations and conversions, and expands the authority of out-of-state financial institutions to act as fiduciaries in Delaware. The following is a section-by-section summary of the Act’s provisions:
Section 1 provides that the Act may be cited as the “Delaware Banking Modernization Act of 2026.”
Section 2 amends § 101 of Title 5 to add two new defined terms to the Delaware Banking Code’s general definitions. First, it adds a definition of “Digital Asset,” which means any digital representation of value recorded on a cryptographically-secured distributed ledger or similar technology,