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SS1FORSB16 • 2025

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.

Enacted

This bill passed the Legislature and reached final enactment based on the latest official action.

Sponsor
Last action
2026-07-06
Official status
Signed by Governor
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 is a substitute for Senate Bill No.
  • 16.
  • This Act differs from the original bill in two ways: (1) Clarifying this Act requires a greater than majority vote for enactment.

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

  1. 2026-07-06 Delaware General Assembly

    Signed by Governor

  2. 2026-06-18 Delaware General Assembly

    Passed By House. Votes: 36 YES 5 ABSENT

  3. 2026-06-16 Delaware General Assembly

    Reported Out of Committee (Appropriations) in House with 6 On Its Merits

  4. 2026-05-05 Delaware General Assembly

    Reported Out of Committee (Economic Development/Banking/Insurance & Commerce) in House with 9 On Its Merits

  5. 2026-05-05 Delaware General Assembly

    Assigned to Appropriations Committee in House

  6. 2026-04-30 Delaware General Assembly

    Assigned to Economic Development/Banking/Insurance & Commerce Committee in House

  7. 2026-04-23 Delaware General Assembly

    Amendment SA 1 to SS 1 - Introduced and Placed With Bill

  8. 2026-04-23 Delaware General Assembly

    Amendment SA 1 to SS 1 - Passed By Senate. Votes: 18 YES 3 ABSENT

  9. 2026-04-23 Delaware General Assembly

    Passed By Senate. Votes: 20 YES 1 NOT VOTING

  10. 2026-04-22 Delaware General Assembly

    Reported Out of Committee (Finance) in Senate with 1 Favorable, 3 On Its Merits

  11. 2026-04-21 Delaware General Assembly

    Adopted in lieu of the original bill SB 16, and Assigned to Finance Committee in Senate

Official Summary Text

AN ACT TO AMEND TITLE 5 OF THE DELAWARE CODE RELATING TO DELAWARE BANKS AND TRUST COMPANIES.
This Act is a substitute for Senate Bill No. 16. This Act differs from the original bill in two ways:

(1) Clarifying this Act requires a greater than majority vote for enactment.
(2) Providing that Section 5 of this Act is to be implemented the earlier of 1 year from the enactment date or notice by the State Banking Commissioner that final regulations have been published and promulgated.

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 provis