5 Del. Admin. Code § 1102-1.0

Current through Reigster Vol. 28, No. 6, December 1, 2024

Section 1102-1.0 - Statement of Authority

1.1 These regulations are promulgated pursuant to the authority vested in the Commissioner under the provisions of Chapter 14, Title 5, Delaware Code, including without limitation § 1403 (relating to the foreign bank limited purpose branch or foreign bank agency application process); § 1404(a)(2) (relating to the taking and maintenance of deposits by a foreign bank limited purpose branch or foreign bank agency); § 1405 (maintenance of assets by a foreign bank limited purpose branch or foreign bank agency within Delaware); § 1406(a) (relating to the making of written reports to the Commissioner by a foreign bank limited purpose branch or foreign bank agency); § 1407 (relating to the rule-making power of the Commissioner generally); § 1420 (relating to the licensing and operation of a foreign bank representative office); § 1422(a) (relating to the application fee); and § 1424(b) (relating to the fee which must accompany certain reports). The Commissioner is authorized to adopt appropriate regulations regarding the computation of tax liability of a foreign bank limited purpose branch or foreign bank agency or federal branch or agency located in Delaware pursuant to the provisions of §1101(a) of Title 5. Additionally, § 121(b) authorizes the Commissioner to prescribe regulations to carry out the purposes of Title 5.