Delaware § 5508 - Certificate of authority — Revocation.
Full text of Delaware Delaware Code § 5508 — Certificate of authority — Revocation., with citation guidance and answers to common questions.
§ 5508. Certificate of authority — Revocation.
The Commissioner shall forthwith revoke the certificate of authority of an association if, from an examination of the affairs of the association or for other cause and after notice to the association and a hearing before the Commissioner, the Commissioner finds that as to the association any 1 or more of the following grounds exist:
(1) It is insolvent, or its assets are not sufficient for carrying on its business;
(2) Its condition is such as to render its further proceeding hazardous to its certificate holders or to the public, notwithstanding any special provision granted in its charter or certificate of incorporation;
(3) It is fraudulently conducted; or
(4) It has violated or failed to comply with this chapter.
18 Del. C. 1953, § 5508; 56 Del. Laws, c. 380, § 1;Frequently Asked Questions About Delaware § 5508
What does Delaware Code § 5508 cover?
Section 5508 ("Certificate of authority — Revocation.") is part of the Delaware Code, the codified statutory law of Delaware. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Delaware § 5508?
A common citation format is "Delaware Code § 5508" (Delaware). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Delaware law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Delaware official source linked on this page or consult a licensed Delaware attorney.
How does Delaware § 5508 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Delaware can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Delaware.