(a) The application for a license shall contain information and be accompanied by a reasonable fee as determined by the Commissioner.
(b) The Commissioner shall issue a license to a foreign bank to establish and maintain a representative office if the Commissioner finds:
(1) The foreign bank and the proposed management of the representative office are each of good character and sound financial standing;
(2) The management of the foreign bank and the proposed management of the representative office are adequate; and
(3) The convenience and needs of persons to be served by the proposed representative office will be promoted.
65 Del. Laws, c. 444, § 6; 71 Del. Laws, c. 254, § 24.
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