# 5 Del. C. § 1664: § Â 1664. Conversion of a nonstock savings bank to a stock savings bank

> Delaware · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_DE_T5_C16_SIV_S1664

## Section

- **Citation:** 5 Del. C. § 1664
- **Heading:** § Â 1664. Conversion of a nonstock savings bank to a stock savings bank
- **Jurisdiction:** Delaware
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Delaware Code / Title 5 / Chapter 16 / Subchapter IV / Section 1664

## Text

Subject to the approval of the Commissioner, a savings bank may convert from a nonstock to a stock form of organization in accordance with such regulations, orders or procedures as may be established or issued by the Commissioner. Such orders and procedures shall be similar in scope and content to, and comply in all material respects with, the mutual-to-stock conversion regulations of the federal insurer of deposits, as currently in effect at the time the nonstock savings bank applies to the Commissioner for approval of the proposed conversion; provided, that conformity with the regulatory requirements imposed by the federal insurer of deposit accounts will not be sufficient for state regulatory purposes if the Commissioner determines that the proposed conversion would pose a risk to the savings bank’s safety and soundness, violate any law or regulation, or present a breach of fiduciary duty.

## Nearby sections

- [5 Del. C. § 1661 § Â
        1661. General powers of corporations organized under this chapter.](https://www.frixlaw.com/law-library/statutes/STATE_DE_T5_C16_SIV_S1661.md)
- [5 Del. C. § 1662 § Â
        1662. Limitations on powers and activities of savings banks.](https://www.frixlaw.com/law-library/statutes/STATE_DE_T5_C16_SIV_S1662.md)
- [5 Del. C. § 1663 § Â
        1663. Loans on security of and purchase of its own capital stock.](https://www.frixlaw.com/law-library/statutes/STATE_DE_T5_C16_SIV_S1663.md)
- [5 Del. C. § 1664 § Â
        1664. Conversion of a nonstock savings bank to a stock savings bank.](https://www.frixlaw.com/law-library/statutes/STATE_DE_T5_C16_SIV_S1664.md)
- [5 Del. C. § 1665 § Â
        1665. Reorganization as a mutual holding company.](https://www.frixlaw.com/law-library/statutes/STATE_DE_T5_C16_SIV_S1665.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_DE_T5_C16_SIV_S1664. Check the current official text before relying on it. Not legal advice.