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MID-PENN NATIONAL MORTGAGE COMPANY v. HUGHES

258 A.2d 291 (1969)

MID-PENN NATIONAL MORTGAGE COMPANY, a Delaware corporation, Plaintiff, v. Randolph HUGHES, State Banking Commissioner, Defendant.

Superior Court of Delaware, New Castle.

October 10, 1969.

Attorney(s) appearing for the Case

Howard M. Berg and Brian P. Murphy, Wilmington, for plaintiff.

Gerald C. Foulk, Deputy Atty. Gen., Wilmington, for State Banking Commissioner.

STIFTEL, President Judge.

Mid-Penn National Mortgage Company is a Delaware corporation but none of its stockholders are Delawareans. Mid-Penn wants to get into the secondary mortgage loan business in Delaware. The State Banking Commissioner says it cannot because it does not comply with Section 3103 of Title 5, Delaware Code. Mid-Penn says that the portion of § 3103 which pertains to corporate applicants is in violation of Article I, § 7, of the Constitution...

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