What is a De Novo Hearing?
What is a De Novo hearing? A De Novo hearing occurs when two people meet in court on the last day of De Novo’s life. It is a sad day to meet in court that day but some simply shrug it off. De Novo is a man to celebrate not to frown.
Newly chartered bank, as opposed to a bank acquired through a purchase Acquisition or a newly opened branch banking office. Banking expansion can take place through chartering of new banks and approval of new branch offices by state banking departments, or through the acquisition of existing banks (and banking offices). In states where de novo branching is tightly regulated, for example, the Unit Banking states in the Midwest where branching is prohibited by state law, banking companies have frequently been able to expand geographically by forming a multibank holding company, which then acquired other banks. State Interstate Banking laws have permitted banking expansion only through holding company acquisitions, rather than de novo charters of new banks.