Delaware Code Title 18 Sec. 4988 – Commencement of business as a stock insurer
Current as of: 2023 | Check for updates
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No mutual company shall have the power to engage in the business of insurance as a stock company until it complies with all provisions of this chapter.
Terms Used In Delaware Code Title 18 Sec. 4988
- Mutual company: means a mutual insurer that is seeking to convert to a stock insurer under this chapter, including a captive insurance company (notwithstanding § 6916 of this title) that is incorporated as a nonstock corporation and including a foreign mutual insurer that has applied to redomesticate to this State with an intent to file an application to convert from mutual to stock form under this chapter. See Delaware Code Title 18 Sec. 4972
- Stock company: means a stock insurer that meets all of the current requirements for admission to do business as a domestic Delaware insurer. See Delaware Code Title 18 Sec. 4972