Delaware Code Title 18 Sec. 501 – “Stock insurer” defined
Current as of: 2023 | Check for updates
|
Other versions
A “stock insurer” is an incorporated insurer with its capital divided into shares and owned by its stockholders. Unless otherwise provided, the insurance department or division of a corporation established under Chapter 7 of Title 5 (but not the corporation itself) shall be deemed to be a stock insurer for purposes of this title, even though it has no capital divided into shares and owned by stockholders.
18 Del. C. 1953, § ?501; 56 Del. Laws, c. 380, § ?1; 67 Del. Laws, c. 223, § ?18;
Terms Used In Delaware Code Title 18 Sec. 501
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.