Sections
§ 2901 Scope of chapter 18
§ 2902 “Annuity” defined 18
§ 2903 “Industrial life insurance” defined 18
§ 2904 Standard provisions required 18
§ 2905 Payment of premiums 18
§ 2906 Grace period 18
§ 2907 Entire contract 18
§ 2908 Incontestability 18
§ 2909 Misstatement of age 18
§ 2910 Dividends 18
§ 2911 Policy loan 18
§ 2912 Table of installments 18
§ 2913 Reinstatement 18
§ 2914 Payment of claims 18
§ 2915 Beneficiary, industrial policies 18
§ 2916 Title 18
§ 2917 Excluded or restricted coverage 18
§ 2918 Standard provisions; annuity and pure endowment contracts 18
§ 2919 Grace period; annuities 18
§ 2920 Incontestability; annuities 18
§ 2921 Entire contract; annuities 18
§ 2922 Misstatement of age or sex; annuities 18
§ 2923 Dividends; annuities 18
§ 2924 Reinstatement; annuities 18
§ 2925 Standard provisions; reversionary annuities 18
§ 2926 Limitation of liability 18
§ 2927 Prohibited provisions 18
§ 2928 Provisions required by law of other jurisdiction 18
§ 2929 Standard nonforfeiture law — Generally 18
§ 2929A Standard nonforfeiture law; individual deferred annuities 18
§ 2930 Incontestability; limitation of liability after reinstatement 18
§ 2931 Participating, nonparticipating policies; right to issue 18
§ 2932 Variable annuity contracts and life insurance policies; grace, reinstatement, nonforfeiture and reserve liability provisions 18
§ 2933 Prohibited policy plans 18
§ 2934 Registered policies, bonds; deposit 18
§ 2935 Registered policies, bonds — Identification 18
§ 2936 Registered policies, bonds — Records of Commissioner; valuation 18
§ 2937 Registered policies, bonds — Additional deposits 18
§ 2938 Registered policies, bonds — Deficient deposit 18
§ 2939 Registered policies, bonds — Effect of insolvency 18
§ 2940 Registered policies, bonds — Applicability of general deposit provisions 18
§ 2941 Notification and reasons for cancellation 18

Terms Used In Delaware Code > Title 18 > Chapter 29

  • Adjusted RBC Report: means an RBC report which has been adjusted by the Commissioner in accordance with § 5802(e) of this title. See Delaware Code Title 18 Sec. 5801
  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Arrest: Taking physical custody of a person by lawful authority.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Authorized Control Level RBC: means the number determined under the risk-based capital formula in accordance with the RBC Instructions;

    d. See Delaware Code Title 18 Sec. 5801

  • Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Child: means a person who has not reached the age of 18 years. See Delaware Code Title 6 Sec. 4307
  • Company Action Level RBC: means , with respect to any insurer, the product of 2. See Delaware Code Title 18 Sec. 5801
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Contract: A legal written agreement that becomes binding when signed.
  • Conviction: A judgement of guilt against a criminal defendant.
  • Corrective order: means an order issued by the Commissioner specifying corrective actions which the Commissioner has determined are required. See Delaware Code Title 18 Sec. 5801
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Dependent: A person dependent for support upon another.
  • Docket: A log containing brief entries of court proceedings.
  • dollars: means lawful money of the United States. See Delaware Code Title 6 Sec. 4307
  • Domestic insurer: means any insurance company domiciled in this State, except insurers not doing business with citizens or residents of the United States or organized or located within the United States. See Delaware Code Title 18 Sec. 5801
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Executor: A male person named in a will to carry out the decedent
  • Felony: A crime carrying a penalty of more than a year in prison.
  • Fiduciary: A trustee, executor, or administrator.
  • Foreign insurer: means any insurance company which is licensed to do business in this State under § 516 of this title, but is not domiciled in this State. See Delaware Code Title 18 Sec. 5801
  • Fraud: Intentional deception resulting in injury to another.
  • Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. Source: Federal Reserve
  • Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mandatory Control Level RBC: means the product of . See Delaware Code Title 18 Sec. 5801
  • Month: means a calendar month, unless otherwise expressed. See Delaware Code Title 6 Sec. 4307
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • NAIC: means the National Association of Insurance Commissioners. See Delaware Code Title 18 Sec. 5801
  • Negative trend: means , with respect to a life and/or health insurer, negative trend over a period of time, as determined in accordance with the Trend Test Calculation included in the RBC Instructions. See Delaware Code Title 18 Sec. 5801
  • Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
  • Oath: includes affirmation in all cases where an affirmation may be substituted for an oath, and "sworn" includes affirmed; and the forms shall be varied accordingly. See Delaware Code Title 6 Sec. 4307
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Personal property: All property that is not real property.
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • Property and casualty insurer: means any insurance company licensed under § 516 of this title, but shall not include monoline mortgage guaranty insurers, financial guaranty insurers and title insurers. See Delaware Code Title 18 Sec. 5801
  • RBC instructions: means the RBC report including risk-based capital instructions adopted by the NAIC; as such, RBC instructions may be amended by the NAIC from time to time in accordance with the procedures adopted by the NAIC. See Delaware Code Title 18 Sec. 5801
  • RBC plan: means a comprehensive financial plan containing the elements specified in § 5803(b) of this title. See Delaware Code Title 18 Sec. 5801
  • RBC report: means the report required in § 5802 of this title. See Delaware Code Title 18 Sec. 5801
  • real property: is synonymous with the phrase "lands, tenements and hereditaments. See Delaware Code Title 6 Sec. 4307
  • Regulatory Action Level RBC: means the product of 1. See Delaware Code Title 18 Sec. 5801
  • Service of process: The service of writs or summonses to the appropriate party.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Statute: A law passed by a legislature.
  • subsidiaries: shall include , in addition to those such corporations where the insurer owns a majority of their stock, those corporations formed or acquired by an insurer where it owns less than a majority of such corporation's voting stock due to the laws of a foreign national which require the insurer to own less than a majority of the voting stock of such subsidiary insurance corporation if it is to operate in that nation. See Delaware Code Title 18 Sec. 3303
  • Testify: Answer questions in court.
  • Total adjusted capital: means the sum of:

    a. See Delaware Code Title 18 Sec. 5801

  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • Trustee: A person or institution holding and administering property in trust.
  • Under age: means an age of less than 18 years. See Delaware Code Title 6 Sec. 4307