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2019 Delaware Code
Title 18 - Insurance Code
Chapter 49. Organization and Corporate Powers; Procedures of Domestic Stock and Mutual Insurers
§ 4909 Mutual insurers — Failure to qualify.
Universal Citation: 18 DE Code § 4909 (2019)
If the proposed domestic mutual insurer fails to complete its organization and to secure its original certificate of authority within 1 year from and after date of its solicitation permit, the corporation shall transact no further business, and the Commissioner shall return or cause to be returned to the persons entitled thereto all advance deposits or payments of premiums held in trust under § 4907 of this title.
18 Del. C. 1953, § 4909; 56 Del. Laws, c. 380, § 1.
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