There is a newer version
of
this Section
2022 Delaware Code
Title 18 - Insurance Code
Chapter 5. AUTHORIZATION OF INSURERS AND GENERAL REQUIREMENTS
§ 502. “Mutual” insurer defined.
Universal Citation: 18 DE Code § 502 (2022)
§ 502. “Mutual” insurer defined.
A “mutual” insurer is an incorporated insurer without capital stock and the governing body of which is elected by its policyholders. This definition shall not be deemed to exclude as “mutual” insurers certain foreign insurers found by the Commissioner to be organized on the mutual plan under the laws of their states of domicile but having temporary share capital or providing for election of the insurer's governing body on a reasonable basis.
18 Del. C. 1953, § 502; 56 Del. Laws, c. 380, § 1;
Disclaimer: These codes may not be the most recent version. Delaware may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
