reglab/housing_qa huggingface dataset:
18 DE Code § 5014. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 50. Insurance Holding Company System Registration|§ 5014. Supervisory colleges.

§ 5014. Supervisory colleges. (a) Power of Commissioner. — With respect to any insurer registered under § 5004 of this title, and in accordance with subsection (c) of this section below, the Commissioner shall also have the power to participate in a supervisory college for any domestic insurer that is part of an insurance holding company system with international operations in order to determine compliance by the insurer with this chapter. The powers of the Commissioner with respect to supervisory colleges include, but are not limited to, the following:  (1) Initiating the establishment of a supervisory college; (2) Clarifying the membership and participation of other supervisors in the supervisory college; (3) Clarifying the functions of the supervisory college and the role of other regulators, including the establishment of a group-wide supervisor; (4) Coordinating the ongoing activities of the supervisory college, including planning meetings, supervisory activities, and processes for information sharing; and (5) Establishing a crisis management plan. (b) Expenses. — Each registered insurer subject to this section shall be liable for and shall pay the reasonable expenses of the Commissioner's participation in a supervisory college in accordance with subsection (c) of this section below, including reasonable travel expenses. For purposes of this section, a supervisory college may be convened as either a temporary or permanent forum for communication and cooperation between the regulators charged with the supervision of the insurer or its affiliates, and the Commissioner may establish a regular assessment to the insurer for the payment of these expenses. (c) Supervisory college. — In order to assess the business strategy, financial position, legal and regulatory position, risk exposure, risk management and governance processes, and as part of the examination of individual insurers in accordance with § 5006 of this title, the Commissioner may participate in a supervisory college with other regulators charged with supervision of the insurer or its affiliates, including other state, federal and international regulatory agencies. The Commissioner may enter into agreements in accordance with § 5007(c) of this title providing the basis for cooperation between the Commissioner and the other regulatory agencies, and the activities of the supervisory college. Nothing in this section shall delegate to the supervisory college the authority of the Commissioner to regulate or supervise the insurer or its affiliates within its jurisdiction. 79 Del. Laws, c. 388, §  1;
18 DE Code § 5016. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 50. Insurance Holding Company System Registration|§ 5016. Conflict with other laws.

§ 5016. Conflict with other laws. All laws and parts of laws of this State inconsistent with this chapter are hereby superseded with respect to matters covered by this chapter. 68 Del. Laws, c. 325, §  1;  80 Del. Laws, c. 118, §  1;
18 DE Code § 5101. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 51. Insider Trading in Domestic Insurer Securities|§ 5101. Scope of chapter.

§ 5101. Scope of chapter. This chapter shall apply only with respect to securities issued by domestic stock insurers. 18 Del. C. 1953, §  5101;  56 Del. Laws, c. 380, §  1;
18 DE Code § 5102. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 51. Insider Trading in Domestic Insurer Securities|§ 5102. “Equity security” defined.

§ 5102. “Equity security” defined. The term “equity security” when used in this chapter means any stock or similar security or any security convertible, with or without consideration, into such a security or carrying any warrant or right to subscribe to or purchase such a security, or any such warrant or right, or any other security which the Commissioner deems to be of similar nature and considers necessary or appropriate, by such rules and regulations as the Commissioner may prescribe in the public interest or for the protection of investors, to treat as an equity security. 18 Del. C. 1953, §  5102;  56 Del. Laws, c. 380, §  1;  70 Del. Laws, c. 186, §  1;
18 DE Code § 5103. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 51. Insider Trading in Domestic Insurer Securities|§ 5103. Statement of ownership.

§ 5103. Statement of ownership. Every person who is directly or indirectly the beneficial owner of more than 10 percent of any class of any equity security of a domestic stock insurer or who is a director or an officer of such insurer shall file with the Commissioner within 10 days after such person becomes such beneficial owner, director or officer a statement, in such form as the Commissioner may prescribe, of the amount of all equity securities of such insurer of which such person is the beneficial owner and, within 10 days after the close of each calendar month thereafter if there has been a change in such ownership during such month, shall file with the Commissioner a statement, in such form as the Commissioner may prescribe, indicating such person's ownership at the close of the calendar month and such changes in such person's ownership as have occurred during such calendar month. 18 Del. C. 1953, §  5103;  56 Del. Laws, c. 380, §  1;  70 Del. Laws, c. 186, §  1;
18 DE Code § 5104. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 51. Insider Trading in Domestic Insurer Securities|§ 5104. Recovery of profits.

§ 5104. Recovery of profits. (a) For the purpose of preventing the unfair use of information which may have been obtained by such beneficial owner, director or officer by reason of such person's relationship to such insurer, any profit realized by such person from any purchase and sale or any sale and purchase of any equity security of such insurer within any period of less than 6 months, unless such security was acquired in good faith in connection with a debt previously contracted, shall inure to and be recoverable by the insurer, irrespective of any intention on the part of such beneficial owner, director or officer in entering into such transaction of holding the security purchased or of not repurchasing the security sold for a period exceeding 6 months. (b) Suit to recover such profit may be instituted in any court of competent jurisdiction by the insurer or by the owner of any security of the insurer in the name and in behalf of the insurer if the insurer shall fail or refuse to bring such suit within 60 days after request or shall fail diligently to prosecute the same thereafter, but no such suit shall be brought more than 2 years after the date such profit was realized. (c) This section shall not be construed to cover any transaction where such beneficial owner was not such both at the time of the purchase and sale or the sale and purchase of the security involved or any transaction or transactions which the Commissioner by rules and regulations may exempt as not comprehended within the purpose of this section. 18 Del. C. 1953, §  5104;  56 Del. Laws, c. 380, §  1;  70 Del. Laws, c. 186, §  1;
18 DE Code § 5105. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 51. Insider Trading in Domestic Insurer Securities|§ 5105. Unlawful sale of securities.

§ 5105. Unlawful sale of securities. No such beneficial owner, director or officer, directly or indirectly, shall sell any equity security of such insurer if the person selling the security or principal:  (1) Does not own the security sold; or (2) If owning the security does not deliver it against such sale within 20 days thereafter or does not within 5 days after such sale deposit it in the mails or other usual channels of transportation; but no person shall be deemed to have violated this section if such person proves that, notwithstanding the exercise of good faith, was unable to make such delivery or deposit within such time, or that to do so would cause undue inconvenience or expense.18 Del. C. 1953, §  5105;  56 Del. Laws, c. 380, §  1;  70 Del. Laws, c. 186, §  1;
18 DE Code § 5106. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 51. Insider Trading in Domestic Insurer Securities|§ 5106. Excepted securities; dealers.

§ 5106. Excepted securities; dealers. (a) Section 5104 of this title shall not apply to any purchase and sale and § 5105 of this title shall not apply to any sale, of an equity security of a domestic stock insurer not then or theretofore held by such insurer in an investment account by a dealer in the ordinary course of business and incident to the establishment or maintenance by such dealer of a primary or secondary market (otherwise than on an exchange as defined in the Securities Exchange Act of 1934 [15 U.S.C. § 78a et seq.]) for such security. (b) The Commissioner may, by such rules and regulations as the Commissioner deems necessary or appropriate in the public interest, define and prescribe terms and conditions with respect to securities held in an investment account and transactions made in the ordinary course of business and incident to the establishment or maintenance of a primary or secondary market. 18 Del. C. 1953, §  5106;  56 Del. Laws, c. 380, §  1;  70 Del. Laws, c. 186, §  1;
18 DE Code § 5107. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 51. Insider Trading in Domestic Insurer Securities|§ 5107. Arbitrage transactions.

§ 5107. Arbitrage transactions. Sections 5103, 5104 and 5105 of this title shall not apply to foreign or domestic arbitrage transactions unless made in contravention of such rules and regulations as the Commissioner may adopt in order to carry out the purposes of this chapter. 18 Del. C. 1953, §  5107;  56 Del. Laws, c. 380, §  1;
18 DE Code § 5108. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 51. Insider Trading in Domestic Insurer Securities|§ 5108. Registered or closely held securities.

§ 5108. Registered or closely held securities. Sections 5103, 5104 and 5105 of this title shall not apply to equity securities of a domestic stock insurer if:  (1) Such securities shall be registered or shall be required to be registered, pursuant to § 12 of the Securities Exchange Act of 1934, as amended [15 U.S.C. § 78l]; or if (2) Such domestic stock insurer shall not have any class of its equity securities held of record by 100 or more persons on the last business day of the year next preceding the year in which equity securities of the insurer would be subject to the provisions of §§ 5103, 5104 and 5105 of this title except for the provisions of this clause.18 Del. C. 1953, §  5108;  56 Del. Laws, c. 380, §  1;
18 DE Code § 5109. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 51. Insider Trading in Domestic Insurer Securities|§ 5109. Rules and regulations.

§ 5109. Rules and regulations. The Commissioner may make such rules and regulations as may be necessary for the execution of the functions vested in the Commissioner by this chapter and may for such purpose classify domestic stock insurers, securities and other persons or matters within the Commissioner's jurisdiction. No provision of §§ 5103, 5104 and 5105 of this title imposing any liability shall apply to any act done or omitted in good faith in conformity with any rule or regulation of the Commissioner, notwithstanding that such rule or regulation may, after such act or omission, be amended or rescinded or determined by judicial or other authority to be invalid for any reason. 18 Del. C. 1953, §  5109;  56 Del. Laws, c. 380, §  1;  70 Del. Laws, c. 186, §  1;
18 DE Code § 5301. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 53. Mutual Assessment Property Insurers|§ 5301. Scope of chapter; definition.

§ 5301. Scope of chapter; definition. (a) This chapter shall apply only to domestic mutual fire insurers heretofore and now doing business on the assessment premium plan. (b) For the purposes of this chapter an insurer “doing business on the assessment premium plan” is one which depends in whole or substantial part upon special or regular assessments levied upon its members, either prior to or after a loss, for the payment of losses and expenses. This provision shall not be deemed to prevent any such insurer from collecting from each member such initial amount as it may deem proper prior to or at the time of the effectuation of the member's insurance and shall not be deemed to prohibit the acquisition, accumulation and maintenance of surplus or unallocated funds. 18 Del. C. 1953, §  5301;  56 Del. Laws, c. 380, §  1;
18 DE Code § 5302. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 53. Mutual Assessment Property Insurers|§ 5302. Continuation of existing insurers.

§ 5302. Continuation of existing insurers. (a) All such insurers holding subsisting certificates of authority from the Commissioner immediately prior to November 1, 1968, may continue to be so authorized so long as qualified therefor under this title. (b) No new such insurers shall be formed or be newly authorized after November 1, 1968. 18 Del. C. 1953, §  5302;  56 Del. Laws, c. 380, §  1;
18 DE Code § 5303. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 53. Mutual Assessment Property Insurers|§ 5303. Insuring powers.

§ 5303. Insuring powers. (a) Such insurers shall have power to insure only real property and personal property incidental to such real property against the perils of fire, lightning and windstorm, together with perils customarily included under extended coverages. (b) The maximum amount of insurance which the insurer shall retain on any 1 subject of insurance, after deduction of applicable reinsurance, shall not exceed 10% of its admitted assets or $5,000, whichever is the larger amount. For the purposes of this subsection a “subject of insurance” shall have the meaning ascribed in § 909 (limits of risk) of this title. 18 Del. C. 1953, §  5303;  56 Del. Laws, c. 380, §  1;
18 DE Code § 5304. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 53. Mutual Assessment Property Insurers|§ 5304. Reinsurance.

§ 5304. Reinsurance. Such an insurer may cede reinsurance to any insurer authorized to transact property insurance in this State other than on the assessment premium plan. An insurer doing business on the assessment premium plan shall not accept reinsurance from other insurers. 18 Del. C. 1953, §  5304;  56 Del. Laws, c. 380, §  1;
18 DE Code § 5305. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 53. Mutual Assessment Property Insurers|§ 5305. Records.

§ 5305. Records. Every such insurer, through its president and secretary, shall keep or cause to be kept accurate records and accounts of its transactions. The books, files and records of the insurer shall be located at its principal place of business in this State or at such place in this State as may be expressly authorized by the insurer's board of directors with notice thereof in writing to the Commissioner. The books, files and records of the insurer shall be available for inspection by the insurer's directors and officers and by the Commissioner at all reasonable times. 18 Del. C. 1953, §  5305;  56 Del. Laws, c. 380, §  1;
18 DE Code § 5306. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 53. Mutual Assessment Property Insurers|§ 5306. Subject to other provisions.

§ 5306. Subject to other provisions. (a) Such insurers shall be subject to all reasonably applicable provisions of this title except provisions requiring the possession, maintenance or deposit of surplus. (b) Such insurers shall expressly be subject to the following provisions of Chapter 49 of this title (Organization and Corporate Powers, Procedures of Domestic Stock and Mutual Insurers):  (1) Section 4903 (general corporation statutes, applicability); (2) Section 4904 (insurance business exclusive); (3) Section 4911 (membership in mutual); (4) Section 4912 (bylaws of mutual insurers); (5) Section 4913 (minutes of corporate meetings); (6) Section 4919 (change of directors, officers; notice); (7) Section 4920 (prohibited pecuniary interest of officials); (8) Section 4921 (management and exclusive agency contracts); (9) Section 4926 (payment of taxes; exoneration); (10) Sections 4934 through 4942 (merger, consolidation of mutual insurers); (11) Section 4944 (bulk reinsurance); and (12) Section 4945 (mutual member's share of assets on liquidation).18 Del. C. 1953, §  5306;  56 Del. Laws, c. 380, §  1;
18 DE Code § 5501. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 55. Mutual Benefit Associations|§ 5501. Scope of chapter; provisions exclusive.

§ 5501. Scope of chapter; provisions exclusive. (a) This chapter applies only to domestic mutual benefit associations as defined in § 5502 of this title. (b) This title shall not apply to such associations unless contained or referred to in this chapter. 18 Del. C. 1953, §  5501;  56 Del. Laws, c. 380, §  1;
18 DE Code § 5502. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 55. Mutual Benefit Associations|§ 5502. “Mutual benefit association” defined.

§ 5502. “Mutual benefit association” defined. As used in this chapter:  (1) “Association” means a mutual benefit association as defined in this section. (2) “Mutual benefit association” means a corporation, society, order or association which has no capital stock, which issues certificates of membership providing for payment of benefits in case of sickness, disability or death of its members and which accumulates funds by the collection of fees or dues from its members, at either stated or irregular intervals, with which to discharge its liabilities on its membership certificates and with which to pay the administrative expenses, but fraternal benefit societies as defined in Chapter 62 of this title shall not be deemed to be mutual benefit associations.18 Del. C. 1953, §  5502;  56 Del. Laws, c. 380, §  1;
18 DE Code § 5503. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 55. Mutual Benefit Associations|§ 5503. Exempt associations.

§ 5503. Exempt associations. A mutual benefit association whose membership is confined to employees or former employees of common carriers engaged in interstate commerce or any association which administers 2 or more such associations is not subject to the provisions of this chapter. 18 Del. C. 1953, §  5503;  56 Del. Laws, c. 380, §  1;
18 DE Code § 5504. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 55. Mutual Benefit Associations|§ 5504. Incorporation; prerequisites.

§ 5504. Incorporation; prerequisites. The Secretary of State shall not file a certificate of incorporation for any mutual benefit association unless accompanied by a certificate duly signed by the Commissioner setting forth that a deposit of $25,000 has been made with the Commissioner in cash or approved securities, that conformity has been made with all of the requirements of this chapter and that the certificate of incorporation so presented for filing is in substantial compliance with the provisions of the insurance laws of this State. The deposit shall constitute a guaranty fund hereinafter mentioned. 18 Del. C. 1953, §  5504;  56 Del. Laws, c. 380, §  1;  70 Del. Laws, c. 186, §  1;
18 DE Code § 5505. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 55. Mutual Benefit Associations|§ 5505. Certificate of authority required; foreign operations.

§ 5505. Certificate of authority required; foreign operations. (a) No association shall directly or indirectly issue any certificate of membership without being so authorized by a valid and subsisting certificate of authority issued to it by the Commissioner. (b) No association shall issue any certificate of membership in any other state or foreign country unless it holds a valid and subsisting certificate of authority issued to it by the Commissioner. 18 Del. C. 1953, §  5505;  56 Del. Laws, c. 380, §  1;
18 DE Code § 5506. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 55. Mutual Benefit Associations|§ 5506. Certificate of authority — Application.

§ 5506. Certificate of authority — Application. (a) No certificate of authority shall be issued to any association unless it files with the Commissioner:  (1) A certified copy of its certificate of incorporation or charter; (2) A copy of its constitution and bylaws; (3) A copy of all forms of certificates of membership which it proposes to issue; (4) A certified statement that it has a membership of at least 500 persons or that it has at least 500 bona fide applications for membership accompanied by the initial payments; (5) Such other information respecting its business or affairs as may be required by the Commissioner. (b) At the time of application for certificate of authority the association shall deposit with the Commissioner a guaranty fund as required under § 5509 of this title. 18 Del. C. 1953, §  5506;  56 Del. Laws, c. 380, §  1;
18 DE Code § 5507. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 55. Mutual Benefit Associations|§ 5507. Certificate of authority — Issuance; renewal.

§ 5507. Certificate of authority — Issuance; renewal. (a) The Commissioner shall issue a certificate of authority to every mutual benefit association complying with this chapter upon payment of the fee therefor in the amount specified in § 5520 of this title. (b) The certificate of authority shall be valid until the March 1 next following its issuance. So long as the association is qualified therefor the Commissioner shall, upon payment of the fee for renewal specified in § 5520 of this title, annually on March 1 renew the certificate of authority for the ensuing year. 18 Del. C. 1953, §  5507;  56 Del. Laws, c. 380, §  1;
18 DE Code § 5508. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 55. Mutual Benefit Associations|§ 5508. Certificate of authority — Revocation.

§ 5508. Certificate of authority — Revocation. The Commissioner shall forthwith revoke the certificate of authority of an association if, from an examination of the affairs of the association or for other cause and after notice to the association and a hearing before the Commissioner, the Commissioner finds that as to the association any 1 or more of the following grounds exist:  (1) It is insolvent, or its assets are not sufficient for carrying on its business; (2) Its condition is such as to render its further proceeding hazardous to its certificate holders or to the public, notwithstanding any special provision granted in its charter or certificate of incorporation; (3) It is fraudulently conducted; or (4) It has violated or failed to comply with this chapter.18 Del. C. 1953, §  5508;  56 Del. Laws, c. 380, §  1;