reglab/housing_qa huggingface dataset:
18 DE Code § 6971. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 69. Captive Insurance Companies|Subchapter IV. Branch Captive Insurance Companies|§ 6971. Establishment of a branch captive.

§ 6971. Establishment of a branch captive. A branch captive may be established in this State in accordance with the provisions of this chapter to write any line of business for which captive insurance companies are authorized under § 6903(a) of this title. In addition to the general provisions of this chapter, the provisions of this subchapter shall apply to branch captive insurance companies. 77 Del. Laws, c. 252, §  13;
18 DE Code § 6972. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 69. Captive Insurance Companies|Subchapter IV. Branch Captive Insurance Companies|§ 6972. Definitions.

§ 6972. Definitions. As used in this subchapter, unless the context require otherwise:  (1) “Alien captive insurance company” means any insurance company formed to write insurance business of a nature that the Commissioner determines is otherwise permissible under this chapter and is licensed pursuant to the laws of an alien jurisdiction which imposes statutory or regulatory standards in a form acceptable to the Commissioner on companies transacting the business of insurance in such jurisdiction. (2) “Branch business” means any insurance business transacted by a branch captive insurance company in this State. (3) “Branch captive insurance company” means any alien captive insurance company that has been issued a certificate of authority by the Commissioner to transact the business of insurance in this State through a business unit with a principal place of business in this State, and has not otherwise been issued a certificate of authority by the Commissioner to transact insurance under this chapter. (4) “Branch operations” means any business operations of a branch captive insurance company in this State.77 Del. Laws, c. 252, §  13;
18 DE Code § 6973. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 69. Captive Insurance Companies|Subchapter IV. Branch Captive Insurance Companies|§ 6973. Security required.

§ 6973. Security required. (a) No branch captive insurance company shall be issued a license unless it shall possess and thereafter maintain, as security for the payment of liabilities attributable to the branch operations:  (1) Minimum capital and surplus as set forth in § 6905 of this title; and (2) Reserves on such insurance policies or such reinsurance contracts as may be issued or assumed by the branch captive insurance company through its branch operations, including reserves for losses, allocated loss adjustment expenses, incurred but not reported losses, and unearned premiums with regard to business written through the branch operations; provided, however, the Commissioner may permit a branch captive insurance company to credit against any such reserve requirement either of the following:  a. Assets belonging to the branch captive insurance company that are in trust for, or otherwise segregated and controlled by, a ceding company, that secure the reinsurance obligations of the branch captive insurance company to such ceding company; or b. Assets belonging to a reinsurer if held in trust for, or otherwise under the control of the branch captive insurance company and that secure the obligations of such reinsurer to the branch captive insurance company. (b) Subject to the prior approval of the Commissioner, the amounts required in paragraphs (a)(1) and (2) of this section may be held in the form of:  (1) A trust formed under a trust agreement and funded by assets acceptable to the Commissioner; (2) An irrevocable letter of credit issued or confirmed by a bank approved by the Commissioner; or (3) Any combination thereof. (c) The Commissioner may, on a case by case basis, exempt a branch captive insurance company from any or all of the requirements of this section, provided the Commissioner finds satisfactory evidence of the branch captive insurer's financial stability. 77 Del. Laws, c. 252, §  13;
18 DE Code § 6974. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 69. Captive Insurance Companies|Subchapter IV. Branch Captive Insurance Companies|§ 6974. Annual reports.

§ 6974. Annual reports. (a) Notwithstanding § 6907 of this title, a branch captive insurance company shall file with the Commissioner a copy of all reports and statements required to be filed under the laws of the jurisdiction in which the foreign captive insurance company or alien captive insurance company is formed, verified by oath of 2 of its executive officers. Such reports and statements shall be filed with the Commissioner on the same day that such reports and statements are due in the domiciliary jurisdiction of the foreign captive insurance company or alien captive insurance company. (b) If the Commissioner is satisfied that the annual report filed in accordance with subsection (a) of this section provides adequate information concerning the financial condition of the branch captive insurance company, the Commissioner may waive the requirement for completion of the annual report required under § 6907 of this title. If the Commissioner is not satisfied with the reports and statements filed pursuant to subsection (a) of this section, a report that meets the requirements of § 6907 of this title shall be filed with the Commissioner at such date as the Commissioner shall establish. (c) If the foreign captive insurance company or alien captive insurance company is not required to file reports or statements in its domiciliary jurisdiction, the requirements of § 6907 of this title shall apply. 77 Del. Laws, c. 252, §  13;  80 Del. Laws, c. 46, §  12;
18 DE Code § 6975. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 69. Captive Insurance Companies|Subchapter IV. Branch Captive Insurance Companies|§ 6975. Examination of branch captives.

§ 6975. Examination of branch captives. (a) The examination of a branch captive insurance company pursuant to § 6908 of this title shall be of branch business and branch operations only, so long as the branch captive insurance company provides annually to the Commissioner a certificate of compliance, or its equivalent, issued by or filed with the licensing authority of the domiciliary jurisdiction of the foreign captive insurance company or alien captive insurance company, and demonstrates to the Commissioner's satisfaction that it is operating in sound financial condition in accordance with all applicable laws and regulations of such jurisdiction. (b) Notwithstanding subsection (a) of this section, if the Commissioner elects to waive any of the requirements of § 6973 of this title pursuant to § 6973(c) of this title, the Commissioner shall examine so much of the financial condition and affairs of the foreign captive insurance company or alien captive insurance company as the Commissioner deems appropriate. (c) As a condition of the issuance of a certificate of authority under this chapter, the foreign captive insurance company or alien captive insurance company shall grant authority to the Commissioner for examination of the affairs of such foreign captive insurance company or alien captive insurance company in the jurisdictions in which the foreign captive insurance company or alien captive insurance company is formed, operates or maintains books and records. 77 Del. Laws, c. 252, §  13;  80 Del. Laws, c. 46, §  13;
18 DE Code § 6976. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 69. Captive Insurance Companies|Subchapter IV. Branch Captive Insurance Companies|§ 6976. Taxation of branch captives.

§ 6976. Taxation of branch captives. In the case of a branch captive insurance company, the tax provided for in § 6914 of this title shall apply only to the branch business of such company. 77 Del. Laws, c. 252, §  13;
18 DE Code § 6980. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 69. Captive Insurance Companies|Subchapter V. Miscellaneous|§ 6980. Federal Home Loan Bank membership.

§ 6980. Federal Home Loan Bank membership. A captive insurance company may apply for and become a member of a Federal Home Loan Bank, as defined in 12 U.S.C. § 1422(1)(A). The Commissioner may issue such reasonable rules, regulations and orders as the Commissioner may deem necessary or desirable to effectuate the purposes of this section, including setting standards for captive insurance companies qualifying for, entering into, and reporting advance agreements with Federal Home Loan Banks. 80 Del. Laws, c. 46, §  14;
18 DE Code § 6981. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 69. Captive Insurance Companies|Subchapter V. Miscellaneous|§ 6981. Repeals; effective date; applicability.

§ 6981. Repeals; effective date; applicability. (a) Except as provided in subsection (b) of this section, this chapter shall apply to all captive insurance companies. (b) Chapter 69 of this title as in effect prior to July 11, 2005, chapter is hereby repealed, except as set forth in the next sentence. Chapter 69 of this title as in effect on July 11, 2005, shall apply to any captive insurance company licensed under such chapter as of such date that has not submitted a written notice to the Commissioner under subsection (c) of this section. (c) Any captive insurance company licensed in this State as of July 11, 2005, that otherwise would be subject to the application of Chapter 69 of this title as in effect on such date may elect to become subject to the application of this chapter instead by submitting to the Commissioner a written notice to that effect. 75 Del. Laws, c. 150, §  1;  76 Del. Laws, c. 161, §  14;  77 Del. Laws, c. 252, §  13;
18 DE Code § 6983. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 69. Captive Insurance Companies|Subchapter V. Miscellaneous|§ 6983. Short title.

§ 6983. Short title. This chapter may be cited as the “Delaware Revised Captive Insurance Company Act.” 75 Del. Laws, c. 150, §  1;  76 Del. Laws, c. 161, §  14;  77 Del. Laws, c. 252, §  13;
18 DE Code § 7701. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 77. Suretyship|Subchapter I. Corporate Sureties|§ 7701. Execution and sufficiency of corporate suretyship.

§ 7701. Execution and sufficiency of corporate suretyship. (a) Whenever any bond, undertaking, recognizance or other obligation is by law or the charter, ordinances, rules or regulations of any municipality, board, body, organization or public officer required or permitted to be made, given, tendered or filed with surety or sureties, and whenever the performance of any act, duty or obligation, or the refraining from any act, is required or permitted to be guaranteed, such bond, undertaking, obligation, recognizance or guarantee may be executed by an insurer duly authorized to transact surety insurance in this State under a certificate of authority issued by the Insurance Commissioner of this State. (b) The execution by such insurer of such bond, undertaking, obligation, recognizance or guarantee shall be in all respects a full and complete compliance with every requirement of every law, charter, ordinance, rule or regulation that such bond, undertaking, obligation, recognizance or guarantee shall be executed by 1 surety or by 1 or more sureties, or that such sureties shall be residents or freeholders, either or both, or possess any other qualification, and shall be accordingly accepted and treated. 18 Del. C. 1953, §  7701;  56 Del. Laws, c. 460.;
18 DE Code § 7702. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 77. Suretyship|Subchapter I. Corporate Sureties|§ 7702. Acceptance and approval by public officers.

§ 7702. Acceptance and approval by public officers. (a) Any public officer or department of state, county or municipal government, whose duty it may be to approve the surety upon any bond or bonds, may accept and approve such bonds when executed by the principal therein and by any surety insurer qualified to act as surety or guarantor as provided in § 7701 of this title. The Levy Court and County Councils of the several counties of this State may accept such bonds as security for receivers of taxes and county treasurers in lieu of the security provided for by the laws of this State. (b) Whenever any bond, undertaking, recognizance or guarantee has been duly executed in compliance with the terms of this chapter by the principal or principals therein, and by an insurer, duly authorized under the law of this State to transact the business of executing bonds of suretyship, then any officer, judge or any department of the state, or of any county or municipal government, whose duty it may be to approve of the surety upon the bond, undertaking, recognizance or guarantee may accept and approve such bond, undertaking, recognizance or guarantee. 18 Del. C. 1953, §  7702;  56 Del. Laws, c. 460.;
18 DE Code § 7703. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 77. Suretyship|Subchapter I. Corporate Sureties|§ 7703. Agreement requiring principal to deposit assets; withdrawal.

§ 7703. Agreement requiring principal to deposit assets; withdrawal. Any party of whom a bond or undertaking is required may agree with sureties for the deposit for safe keeping of any and all moneys and other depositable assets for which such sureties are or may be held responsible with a trust company, safe deposit company or bank authorized by law to transact business as such in this State, if such deposit is otherwise proper, in such manner as to prevent the withdrawal of such moneys and assets or any part thereof, except with the written consent of such sureties, or an order of the court, made on such notice to them as such court may direct. 18 Del. C. 1953, §  7703;  56 Del. Laws, c. 460;  70 Del. Laws, c. 186, §  1;
18 DE Code § 7704. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 77. Suretyship|Subchapter I. Corporate Sureties|§ 7704. Release of liability on bond; procedure.

§ 7704. Release of liability on bond; procedure. The surety or representatives of any surety, upon the bond of any trustees, committee, guardian, assignees, receiver, executor or administrator or other fiduciary, may apply by petition to the court wherein the bond is filed or which may have jurisdiction of such trustee, committee, guardian, assignee, receiver, executor or administrator or other fiduciary or to a judge of the court, praying to be relieved from further liability as such surety for the acts or omissions of the trustee, committee, guardian, assignee, receiver, executor or administrator or other fiduciary, which may occur after the date of the order relieving such surety, to be granted as herein provided for; and to require such trustee, committee, guardian, receiver, assignee, executor or administrator or other fiduciary to show cause why he or she should not account, and such surety to be relieved from any such further liability as aforesaid, and such principal be required to give a new bond. Thereupon, upon the filing of such petition, the court or judge thereof shall issue such order, returnable at such time and place and to be served in such manner, as such court or judge may direct, and may restrain such trustee, committee, guardian, assignee, receiver, executor or administrator or other fiduciary from acting except in such manner as it may direct to preserve the trust estate, and, upon the return of such order to show cause, if the principal in the bond account in due form of law and file a new bond duly approved, then such court or judge shall make an order releasing such surety filing the petition from liability upon the bond for any subsequent act or default of the principal; and in default of such principal thus accounting and filing such bond, such court or judge shall make an order directing such trustee, committee, guardian, assignee, receiver, executor or administrator, or other fiduciary to account in due form of law, and, if the trust fund or estate shall be satisfactorily accounted for and delivered or properly secured, such surety shall be discharged from any and all further liability as such for the subsequent acts or omissions of the trustee, guardian, committee, assignee, receiver, executor or administrator or other fiduciary after the day of such surety being so relieved and discharged. 18 Del. C. 1953, §  7704;  56 Del. Laws, c. 460;  70 Del. Laws, c. 186, §  1;
18 DE Code § 7705. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 77. Suretyship|Subchapter I. Corporate Sureties|§ 7705. Estoppel of surety insurer to deny corporate power.

§ 7705. Estoppel of surety insurer to deny corporate power. No insurer having signed any bond, undertaking or obligation as surety, guarantor or indemnitor shall be permitted to deny its corporate power to execute such instrument or incur such liability, in any proceeding to enforce liability against it thereunder. 18 Del. C. 1953, §  7705;  56 Del. Laws, c. 460.;
18 DE Code § 7706. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 77. Suretyship|Subchapter I. Corporate Sureties|§ 7706. Premium on bond of public officer; expense of office.

§ 7706. Premium on bond of public officer; expense of office. The expenses incurred by any public officer for suretyship upon any bond required by law of him or her, as well as the expenses for suretyship upon any bond required of any of his or her assistants or clerks, shall, where the bond or bonds are required for the protection of the State, be paid for by the State, and where the bond or bonds are required for the protection of any of the several counties, be paid for by the Levy Court or County Council of the county, and where the bond or bonds are required for the protection of a municipality, be paid for by the municipality, and shall be charged to and considered a part of the expenses of the office held by the official. The cost of the bond shall not exceed the sum or sums determined by any applicable rate filed by the surety with the Insurance Commissioner. 18 Del. C. 1953, §  7706;  56 Del. Laws, c. 460;  70 Del. Laws, c. 186, §  1;
18 DE Code § 7707. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 77. Suretyship|Subchapter I. Corporate Sureties|§ 7707. Premium on bond of fiduciary; expense of estate.

§ 7707. Premium on bond of fiduciary; expense of estate. Any receiver, guardian, assignee, committee, trustee, executor, administrator or other fiduciary required by law or the order of any court to give a bond, undertaking or other obligation as such, who shall avail himself or herself of corporate suretyship in such bond, undertaking or obligation as authorized by the laws of this State, may present to the proper court or officer before whom he or she is required to account a statement and receipt showing the amount of charges paid for such corporate suretyship; and thereupon the court or other officer, before whom such accounting is rendered, may either order and direct such sum, either in whole or in part, to be a charge upon the estate and charged accordingly; or it may direct that no part thereof shall be a charge upon the estate. No charge for such suretyship shall in any case be allowed in excess of the sum or sums determined by any applicable rate filed by the surety with the Insurance Commissioner. 18 Del. C. 1953, §  7707;  56 Del. Laws, c. 460;  70 Del. Laws, c. 186, §  1;
18 DE Code § 7708. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 77. Suretyship|Subchapter I. Corporate Sureties|§ 7708. Warrant of attorney.

§ 7708. Warrant of attorney. In all instances where corporate suretyship is offered in accordance with this chapter, and where the form of bond required by law contains a warrant of attorney, the bond shall be accepted without such warrant of attorney being written therein. 18 Del. C. 1953, §  7708;  56 Del. Laws, c. 460.;
18 DE Code § 7709. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 77. Suretyship|Subchapter II. Rights of Sureties|§ 7709. Assignment of obligation.

§ 7709. Assignment of obligation. Where any persons are bound in any bond, bill or other writing made payable to any person, his or her executors, administrators, order or assigns, and the money due thereon or any balance thereof, shall be paid or tendered by a surety therein, the obligee shall be obliged to assign such bond, bill or other writing to such surety, and such assignee shall, by virtue of such assignment, have an action in his or her own name thereon against the principal debtor or his or her representative. 18 Del. C. 1953, §  7709;  56 Del. Laws, c. 460;  70 Del. Laws, c. 186, §  1;
18 DE Code § 7710. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 77. Suretyship|Subchapter II. Rights of Sureties|§ 7710. Joint sureties or debtors; assignment.

§ 7710. Joint sureties or debtors; assignment. Where several persons are bound together in any bond, bill or other writing as joint debtors or as joint sureties, in any sum of money made payable to any person, his or her executors, administrators, order or assign and such bond, bill, or other writing shall be paid by any of such joint debtors or joint sureties, the creditor shall assign such bond, bill, or other writing, to the person paying the same; and such assignee shall, in his or her own name, as assignee, or otherwise, have such action or remedy as the creditor himself or herself might have had against the other joint debtors, or sureties, or their representatives, to recover such proportion of the money, so paid, as may be justly due from the defendants. 18 Del. C. 1953, §  7710;  56 Del. Laws, c. 460;  70 Del. Laws, c. 186, §  1;
18 DE Code § 7711. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 77. Suretyship|Subchapter II. Rights of Sureties|§ 7711. Defense of infancy to joint sureties or debtors.

§ 7711. Defense of infancy to joint sureties or debtors. Where several persons are bound together in any bond, bill or other writing or judgment as joint debtors or as joint sureties, in any sum of money, made payable to any person or corporation, the executors, administrators, successors, order or assigns, and 1 or more of such persons was, at the time of making, signing or executing the same, or at the time of the rendition of such judgment, an infant, such fact shall be no defense in any action, proceeding or suit for the enforcement of the liability of those bound thereunder, excepting as regards the person who was an infant at the time of making, signing or executing such bond, bill or other writing, or who was an infant at the time such judgment was rendered. 18 Del. C. 1953, §  7711;  56 Del. Laws, c. 460;  70 Del. Laws, c. 186, §  1;
18 DE Code § 7712. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 77. Suretyship|Subchapter II. Rights of Sureties|§ 7712. Rights of surety or of joint debtor on payment of judgment.

§ 7712. Rights of surety or of joint debtor on payment of judgment. (a) If a judgment recovered against principal and surety shall be paid by the surety, the creditor shall mark such judgment to the use of the surety so paying the same; and the transferee shall, in the name of the plaintiff, have the same remedy by execution or other process against the principal debtor as the creditor could have had, the transfer by marking to the use of the surety being first filed of record in the court where the judgment is. (b) Where there is a judgment against several debtors or sureties and any of them shall pay the whole, the creditor shall mark such judgment to the use of the persons so paying the same; and the transferee shall, in the name of the plaintiff, be entitled to an execution or other process against the other debtors or sureties in the judgment, for a proportionable part of the debt or damages paid by such transferee; but, no defendant shall be debarred of any remedy against the plaintiff or the plaintiff's representatives or assigns by any legal or equitable course of proceeding whatever. 18 Del. C. 1953, §  7712;  56 Del. Laws, c. 460;  70 Del. Laws, c. 186, §  1;