reglab/statecodes huggingface dataset:
2023 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;
2023 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;
2023 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;
2023 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;
2023 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;
2023 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;
2023 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;
2023 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;
2023 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;
2023 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;
2023 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;
2023 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;
2023 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;
2023 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;
2023 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;
2023 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;
2023 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;
2023 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;
2023 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;
2023 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;
2023 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;
2023 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;
2023 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;
2023 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;
2023 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;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 55. MUTUAL BENEFIT ASSOCIATIONS › § 5509. Guaranty fund.

§ 5509. Guaranty fund.
(a) Each mutual benefit association before receiving a certificate of authority shall deposit with the Commissioner $25,000 in cash and/or securities approved by the Commissioner.
(b) The deposit shall constitute a guaranty fund and shall remain in trust with the Commissioner to answer any default of the association.
(c) While not in default the association may collect the interest, dividends and profits upon the deposited securities and from time to time substitute therefor other securities of equally good character and value, subject to the approval of the Commissioner.
(d) The deposit shall not be withdrawn by the association except as hereinafter provided. The Commissioner may make withdrawals from the fund upon the order of any court of record of this State issued upon a final judgment to pay any claim reduced to final judgment by such court in an action by any member or beneficiary based upon a certificate of membership. In the event of such withdrawal the association shall replace the amount withdrawn within 6 months thereafter.
(e) If the association determines to discontinue its business, it shall make written application to the Commissioner for withdrawal of its guaranty fund. Within 3 months after receipt of the application, the Commissioner shall determine the financial affairs and condition of the association; and if the Commissioner finds that its books and records are in proper order and that it has no liabilities outstanding, the Commissioner shall cancel the association's certificate of authority and deliver to the association or its assigns all moneys and/or securities then held in the deposited guaranty fund to the association's credit.
18 Del. C. 1953, §  5509;  56 Del. Laws, c. 380, §  1;  70 Del. Laws, c. 186, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 55. MUTUAL BENEFIT ASSOCIATIONS › § 5510. Benefit fund.

§ 5510. Benefit fund.
(a) Every association shall deposit in a bank or trust company approved by the Commissioner a sum not less than 50% of all dues collected by the association or by any agent thereof on all certificates of membership. This shall constitute a benefit fund for the sole purpose of payment of claims arising under certificates of membership, for the payments to the guaranty fund maintained with the Commissioner and for the payment of legal expenses incurred in adjusting and defending claims.
(b) If after an examination of the financial affairs of the association the Commissioner determines that 50% of all dues collected is insufficient to properly maintain the benefit fund, the Commissioner may require the association to deposit a larger percentage of its dues to the credit of the benefit fund.
18 Del. C. 1953, §  5510;  56 Del. Laws, c. 380, §  1;  70 Del. Laws, c. 186, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 55. MUTUAL BENEFIT ASSOCIATIONS › § 5511. Investments.

§ 5511. Investments.
An association may invest its funds in such investments as are eligible for investment of the funds of domestic life insurers under Chapter 13 (Investments) of this title.
18 Del. C. 1953, §  5511;  56 Del. Laws, c. 380, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 55. MUTUAL BENEFIT ASSOCIATIONS › § 5512. Annual statement.

§ 5512. Annual statement.
(a) Each association shall annually on or before March 1 file with the Commissioner its financial statement on forms furnished by the Commissioner and subscribed and sworn to by its president and secretary or in their absence by 2 of its principal officers. The statement shall show the association's financial condition and total membership at the close of business on the December 31 next preceding.
(b) The Commissioner shall annually, in December, furnish to each association then holding a certificate of authority, 2 or more blanks in the form adopted for such annual statements.
18 Del. C. 1953, §  5512;  56 Del. Laws, c. 380, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 55. MUTUAL BENEFIT ASSOCIATIONS › § 5513. Examination of association — Timing; responsibility.

§ 5513. Examination of association — Timing; responsibility.
(a) The Commissioner shall examine the affairs of each association as to its financial condition at least once in 3 years. The commissioner shall also make an examination of any such association whenever the commissioner deems it prudent or advisable to do so.
(b) The examination shall be made by the Commissioner personally or by a deputy or other accredited representative of the Commissioner, and all proper charges incurred in making such examination, inclusive of expert assistance, shall be paid by the association examined except that the expenses of such examination shall not exceed $25 per day plus traveling expenses incurred.
18 Del. C. 1953, §  5513;  56 Del. Laws, c. 380, §  1;  70 Del. Laws, c. 186, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 55. MUTUAL BENEFIT ASSOCIATIONS › § 5514. Examination of association — Access to books and records; witnesses.

§ 5514. Examination of association — Access to books and records; witnesses.
For the purpose of the examination under § 5513 of this title, the person making the examination shall have free access to all the books and papers of the association relating to its business and to the books and papers of any of its agents and may summon and qualify as witnesses under oath and examine the directors, officers, agents and employees of the association and any other persons in relation to its affairs, transactions and conditions.
18 Del. C. 1953, §  5514;  56 Del. Laws, c. 380, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 55. MUTUAL BENEFIT ASSOCIATIONS › § 5515. Examination of association — Refusal to permit; revocation of certificate of authority.

§ 5515. Examination of association — Refusal to permit; revocation of certificate of authority.
The refusal of any association to submit to and provide for the examination under § 5513 of this title or to exhibit its books and records for inspection shall be presumptive evidence that it has violated this chapter, and its certificate of authority shall forthwith be revoked by the Commissioner, and it shall be subject to the penalties prescribed and imposed by this chapter.
18 Del. C. 1953, §  5515;  56 Del. Laws, c. 380, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 55. MUTUAL BENEFIT ASSOCIATIONS › § 5516. Domestic associations; situs of business; reports and fees.

§ 5516. Domestic associations; situs of business; reports and fees.
Any mutual benefit association organized under the general corporation law of this State with its principal office situated in this State shall be regarded as doing business in this State regardless of whether or not its membership is acquired from residents of this State, other states, District of Columbia or territories of the United States and shall make the reports required to the Commissioner and pay all of the fees prescribed in this chapter.
18 Del. C. 1953, §  5516;  56 Del. Laws, c. 380, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 55. MUTUAL BENEFIT ASSOCIATIONS › § 5517. Certificate of membership — Approval; terms.

§ 5517. Certificate of membership — Approval; terms.
(a) No certificate of membership providing for sick, accident and/or death benefits to members or their beneficiaries, as hereinafter provided, shall be issued by any association unless the form of the same shall first be filed with and approved by the Commissioner.
(b) A certificate of membership, among other conditions not contrary to the provisions of this chapter, may specify the diseases for which limited benefits may be paid in sickness or death and may also specify the causes of personal injuries, or death therefrom, for which no benefits will be paid.
(c) A certificate of membership may also restrict the payment of any benefit for sickness, accident and/or death that occurs within a specified time after the issuance of such certificate to the refund of all dues paid by the members or their beneficiaries less the expense of carrying the same on the books of the association, and the payment of such refund shall fully liquidate all claims of a member against the association by reason of such certificate of membership.
(d) A certificate of membership may also limit the time which shall elapse before any benefits are payable and may be paid within reasonable limitations approved by the Commissioner.
18 Del. C. 1953, §  5517;  56 Del. Laws, c. 380, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 55. MUTUAL BENEFIT ASSOCIATIONS › § 5518. Certificate of membership — Limitations on benefits.

§ 5518. Certificate of membership — Limitations on benefits.
No certificate of membership issued by any association shall provide for death benefits in excess of $100,000 or sickness or accident disability benefits in excess of $1,000 per week. No association shall issue more than 1 of each of the above types of certificates of membership to any 1 person.
18 Del. C. 1953, §  5518;  56 Del. Laws, c. 380, §  1;  57 Del. Laws, c. 154;  66 Del. Laws, c. 388, §  1;  76 Del. Laws, c. 206, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 55. MUTUAL BENEFIT ASSOCIATIONS › § 5519. Agreement between association and members; binding effect.

§ 5519. Agreement between association and members; binding effect.
The certificate of membership, the certificate of incorporation and any amendments thereto, the bylaws of the association and the provisions of this chapter shall constitute an agreement between the association as a whole or the membership thereof and the members and shall be binding on their respective beneficiaries.
18 Del. C. 1953, §  5519;  56 Del. Laws, c. 380, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 55. MUTUAL BENEFIT ASSOCIATIONS › § 5520. Fees; costs; in lieu of provision.

§ 5520. Fees; costs; in lieu of provision.
(a) Each association shall pay to the Commissioner fees and costs as follows:
(1) For issuance of original certificate of authority $25
(2) For each annual renewal thereof  25
(3) For filing of annual statement  25
(4) For filing, reviewing and approval of the form of certificates of membership, the actual expenses incurred by the Department in connection therewith, as determined by the Commissioner.
(b) The fees and costs hereinabove provided shall be for the use of the State and shall be in lieu of all other taxes, levies, assessments or contributions, except taxes on real property.
18 Del. C. 1953, §  5520;  56 Del. Laws, c. 380, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 55. MUTUAL BENEFIT ASSOCIATIONS › § 5521. Merger; reinsurance; transfers with other associations.

§ 5521. Merger; reinsurance; transfers with other associations.
Every association may merge, insure, reinsure or accept the transfer of membership or funds with any other like association under such reasonable rules and regulations for the protection of members as the Commissioner prescribes.
18 Del. C. 1953, §  5521;  56 Del. Laws, c. 380, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 55. MUTUAL BENEFIT ASSOCIATIONS › § 5522. Dissolution.

§ 5522. Dissolution.
Upon the withdrawal of its guaranty fund deposit as provided in § 5509(e) of this title, the directors or governing body of the association shall forthwith cause the association to be dissolved in accordance with the applicable laws of this State and shall file proper evidence of such dissolution with the Commissioner.
18 Del. C. 1953, §  5522;  56 Del. Laws, c. 380, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 55. MUTUAL BENEFIT ASSOCIATIONS › § 5523. Penalties.

§ 5523. Penalties.
(a) Any corporation, society, order or association which shall organize and/or transact the business of a mutual benefit association in this State contrary to the provisions of this chapter or any mutual benefit association which shall directly or indirectly transact such business in this State without having a valid and unrevoked certificate of authority therefor, agreeable to the provisions of this chapter, shall be fined not more than $1,000. Any officer, manager or agent of such corporation, society, order or association or mutual benefit association wilfully violating or failing to observe or comply with the provisions of this chapter shall be punishable under this section.
(b) Any mutual benefit association or any officer, manager or agent thereof neglecting or refusing to comply with or violating this chapter, the penalty for which neglect, refusal or violation is not otherwise specified, shall be fined not more than $200.
18 Del. C. 1953, §  5523;  56 Del. Laws, c. 380, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 55. MUTUAL BENEFIT ASSOCIATIONS › § 5524. Other provisions applicable.

§ 5524. Other provisions applicable.
The following additional chapters of this title shall also apply as to mutual benefit associations to the extent so applicable and not inconsistent with the express provisions of this chapter and the reasonable implications of such express provisions:
(1) Chapter 1 (General Definitions and Provisions);
(2) Chapter 3 (The Insurance Commissioner);
(3) Chapter 13 (Investments);
(4) Chapter 15 (Administration of Deposits);
(5) Chapter 23 (Unfair Practices in the Insurance Business);
(6) Chapter 59 (Rehabilitation and Liquidation).
18 Del. C. 1953, §  5524;  56 Del. Laws, c. 380, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 56. Travel Insurance › § 5602. Scope and purposes.

§ 5602. Scope and purposes.
(a) The purpose of this chapter is to promote the public welfare by creating a comprehensive legal framework within which travel insurance may be sold in this State.
(b) The requirements of this chapter shall apply to travel insurance that covers any resident of this State, and is sold solicited, negotiated, or offered in this State, and policies and certificates that are delivered or issued for delivery in this State. It shall not apply to cancellation fee waivers or travel assistance services, except as expressly provided herein.
(c) All other applicable provisions of this State's insurance laws shall continue to apply to travel insurance except that the specific provisions of this chapter shall supersede any general provisions of law that would otherwise be applicable to travel insurance.
84 Del. Laws, c. 40, § 6;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 56. Travel Insurance › § 5604. Premium tax.

§ 5604. Premium tax.
(a) A travel insurer shall pay premium tax, as provided in § 702 of this title, on travel insurance premiums paid by any of the following:
(1) An individual primary policyholder who is a resident of this State.
(2) A primary certificate holder who is a resident of this State who elects coverage under a group travel insurance policy.
(3) A blanket travel insurance policyholder that is a resident in, or has its principal place of business or the principal place of business of an affiliate or subsidiary that has purchased blanket travel insurance in this State for eligible blanket group members, subject to any apportionment rules which apply to the insurer across multiple taxing jurisdictions or that permit the insurer to allocate premium on an apportioned basis in a reasonable and equitable manner in those jurisdictions.
(b) A travel insurer shall:
(1) Document the state of residence or principal place of business of the policyholder or certificate- holder.
(2) Report as premium only the amount allocable to travel insurance and not any amounts received for travel assistance services or cancellation fee waivers.
84 Del. Laws, c. 40, § 6;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 56. Travel Insurance › § 5605. Travel protection plans.

§ 5605. Travel protection plans.
Travel protection plans may be offered for 1 price for the combined features that the travel protection plan offers in this State if:
(1) The travel protection plan clearly discloses to the consumer, at or prior to the time of purchase, that it includes travel insurance, travel assistance services, and cancellation fee waivers as applicable, and provides information and an opportunity, at or prior to the time of purchase, for the consumer to obtain additional information regarding the features and pricing of each; and
(2) The fulfillment materials shall:
a. Describe and delineate the travel insurance, travel assistance services, and cancellation fee waivers in the travel protection plan.
b. Include the travel insurance disclosures and the contact information for persons providing travel assistance services, and cancellation fee waivers, as applicable.
84 Del. Laws, c. 40, § 6;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 56. Travel Insurance › § 5607. Travel administrators.

§ 5607. Travel administrators.
(a) Notwithstanding any other provisions of this title, no person shall act or represent itself as a travel administrator for travel insurance in this State unless that person meets at least 1 of the following criteria:
(1) Is a licensed property and casualty insurance producer in this State for activities permitted under that producer license.
(2) Holds a valid managing general agent license in this State.
(3) Holds a valid third-party administrator license in this State.
(b) A travel administrator and its employees are exempt from the adjuster licensing requirements of § 1703 of this title for travel insurance it administers.
(c) An insurer is responsible for the acts of a travel administrator administering travel insurance underwritten by the insurer, and is responsible for ensuring that the travel administrator maintains all books and records relevant to the insurer to be made available by the travel administrator to the Commissioner upon request.
84 Del. Laws, c. 40, § 6;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 56. Travel Insurance › § 5608. Policy.

§ 5608. Policy.
(a) Notwithstanding any other provision of this title, travel insurance shall be classified and filed for purposes of rates and forms under an inland marine line of insurance, provided, however, that travel insurance that provides coverage for sickness, accident, disability or death occurring during travel, either exclusively, or in conjunction with related coverages of emergency evacuation or repatriation of remains, may be filed under either an accident and health line of insurance or an inland marine line of insurance.
(b) Eligibility and underwriting standards for travel insurance may be developed and provided based on travel protection plans designed for individual or identified marketing or distribution channels, provided those standards also meet this State's underwriting standards for inland marine.
84 Del. Laws, c. 40, § 6;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 57. RECIPROCAL INSURERS › § 5701. “Reciprocal” insurance defined.

§ 5701. “Reciprocal” insurance defined.
“Reciprocal” insurance is that resulting from an interchange among persons, known as subscribers, of reciprocal agreements of indemnity, the interchange being effectuated through an attorney-in-fact common to all such persons.
18 Del. C. 1953, §  5701;  56 Del. Laws, c. 380, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 57. RECIPROCAL INSURERS › § 5702. Scope of chapter; existing insurers.

§ 5702. Scope of chapter; existing insurers.
(a) All authorized reciprocal insurers shall be governed by those sections of this chapter not expressly made applicable to domestic reciprocals.
(b) Existing authorized reciprocal insurers shall, after November 1, 1968, comply with this chapter and shall make such amendments to their subscribers' agreement, power of attorney, policies and other documents and accounts and perform such other acts as may be required for such compliance.
18 Del. C. 1953, §  5702;  56 Del. Laws, c. 380, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 57. RECIPROCAL INSURERS › § 5703. Insuring powers of reciprocals.

§ 5703. Insuring powers of reciprocals.
(a) A reciprocal insurer may, upon qualifying therefor as provided for by this title, transact any kind or kinds of insurance defined by this title, other than life or title insurances.
(b) Such an insurer may purchase reinsurance upon the risk of any subscriber and may grant reinsurance as to any kind of insurance it is authorized to transact directly.
18 Del. C. 1953, §  5703;  56 Del. Laws, c. 380, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 57. RECIPROCAL INSURERS › § 5704. Name; suits.

§ 5704. Name; suits.
A reciprocal insurer shall:
(1) Have and use a business name. The name shall include the word “reciprocal” or “interinsurer” or “interinsurance” or “exchange” or “underwriters” or “underwriting” or “association.”
(2) Sue and be sued in its own name.
18 Del. C. 1953, §  5704;  56 Del. Laws, c. 380, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 57. RECIPROCAL INSURERS › § 5705. Attorney; attorney, subscribers and reciprocal insurer a single entity.

§ 5705. Attorney; attorney, subscribers and reciprocal insurer a single entity.
(a) “Attorney,” as used in this chapter, refers to the attorney-in-fact of a reciprocal insurer. The attorney may be an individual, firm or corporation.
(b) The attorney of a foreign reciprocal insurer, which insurer is duly authorized to transact insurance in this State, shall not, by virtue of discharge of its duties as such attorney with respect to the insurer's transactions in this State, be thereby deemed to be doing business in this State within the meaning of any laws of this State applying to foreign persons, firms or corporations.
(c) The subscribers and the attorney-in-fact comprise a reciprocal insurer and a single entity for the purposes of Chapter 7 of this title as to all operations under the insurer's certificate of authority.
18 Del. C. 1953, §  5705;  56 Del. Laws, c. 380, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 57. RECIPROCAL INSURERS › § 5706. Organization of reciprocal insurer.

§ 5706. Organization of reciprocal insurer.
(a) Twenty-five or more persons domiciled in this State may organize a domestic reciprocal insurer and make application to the Commissioner for a certificate of authority to transact insurance.
(b) (1) The proposed attorney shall fulfill the requirements of and shall execute and file with the Commissioner when applying for a certificate of authority, a declaration setting forth:
a. The name of the insurer;
b. The location of the insurer's principal office, which shall be the same as that of the attorney and shall be maintained within this State;
c. The kinds of insurance proposed to be transacted;
d. The names and addresses of the original subscribers;
e. The designation and appointment of the proposed attorney and a copy of the power of attorney;
f. The names and addresses of the officers and directors of the attorney, if a corporation, or of its members, if a firm;
g. The powers of the subscribers' advisory committee and the names and terms of office of the members thereof;
h. That all moneys paid to the reciprocal shall, after deducting therefrom any sum payable to the attorney, be held in the name of the insurer and for the purposes specified in the subscribers' agreement;
i. A statement that each of the original subscribers has in good faith applied for insurance of a kind proposed to be transacted and that the insurer has received from each such subscriber the full premium or premium deposit required for the policy applied for, for a term of not less than 6 months at an adequate rate therefor, filed with and approved by the Commissioner;
j. A statement of the financial condition of the insurer, a schedule of its assets and a statement that the surplus as required by § 511 of this title is on hand; and
k. A copy of each policy, endorsement and application form it then proposes to issue or use.
(2) The declaration shall be acknowledged by the attorney in the manner required for the acknowledgment of deeds.
18 Del. C. 1953, §  5706;  56 Del. Laws, c. 380, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 57. RECIPROCAL INSURERS › § 5707. Certificate of authority.

§ 5707. Certificate of authority.
(a) The certificate of authority of a reciprocal insurer shall be issued to its attorney in the name of the insurer.
(b) The Commissioner may refuse, suspend or revoke the certificate of authority, in addition to other grounds therefor, for failure of the attorney to comply with any applicable provision of this title.
18 Del. C. 1953, §  5707;  56 Del. Laws, c. 380, §  1;
2023 Delaware Code › Title 18 - Insurance Code › Chapter 57. RECIPROCAL INSURERS › § 5708. Power of attorney.

§ 5708. Power of attorney.
(a) The rights and powers of the attorney of a reciprocal insurer shall be as provided in the power of attorney given it by the subscribers.
(b) The power of attorney must set forth:
(1) The powers of the attorney;
(2) The general services to be performed by the attorney;
(3) The maximum amount to be deducted from advance premiums or deposits to be paid to the attorney and the general items of expense in addition to losses to be paid by the insurer; and
(4) Except as to nonassessable policies, a provision for a contingent several liability of each subscriber in a specified amount which amount shall be not less than 1 nor more than 10 times the premium or premium deposit stated in the policy.
(c) The power of attorney may:
(1) Provide for the right of substitution of the attorney and revocation of the power of attorney and rights thereunder;
(2) Impose such restrictions upon the exercise of the power as are agreed upon by the subscribers;
(3) Provide for the exercise of any right reserved to the subscribers directly or through their advisory committee; and
(4) Contain other lawful provisions deemed advisable.
(d) The terms of any power of attorney or agreement collateral thereto shall be reasonable and equitable, and no such power or agreement shall be used or be effective in this State until approved by the Commissioner.
18 Del. C. 1953, §  5708;  56 Del. Laws, c. 380, §  1;