Delaware § 4935 Merger, consolidation of mutual insurers — Approval of merger; consolidation agreement by boards of directors

Delaware Statutes

§ 4935 — Merger, consolidation of mutual insurers — Approval of merger; consolidation agreement by boards of directors

Delaware § 4935

Title18

PartInsurance

Ch. 49ORGANIZATION AND CORPORATE POWERS; PROCEDURES OF DOMESTIC STOCK AND MUTUAL INSURERS

This text of Delaware § 4935 (Merger, consolidation of mutual insurers — Approval of merger; consolidation agreement by boards of directors) is published on Counsel Stack Legal Research, covering Delaware primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Del. Code tit. 18, § 4935 (2026).

Text

(a)The board of directors of each of the mutual insurers proposing to merge or consolidate shall, by resolution adopted by at least a majority of all the members of each board, approve a joint agreement of merger or consolidation, as the case may be, between the insurer parties, setting forth the terms and conditions of the merger or consolidation, the mode of carrying the same into effect and such other provisions as are deemed advisable.

(b)Upon approving such agreement, each such board shall by resolution direct that the same be submitted to the Commissioner and be subject to the Commissioner’s disapproval as provided in § 4936 of this title and to approval of the members of the respective insurers as provided in § 4937 of this title.

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(a) The board of directors of each of the mutual insurers proposing to merge or consolidate shall, by resolution adopted by at least a majority of all the members of each board, approve a joint agreement of merger or consolidation, as the case may be, between the insurer parties, setting forth the terms and conditions of the merger or consolidation, the mode of carrying the same into effect and such other provisions as are deemed advisable.

(b) Upon approving such agreement, each such board shall by resolution direct that the same be submitted to the Commissioner and be subject to the Commissioner’s disapproval as provided in § 4936 of this title and to approval of the members of the respective insurers as provided in § 4937 of this title.