Delaware § 5105 Unlawful sale of securities

Delaware Statutes

§ 5105 — Unlawful sale of securities

Delaware § 5105

Title18

PartInsurance

Ch. 51INSIDER TRADING IN DOMESTIC INSURER SECURITIES

This text of Delaware § 5105 (Unlawful sale of securities) 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, § 5105 (2026).

Text

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.

Free access — add to your briefcase to read the full text and ask questions with AI

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.