Delaware § 5301 Scope of chapter; definition

Delaware Statutes

§ 5301 — Scope of chapter; definition

Delaware § 5301

Title18

PartInsurance

Ch. 53MUTUAL ASSESSMENT PROPERTY INSURERS

This text of Delaware § 5301 (Scope of chapter; definition) 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, § 5301 (2026).

Text

(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.

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

(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.