§ 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).

Legislative History

18 Del. C. 1953, § 5306; 56 Del. Laws, c. 380, § 1