Delaware § 5508 Certificate of authority — Revocation

Delaware Statutes

§ 5508 — Certificate of authority — Revocation

Delaware § 5508

Title18

PartInsurance

Ch. 55MUTUAL BENEFIT ASSOCIATIONS

This text of Delaware § 5508 (Certificate of authority — Revocation) 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, § 5508 (2026).

Text

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.

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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.