PocketLaw | Delaware Code | Delaware Insurance Company Mutual-to-Stock

Delaware Insurance Company Mutual-to-Stock Conversion Act

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Finding; purpose.

Short title of chapter.

Definitions.

Adoption of plan of conversion.

Redomestication and conversion.

Required provisions of plan of conversion.

Closed block of business for participating life policies.

Optional provisions of plan of conversion.

Alternative plan of conversion.

Effective date of plan.

Rights of members whose policies are issued after adoption of plan and before effective date.

Corporate existence.

Conflict of interest.

Failure to give notice.

Limitation on actions.

Mutual company insolvent or in hazardous financial condition.

Rules and regulations.

Laws applicable to converted stock company.

Commencement of business as a stock insurer.

Amendment of policies.

Prohibition on acquisitions of control.

Applicability to existing mutual insurers.