Title 18, Insurance Code

§ 4355. Enforcement after license lapses or is surrendered. The Commissioner shall retain authority to enforce the provisions of, and impose any penalty or remedy authorized by, this subchapter and title against any person who is under investigation for, or charged with, a violat…

§ 4356. Conservation of bail agent business. (a) If the Commissioner finds that the business of any licensed bail agent in this State has become financially impaired or insolvent, or has been abandoned by the licensee, or has been conducted in such a manner as to require or justi…

§ 4401. Short title. This chapter shall be known and may be cited as the “Delaware Life and Health Insurance Guaranty Association Act.”63 Del. Laws, c. 442, § 1;

§ 4402. Purpose. The purpose of this chapter is to protect, subject to certain limitations, the persons specified in § 4403(a) of this title against failure in the performance of contractual obligations, under life, health, and annuity policies, plans, or contracts specified in §…

§ 4403. Coverage and limitations. (a) This chapter shall provide coverage for the policies and contracts specified in subsection (b) of this section: (1) To persons who, regardless of where they reside (except for nonresident certificate holders under group policies or contracts)…

§ 4404. Construction. This chapter shall be liberally construed to effect the purpose under § 4402 of this title which shall constitute and aid and guide to interpretation.63 Del. Laws, c. 442, § 1;

§ 4405. Definitions. As used in this chapter: (1) “Account” means either of the 2 accounts created under § 4406 of this title. (2) “Association” means the Delaware Life and Health Insurance Guaranty Association created under § 4406 of this title. (3) “Authorized assessment” or “a…

§ 4406. Delaware Life and Health Insurance Guaranty Association — Created; accounts; supervision. (a) There is created a nonprofit legal entity to be known as the Delaware Life and Health Insurance Guaranty Association. All member insurers shall be and remain members of the Assoc…

§ 4407. Delaware Life and Health Insurance Guaranty Association — Board of Directors. (a) The Board of Directors of the Association shall consist of not less than 5 nor more than 9 member insurers serving terms as established in the plan of operation. The members of the Board sha…

§ 4408. Powers and duties of the Association. (a) If a member insurer is an impaired insurer, the Association may, in its discretion, and subject to any conditions imposed by the Association that do not impair the contractual obligations of the impaired insurer and that are appro…

§ 4409. Assessments. (a) For the purpose of providing the funds necessary to carry out the powers and duties of the Association, the Board of Directors shall assess the member insurers, separately for each account, at such time and for such amounts as the Board finds necessary. A…

§ 4410. Plan of operation. (a) (1) The Association shall submit to the Commissioner a plan of operation and any amendments thereto necessary or suitable to assure the fair, reasonable and equitable administration of the Association. The plan of operation and any amendments theret…

§ 4411. Duties and powers of Commissioner. In addition to the duties and powers enumerated elsewhere in this chapter: (1) The Commissioner shall: a. Upon request of the Board of Directors, provide the Association with a statement of the premiums in the appropriate states for each…

§ 4412. Detection and prevention of insolvencies. To aid in the detection and prevention of member insurer insolvencies or impairments: (1) It shall be the duty of the Commissioner: a. 1. To notify the commissioners of all the other states when the Commissioner takes any of the f…

§ 4413. Credits for assessments paid. (a) A member insurer may offset against its premium tax liability to this State an assessment described in § 4409(h) of this title to the extent of 20 percent of the amount of such assessment for each of the 5 calendar years following the yea…

§ 4414. Liability for unpaid assessments; Association records; Association as creditor; liquidation proceeding. (a) Nothing in this chapter shall be construed to reduce the liability for unpaid assessments of the insureds on an impaired or insolvent insurer operating under a plan…

§ 4415. Annual reports by Board. The Association shall be subject to examination and regulation by the Commissioner. The Board of Directors shall submit to the Commissioner, not later than May 1 of each year, a financial report for the preceding calendar year in a form approved b…

§ 4416. Tax status of Association. The Association shall be exempt from payment of all fees and all taxes levied by this State or any of its subdivisions, except taxes levied on real property.63 Del. Laws, c. 442, § 1;

§ 4417. Immunity. There shall be no liability on the part of and no cause of action of any nature shall arise against any member insurer or its agents or employees, the Association or its agents or employees, members of the Board of Directors or the Commissioner or the Commission…

§ 4418. Stay of proceedings; reopening default judgments. All proceedings in which the insolvent insurer is a party in any court in this State shall be stayed 180 days from the date an order of liquidation, rehabilitation or conservation is final to permit proper legal action by …

§ 4419. Advertising. No person, including a member insurer, agent or affiliate of a member insurer shall make, publish, disseminate, circulate, or place before the public, or cause, directly or indirectly, to be made, published, disseminated, circulated, or placed before the publ…

§ 4420. Access to assets of insurer in liquidation; application for court approval of plan to disburse assets. Repealed by 68 Del. Laws, c. 55, § 7, effective June 25, 1991.

§ 4501. Title. This chapter may be cited as the “Certificates of Insurance Act.”79 Del. Laws, c. 217, § 1;

§ 4502. Definitions. For the purpose of this chapter, the following definitions apply: (1) “Certificate of insurance” means a document or instrument, regardless of how titled or described, that is prepared or issued by an insurer or insurance producer as evidence of property or c…

§ 4503. Certificate forms. (a) The Commissioner shall prohibit the use of a certificate of insurance form if the form: (1) Is unfair, misleading, or deceptive, or violates public policy; or (2) Violates any law, including any regulation promulgated by the Commissioner of Insuranc…

§ 4504. Limitations on use. (a) A person shall not: (1) Prepare, issue, or request or require the issuance of a certificate of insurance that contains any false or misleading information concerning the policy of insurance to which the certificate of insurance makes reference; or …

§ 4505. Notice requirements. A person is entitled to notice of cancellation, nonrenewal, or any material change, and to any similar notice concerning a policy of insurance only if the person has such notice rights under the terms of the policy of insurance or any endorsement to t…

§ 4506. Applicability. (a) The provisions of this chapter shall apply to all certificates of insurance issued in connection with property, operations, or risks located in this State, regardless of where the policyholder, insurer, insurance producer, or person requesting or requir…

§ 4507. Enforcement and penalties. (a) The Commissioner shall have the power to examine and investigate the activities of any person that the Commissioner reasonably believes has been or is engaged in an act or practice prohibited by this chapter. (b) The Commissioner shall have …

§ 4601. Definitions. The following words and phrases when used in this chapter shall have the meanings given to them in this section unless the context clearly indicates otherwise: (1) “Continuing care.” — The furnishing to an individual, other than an individual related by consa…

§ 4602. Registration. No provider shall engage in the business of providing continuing care in this State until it shall have: (1) Filed a registration statement on a form to be prescribed by the Secretary; (2) Filed with the Secretary the disclosure statement provided for in § 4…

§ 4603. Disclosure statement. (a) Prior to the execution of a contract to provide continuing care or prior to the transfer of any money or other property (other than an application fee not to exceed $1,500) to a provider by or on behalf of a prospective resident, whichever shall …

§ 4604. False information. (a) No provider shall make, publish, disseminate, circulate or place before the public, or cause, directly or indirectly, to be made, published, disseminated, circulated or placed before the public, in a newspaper or other publication, or in the form of…

§ 4605. Civil liability. (a) Any person who, as a provider or manager, or on behalf of the provider or manager has not filed the registration statement and disclosure statement with the Secretary and paid the fee required by § 4602 of this title: (1) Enters into a contract for co…

§ 4701. Scope of chapter. This chapter applies as to domestic and foreign insurers of all types, and as to persons providing finances to such insurers.18 Del. C. 1953, § 4701; 56 Del. Laws, c. 380, § 1;

§ 4702. Solicitation permit required; penalty. (a) No person forming or proposing to form an insurer, or insurance holding corporation or corporation to be attorney-in-fact for a reciprocal insurer or proposing to secure funds for the formation or financing of an insurer, or prod…

§ 4703. Insurance holding corporation defined. Within the intent of this chapter an insurance holding corporation is one owning or proposing to own a controlling stock interest in a stock insurer. Shares owned directly or indirectly by the corporation or by its subsidiary or affi…

§ 4704. Exemptions. Section 4702 of this title shall not apply to: (1) Sales of securities not involving a public offering, that is, sales on which no commission is payable resulting from offers privately made to not over 20 persons (other than banks, savings associations, invest…

§ 4705. Application for permit. (a) Written application for any permit required under § 4702 of this title shall be filed with the Commissioner. The application shall show or be accompanied by: (1) The name, type and purpose of the insurer, corporation, syndicate, association, fi…

§ 4706. Application for permit required by § 4702 of this title. Written application for any permit required under § 4702 of this title, in connection with the formation of a domestic mutual insurer by the securing of qualifying applications for insurance as provided in § 4905 of…

§ 4707. Investigation. (a) Upon completion of the application for a permit under §§ 4705 and 4706 of this title, the Commissioner shall promptly cause an investigation to be made of: (1) The identity, character, reputation, financial standing and motives of the persons proposing …

§ 4708. Grant, denial of permit. (a) The Commissioner shall expeditiously examine an application for a solicitation permit as soon as it is completed and complete the investigation as called for. Subject to subsection (b) of this section below, if the Commissioner finds on such e…

§ 4709. Terms of permit; compliance. (a) Upon filing any bond required by § 4713 or deposit required by § 4906 of this title or upon decision to grant the permit if such a bond is not so required and upon filing an executed copy of any required escrow agreement, the Commissioner …

§ 4710. Permit as inducement. The granting of a solicitation permit is permissive only and shall not constitute an endorsement by the Commissioner of any person or thing related to any such insurer, corporation, syndicate, association, firm, organization or financing nor constitu…

§ 4711. Prospectus required; other literature. (a) An offering of securities under a solicitation permit shall be made only by a written prospectus delivered to the prospective investor. (b) The prospectus shall make a disclosure of all facts relative to the issuer and the offere…

§ 4712. Modification or revocation of permit. The Commissioner may, for cause, modify a solicitation permit theretofore issued, or may, after a hearing thereon, revoke the permit for violation of law or of the terms of the permit or any proper order of the Commissioner or for mat…