Delaware Code
Chapter 13. INVESTMENTS
§ 1328. Prohibited investments and investment underwriting.

(a) In addition to investments excluded pursuant to other provisions of this title, an insurer shall not invest in or lend its funds upon the security of:

(1) Issued shares of its own capital stock, except:

a. For the purpose of mutualization under § 4928 of this title; and
b. Where the insurer has first submitted a plan for such investment or loan to the commissioner and the Commissioner has not, within 20 days after such submission or within such additional reasonable period as the Commissioner may request, disapproved such plan as unfair or inequitable to the insurer's policyholders or stockholders;
(2) Securities issued by any corporation or enterprise the controlling interest of which is, or will after such acquisition by the insurer be, held directly or indirectly by the insurer or any combination of the insurer and the insurer's directors, officers, subsidiaries or controlling stockholders (other than a parent corporation), and the spouses and children of any of the foregoing individuals. Investments in controlled insurance corporations or subsidiaries under §§ 1312(b) and 1313 of this title are not subject to this provision;
(3) Any note or other evidence of indebtedness of any director, officer, employee or controlling stockholder of the insurer or of the spouse, or child of any of the foregoing individuals, except as to policy loans authorized under § 1317 of this title.
(b) No insurer shall underwrite or participate in the underwriting of an offering of securities or property of any other person.
(c) No insurer shall enter into any agreement to withhold from sale any of its securities or property, and the disposition of its assets shall at all times be within the control of the insurer.

Structure Delaware Code

Delaware Code

Title 18 - Insurance Code

Chapter 13. INVESTMENTS

§ 1301. Scope of chapter.

§ 1302. Eligible investments.

§ 1303. General qualifications.

§ 1304. Authorization; record of investments.

§ 1305. Diversification.

§ 1306. Public obligations.

§ 1307. Obligations and stock of certain federal and international agencies.

§ 1308. Corporate obligations.

§ 1309. Corporate obligations; terms defined.

§ 1310. Preferred or guaranteed stocks.

§ 1311. Common stocks; limited partnerships.

§ 1312. Insurance stocks.

§ 1313. Stock of subsidiaries.

§ 1314. Common trust funds; mutual funds.

§ 1315. Bankers' acceptances; bills of exchange.

§ 1316. Equipment trust certificates.

§ 1317. Policy loans.

§ 1318. Collateral loans.

§ 1319. Savings and share accounts.

§ 1320. Miscellaneous investments.

§ 1321. Investments in foreign countries.

§ 1322. Special investments of title insurers.

§ 1323. Real estate mortgages.

§ 1324. Real estate.

§ 1325. Time limit for disposal of real estate.

§ 1326. Time limit for disposal of other ineligible property and securities.

§ 1327. Failure to dispose of real estate or securities; effect; penalty.

§ 1328. Prohibited investments and investment underwriting.

§ 1329. Investments of foreign insurers.

§ 1330. Personal property.

§ 1331. Secured obligations.

§ 1332. Production payments.

§ 1333. Rules and regulations [For application of this section, see 79 Del. Laws, c. 207, § 3].

§ 1334. Additional investments.