A “mutual” insurer is an incorporated insurer without capital stock and the governing body of which is elected by its policyholders. This definition shall not be deemed to exclude as “mutual” insurers certain foreign insurers found by the Commissioner to be organized on the mutual plan under the laws of their states of domicile but having temporary share capital or providing for election of the insurer's governing body on a reasonable basis.
Structure Delaware Code
Chapter 5. AUTHORIZATION OF INSURERS AND GENERAL REQUIREMENTS
§ 501. “Stock insurer” defined.
§ 502. “Mutual” insurer defined.
§ 503. “Reciprocal” insurer defined.
§ 505. Certificate of authority required.
§ 506. Exceptions to certificate of authority requirement.
§ 507. General eligibility for certificate of authority.
§ 510. Combinations of insuring powers.
§ 511. Capital funds required.
§ 512. Insuring combinations without additional capital funds.
§ 513. Deposit requirements — In general.
§ 514. Deposit requirements — Alien insurers.
§ 515. Application for certificate of authority.
§ 516. Issuance, refusal of authority; ownership of certificate.
§ 517. Authority conferred; surety insurers; certificate as evidence.
§ 518. Continuance, expiration, reinstatement of certificate of authority.
§ 519. Suspension or revocation of certificate of authority — Mandatory grounds.
§ 520. Suspension or revocation of certificate of authority — Discretionary and special grounds.
§ 521. Order and notice of suspension, revocation; effect upon agents' authority.
§ 522. Duration of suspension; insurer's obligations during suspension period; reinstatement.
§ 523. General corporation laws inapplicable to foreign insurers.
§ 524. Commissioner as process agent for certain insurers.
§ 526. Annual statement and other required filings.
§ 529. Cancellation of insurance agency contracts; arbitration.
§ 530. Emergency requirements.
§ 531. Emergency powers to regulate liability insurance cancellations and nonrenewals.
§ 533. Immunity from liability for reporting fraudulent practices.
§ 534. Location of headquarters.
§ 535. Nondisclosure of nonpublic personal information; adoption of regulations.