18 Del. Admin. Code § 402-6.0

Current through Register Vol. 28, No. 5, November 1, 2024

Section 402-6.0 - Regulation Under 18 Del.C. 565

6.1 Section 565-1 Arbitrage Transactions Under 18 Del.C. § 565.

6.1.1 It shall be unlawful for any director or officer of an insurer to effect any foreign or domestic arbitrage transaction in any equity security of such insurer, unless he shall include such transaction in the statements required by 18 Del.C. § 561 and shall account to such insurer for the profits arising from such transaction, as provided in 18 Del.C. § 562 thereof. The provisions of 18 Del.C. § 563 shall not apply to such arbitrage transactions. The provisions of Subchapter IV shall not apply to any bona fide foreign or domestic arbitrage transaction insofar as it is effected by any person other than such director or officer of the insurer.