Del. Code tit. 18 § 4938

Current through 2024 Legislative Session Act Chapter 531

Section 4938 - Same - Impaired mutuals

If a domestic mutual insurer is then impaired, that is, if the insurer's surplus is less than the amount thereof required under this title for authority to transact the kinds of insurance being transacted by the insurer, the Commissioner may approve the agreement of merger or consolidation without a hearing thereon, and the same may be effectuated without approval of the insurer's members.

18 Del. C. § 4938

18 Del. C. 1953, § 4938; 56 Del. Laws, c. 380, § 1.;