Del. Code tit. 18 § 5724

Current through 2024 Legislative Session Act Chapter 510

Section 5724 - Subscribers' share in assets

Upon the liquidation of a domestic reciprocal insurer, its assets remaining after discharge of its indebtedness and policy obligations, the return of any contributions of the attorney or other persons to its surplus and the return of any unused premium, savings or credits then standing on subscribers' accounts shall be distributed to its subscribers who were such within the 12 months prior to the last termination of its certificate of authority, according to such reasonable formula as the Commissioner may approve.

18 Del. C. § 5724

18 Del. C. 1953, § 5724; 56 Del. Laws, c. 380, § 1.;