Delaware § 1503 - Securities eligible for deposit.
Full text of Delaware Delaware Code § 1503 — Securities eligible for deposit., with citation guidance and answers to common questions.
§ 1503. Securities eligible for deposit.
(a) All such deposits required under § 513 of this title for authority to transact insurance in this State shall consist of good interest-bearing or dividend-paying securities of kinds eligible for investment of the funds of domestic insurers under Chapter 13 of this title.
(b) All other deposits of a domestic insurer held in this State pursuant to the laws of another state, province or country shall be comprised of securities of the kinds described in subsection (a) of this section above, and of such additional kind or kinds of securities required or permitted by the laws of such state, province or country.
(c) Deposits of foreign insurers made in this State under the retaliatory law, § 532 of this title, shall consist of such assets as are required by the Commissioner pursuant to such law.
(d) All securities placed on deposit on and after July 1, 1973, shall be of such a nature that the interest or dividends are payable without the necessity of access to the depository.
18 Del. C. 1953, § 1503; 56 Del. Laws, c. 380, § 1; 59 Del. Laws, c. 79, § 35;Frequently Asked Questions About Delaware § 1503
What does Delaware Code § 1503 cover?
Section 1503 ("Securities eligible for deposit.") is part of the Delaware Code, the codified statutory law of Delaware. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Delaware § 1503?
A common citation format is "Delaware Code § 1503" (Delaware). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Delaware law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Delaware official source linked on this page or consult a licensed Delaware attorney.
How does Delaware § 1503 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Delaware can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Delaware.