Delaware § 4908 - Mutual insurers — Trust deposit of qualifying premiums; issuance of policies.
Full text of Delaware Delaware Code § 4908 — Mutual insurers — Trust deposit of qualifying premiums; issuance of policies., with citation guidance and answers to common questions.
§ 4908. Mutual insurers — Trust deposit of qualifying premiums; issuance of policies.
(a) All sums collected by a domestic mutual corporation as premiums or fees on qualifying applications for insurance therein shall be deposited in trust in a bank or trust company in this State under a written trust agreement approved by the Commissioner and consistent with this section and with § 4907 of this title. The corporation shall file an executed copy of such trust agreement with the Commissioner.
(b) Upon issuance to the corporation of a certificate of authority as an insurer for the kind of insurance for which such applications were solicited, all funds so held in trust shall become the funds of the insurer, and the insurer shall thereafter in due course issue and deliver its policies for which premiums had been paid and accepted. The insurance provided by such policies shall be effective as of the date of the certificate of authority or thereafter as provided by the respective policies.
18 Del. C. 1953, § 4908; 56 Del. Laws, c. 380, § 1;Source: official Delaware text · Last verified 2026-08-27
Frequently Asked Questions About Delaware § 4908
What does Delaware Code § 4908 cover?
Section 4908 ("Mutual insurers — Trust deposit of qualifying premiums; issuance of policies.") 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 § 4908?
A common citation format is "Delaware Code § 4908" (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 § 4908 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.