Delaware § 4924 - Dividends to policyholders.
Full text of Delaware Delaware Code § 4924 — Dividends to policyholders., with citation guidance and answers to common questions.
§ 4924. Dividends to policyholders.
(a) The directors of a domestic mutual insurer may from time to time apportion and pay or credit to its members dividends only out of that part of its surplus funds which represents net realized savings, net realized earnings, and net realized capital gains, all in excess of the surplus required by law to be maintained by the insurer.
(b) A dividend otherwise proper may be payable out of such savings, earnings and gains even though the insurer’s total surplus is then less than the aggregate of contributed surplus remaining unpaid by the insurer.
(c) A domestic stock insurer may pay dividends to holders of its participating policies out of any available surplus funds.
(d) No dividend shall be paid which is inequitable or which unfairly discriminates as between classifications of policies or policies within the same classifications.
18 Del. C. 1953, § 4924; 56 Del. Laws, c. 380, § 1;Frequently Asked Questions About Delaware § 4924
What does Delaware Code § 4924 cover?
Section 4924 ("Dividends to policyholders.") 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 § 4924?
A common citation format is "Delaware Code § 4924" (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 § 4924 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.