Delaware § 502 - “Mutual” insurer defined.
Full text of Delaware Delaware Code § 502 — “Mutual” insurer defined., with citation guidance and answers to common questions.
§ 502. “Mutual” insurer defined.
A “mutual” insurer is an incorporated insurer without capital stock and the governing body of which is elected by its policyholders. This definition shall not be deemed to exclude as “mutual” insurers certain foreign insurers found by the Commissioner to be organized on the mutual plan under the laws of their states of domicile but having temporary share capital or providing for election of the insurer’s governing body on a reasonable basis.
18 Del. C. 1953, § 502; 56 Del. Laws, c. 380, § 1;Frequently Asked Questions About Delaware § 502
What does Delaware Code § 502 cover?
Section 502 ("“Mutual” insurer defined.") 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 § 502?
A common citation format is "Delaware Code § 502" (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 § 502 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.