Delaware § 5303 - Insuring powers.
Full text of Delaware Delaware Code § 5303 — Insuring powers., with citation guidance and answers to common questions.
§ 5303. Insuring powers.
(a) Such insurers shall have power to insure only real property and personal property incidental to such real property against the perils of fire, lightning and windstorm, together with perils customarily included under extended coverages.
(b) The maximum amount of insurance which the insurer shall retain on any 1 subject of insurance, after deduction of applicable reinsurance, shall not exceed 10% of its admitted assets or $5,000, whichever is the larger amount. For the purposes of this subsection a “subject of insurance” shall have the meaning ascribed in § 909 (limits of risk) of this title.
18 Del. C. 1953, § 5303; 56 Del. Laws, c. 380, § 1;Frequently Asked Questions About Delaware § 5303
What does Delaware Code § 5303 cover?
Section 5303 ("Insuring powers.") 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 § 5303?
A common citation format is "Delaware Code § 5303" (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 § 5303 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.