Delaware Code Title 18 Sec. 6231 – Suspension, revocation or refusal of license of foreign or alien …
(a) When the Commissioner, upon investigation, finds that a foreign or alien society transacting or applying to transact business in this State:
(1) Has exceeded its powers;
(2) Has failed to comply with any of the provisions of this chapter;
(3) Is not fulfilling its contracts in good faith; or
(4) Is conducting its business fraudulently or in a manner hazardous to its members or creditors or the public, the Commissioner shall notify the society of such deficiency or deficiencies and state in writing the reasons for his or her dissatisfaction. The Commissioner shall at once issue a written notice to the society requiring that the deficiency or deficiencies which exist are corrected. After such notice, the society shall have a 30-day period in which to comply with the Commissioner’s request for correction and if the society fails to comply, the Commissioner shall notify the society of such findings of noncompliance and require the society to show cause, on a date named, why its license should not be suspended, revoked or refused. If on such date, the society does not present good and sufficient reason why its authority to do business in this State should not be suspended, revoked or refused, the Commissioner may suspend or refuse the license of the society to do business in this State until satisfactory evidence is furnished to the Commissioner that such suspension or refusal should be withdrawn or the Commissioner may revoke the authority of the society to do business in this State.
Terms Used In Delaware Code Title 18 Sec. 6231
- Commissioner: shall mean the Commissioner of Insurance of this State. See Delaware Code Title 18 Sec. 6204
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Laws: shall mean the society's certificate of incorporation, constitution and bylaws, however designated. See Delaware Code Title 18 Sec. 6204
- Society: shall mean fraternal benefit society, unless otherwise indicated. See Delaware Code Title 18 Sec. 6204
- State: means the State of Delaware; and when applied to different parts of the United States, it includes the District of Columbia and the several territories and possessions of the United States. See Delaware Code Title 1 Sec. 302
(b) Nothing contained in this section shall be taken or construed as preventing any such society from continuing in good faith all contracts made in this State during the time such society was legally authorized to transact business herein.