Delaware Code Title 18 Sec. 4983 – Failure to give notice
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If the mutual company complies substantially and in good faith with the notice requirements of this chapter, the mutual company’s failure to send a member the required notice does not impair the validity of any action taken under this chapter.
Terms Used In Delaware Code Title 18 Sec. 4983
- Mutual company: means a mutual insurer that is seeking to convert to a stock insurer under this chapter, including a captive insurance company (notwithstanding § 6916 of this title) that is incorporated as a nonstock corporation and including a foreign mutual insurer that has applied to redomesticate to this State with an intent to file an application to convert from mutual to stock form under this chapter. See Delaware Code Title 18 Sec. 4972