Delaware Code Title 18 Sec. 6229 – Foreign or alien society — Admission
No foreign or alien society shall transact business in this State without a license issued by the Commissioner. Any such society desiring admission to this State shall comply substantially with the requirements and limitations of this chapter applicable to domestic societies. Any such society may be licensed to transact business in this State upon filing with the Commissioner:
(1) A duly certified copy of its chapters of incorporation;
(2) A copy of its bylaws, certified by its secretary or corresponding officer;
(3) A power of attorney to the Commissioner as prescribed in § 6235 of this title;
(4) A statement of its business under oath of its president and secretary or corresponding officers in a form prescribed by the Commissioner, duly verified by an examination made by the supervising insurance official of its home state or other state, territory, province or country, satisfactory to the Commissioner;
(5) Certification from the proper official of its home state, territory, province or country that the society is legally incorporated and licensed to transact business therein;
(6) Copies of its certificate forms; and
(7) Such other information as the Commissioner may deem necessary;
Terms Used In Delaware Code Title 18 Sec. 6229
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Certificate: shall mean the document issued as written evidence of the benefit contract. See Delaware Code Title 18 Sec. 6204
- Commissioner: shall mean the Commissioner of Insurance of this State. See Delaware Code Title 18 Sec. 6204
- Laws: shall mean the society's certificate of incorporation, constitution and bylaws, however designated. See Delaware Code Title 18 Sec. 6204
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- 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
upon a showing that its assets are invested in accordance with the provisions of this chapter.