Delaware Code Title 18 Sec. 6308 – Suspension or revocation of authority to do business
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The Commissioner may, after hearing, suspend or revoke the right to do business or the certificate of authority for any of the following causes:
(1) If the corporation is no longer qualified therefor under this chapter;
(2) For a violation by the corporation of a provision of this chapter; or
(3) Upon any applicable ground under this chapter or any of the chapters specified in § 6309 of this title for which the certificate of authority of an insurer may be suspended or revoked.
18 Del. C. 1953, § ?6308; 56 Del. Laws, c. 380, § ?1;
Terms Used In Delaware Code Title 18 Sec. 6308
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.