(a) Whenever the Commissioner has reasonable cause to believe, and determines, after a hearing, held as prescribed in subsection
(c) of this section, that any insurer has committed or engaged in any act, practice or transaction that would subject it to
formal delinquency proceedings under this chapter, the Commissioner may make and serve upon the insurer and any other persons
involved such orders, including an order suspending the business of an insurer, as are reasonably necessary to correct, eliminate
or remedy such conduct, condition or ground.
(b) If the conditions of subsection (a) of this section, other than notice and hearing, are satisfied and if the Commissioner
has reasonable grounds to believe that irreparable harm to the property or business of the insurer or to the interests of
its policy or certificate holders, creditors or the public may occur unless the Commissioner issues with immediate effect
the orders described in subsection (a) of this section, the Commissioner may make and serve such orders without notice and
before hearing, simultaneously serving upon the insurer notice of hearing under subsection (c) of this section.
(c) The notice of hearing under subsection (a) or (b) of this section and the summary order issued under subsection (a) or
(b) of this section shall be served pursuant to the applicable rules of civil or administrative procedure. The notice of hearing
under subsection (a) of this section shall state the time and place of hearing and the conduct, condition or ground upon which
the Commissioner would base the order; the notice of hearing under subsection (b) of this section shall state the time and
place of hearing. Unless mutually agreed between the Commissioner and the insurer, the hearing shall occur not more than 15
days after notice is served. The Commissioner shall not publicize such hearings and shall hold all hearings in summary proceedings
privately unless the insurer requests a public hearing, in which case the hearing shall be public.
(d) Any suspension order made by the Commissioner under subsection (a) of this section shall prohibit issuance of policies,
transfers of property and payments of moneys without prior written approval of the Commissioner. Notice of such suspension
shall be given, by first class mail within 15 days thereof, by the suspended organization to those who were creditors, policyholders,
members and certificate holders at the date of suspension. Notice of such suspension shall be given, within 15 days thereof,
by the Commissioner to creditors, policyholders, members and certificate holders by advertising the same by 1 publication
in a newspaper of general circulation in the county where the suspended organization has its principal office. From the date
of such suspension on the ground that the insurer is insolvent or is in such condition that its further transaction of business
will be hazardous financially to its policyholders, creditors or the public, no action at law or equity shall be commenced
or prosecuted, nor shall any judgment be entered against nor shall any execution or attachment be issued or prosecuted against
the suspended insurer, or against its property, in any court in the State; provided, that if such suspension order is vacated
by the Chancery Court for the reason that the suspended insurer is no longer insolvent or in such condition that its further
transaction of business will be hazardous to its policyholders or to its creditors or to the public, these restraints upon
legal process regarding the insurer shall thereafter cease to be operative.
(e) If the Commissioner issues a summary order before a hearing under this section, the insurer may at any time waive the
Commissioner's hearing and apply for immediate judicial relief by means of any remedy afforded by law without first exhausting
administrative remedies.
(f) If any person has violated any order issued under this section which as to him was then still in effect, he shall be liable
to pay a civil penalty imposed by the Chancery Court not to exceed $10,000.
(g) The Commissioner may apply to the Chancery Court for such restraining orders, preliminary and permanent injunctions and
other orders as may be deemed necessary and proper to enforce a summary order.
64 Del. Laws, c. 420, § 2; 70 Del. Laws, c. 186, § 1.;
§ 5942. Commissioner's supervision.
(a) If upon examination or at any other time the Commissioner has reasonable cause to believe, and determines, that an insurer
has committed, engaged in or is about to engage in any act, practice or transaction that would subject it to formal delinquency
proceedings under this chapter, or if such insurance company gives its consent, then the Commissioner shall upon determination
notify the insurer of the determination and furnish to the insurer an order or orders containing a written list of the Commissioner's
requirements to abate his determination. If the Commissioner, after a hearing held as provided in § 5941(c) of this title,
makes a further determination to supervise, the Commissioner shall issue an order to the insurer notifying it that it is under
the supervision of the Commissioner and that the Commissioner is applying and effecting this section. The Commissioner may
issue an order under this section without a hearing under the conditions provided under § 5941(b) of this title, and shall
simultaneously serve upon the insurer notice of a hearing to be held in accordance with § 5941(c) of this title, and, in such
event, the insurer may file an appeal in accordance with § 5941(e) of this title. Such insurer shall comply with the lawful
requirements of the Commissioner and, if placed under an order of supervision, shall have 90 days from the date of service
of such order within which to comply with the requirements of the Commissioner. In the event of such insurer's failure to
comply within such time, the Commissioner may institute proceedings in the Chancery Court to have a rehabilitator or liquidator
appointed under this chapter or issue an order extending an existing order of supervision. Such order extending any existing
order shall be issued prior to the end of each 90-day period, unless otherwise agreed to by the insurer.
(b) The Commissioner may appoint a supervisor to supervise such insurer and may provide that the insurer may not do any of
the following acts, during the period of supervision, without the prior written approval of the Commissioner or the supervisor:
(1) Dispose of, convey or encumber any of its assets or its business in force;
(2) Withdraw any of its bank accounts;
(3) Lend any of its funds;
(4) Invest any of its funds;
(5) Transfer any of its property;
(6) Incur any debt, obligation or liability;
(7) Merge or consolidate with another company; or
(8) Enter into any new reinsurance contract or treaty.
(c) In the event that any person, subject to this chapter, shall violate any valid order of the Commissioner issued under
this section and, as a result, the net worth of the insurer shall be reduced or the insurer shall otherwise suffer loss, said
person shall become personally liable to the insurer for the amount of any such reduction or loss. The Commissioner or supervisor
is authorized to bring an action on behalf of the insurer in the Chancery Court to recover the amount of the reduction or
loss together with any costs.
64 Del. Laws, c. 420, § 2; 70 Del. Laws, c. 186, § 1.;
§ 5943. Seizure order.
(a) Upon the filing by the Commissioner in the Chancery Court of a petition alleging: (i) Any ground that would justify a
court order for a formal delinquency proceeding against an insurer under this chapter, and (ii) that the interests of policyholders,
creditors or the public will be endangered by delay, and (iii) setting out the order deemed necessary by the Commissioner,
the Court may issue forthwith, ex parte and without a hearing, the requested order which shall direct the Commissioner to
take possession and control of all or a part of the property, books, accounts, documents and other records of an insurer and
of the premises occupied by it for the transaction of its business, and until further order of the Court enjoin the insurer
and its officers, managers, agents and employees from disposition of its property and from transaction of its business except
with the written consent of the Commissioner.
(b) The Court shall specify in the order what its duration shall be, which shall be such time as the Court deems necessary
for the Commissioner to ascertain the condition of the insurer. Such initial duration or any extension thereof shall not exceed
90 days. On motion of either party or on its own motion, the Court may from time to time hold such hearings as it deems desirable
after such notice as it deems appropriate, and may extend, shorten or modify the terms of the seizure order. The Court shall
vacate the seizure order if the Commissioner fails to commence a formal proceeding under this subchapter prior to the expiration
of a seizure order or any extension thereof. An order of the Court pursuant to a formal proceeding under this subchapter shall
ipso facto vacate the seizure order.
(c) Entry of a seizure order under this section shall not constitute an anticipatory breach of any contract of the insurer.
(d) An insurer subject to an ex parte order of the Chancery Court issued under this section may petition the Court at any
time after the issuance of such order for a hearing and review of the order, and the Court shall grant such a hearing and
review within 10 days of the filing of such petition.
64 Del. Laws, c. 420, § 2.;
§ 5944. Conduct of hearings.
(a) The Chancery Court may hold all hearings in summary proceedings and judicial review thereof privately in chambers, and
shall do so on request of the insurer proceeded against.
(b) In all summary proceedings and judicial reviews thereof, all records of the insurer, other documents and all Insurance
Department files and court records and papers, so far as they pertain to or are a part of the record of the summary proceedings,
shall be and remain confidential except as is necessary to obtain compliance therewith, unless and until the Chancery Court,
after hearing arguments from the parties in chambers, shall order otherwise or unless the insurer requests that the matter
be made public. Until such court order, all papers filed with the Clerk of the Chancery Court shall be held by the Clerk in
a confidential file.
(c) Any person having possession or custody of and refusing to deliver any of the property, books, accounts, documents or
other records of or relating to an insurer against which a seizure order or a summary order has been issued by the Commissioner
or by the Chancery Court may be fined not more than $10,000 or sentenced to undergo imprisonment for not more than 1 year,
or both.
64 Del. Laws, c. 420, § 2; 70 Del. Laws, c. 186, § 1.;
(a) Whenever the Commissioner has reasonable cause to believe, and determines, after a hearing, held as prescribed in subsection
(c) of this section, that any insurer has committed or engaged in any act, practice or transaction that would subject it to
formal delinquency proceedings under this chapter, the Commissioner may make and serve upon the insurer and any other persons
involved such orders, including an order suspending the business of an insurer, as are reasonably necessary to correct, eliminate
or remedy such conduct, condition or ground.
(b) If the conditions of subsection (a) of this section, other than notice and hearing, are satisfied and if the Commissioner
has reasonable grounds to believe that irreparable harm to the property or business of the insurer or to the interests of
its policy or certificate holders, creditors or the public may occur unless the Commissioner issues with immediate effect
the orders described in subsection (a) of this section, the Commissioner may make and serve such orders without notice and
before hearing, simultaneously serving upon the insurer notice of hearing under subsection (c) of this section.
(c) The notice of hearing under subsection (a) or (b) of this section and the summary order issued under subsection (a) or
(b) of this section shall be served pursuant to the applicable rules of civil or administrative procedure. The notice of hearing
under subsection (a) of this section shall state the time and place of hearing and the conduct, condition or ground upon which
the Commissioner would base the order; the notice of hearing under subsection (b) of this section shall state the time and
place of hearing. Unless mutually agreed between the Commissioner and the insurer, the hearing shall occur not more than 15
days after notice is served. The Commissioner shall not publicize such hearings and shall hold all hearings in summary proceedings
privately unless the insurer requests a public hearing, in which case the hearing shall be public.
(d) Any suspension order made by the Commissioner under subsection (a) of this section shall prohibit issuance of policies,
transfers of property and payments of moneys without prior written approval of the Commissioner. Notice of such suspension
shall be given, by first class mail within 15 days thereof, by the suspended organization to those who were creditors, policyholders,
members and certificate holders at the date of suspension. Notice of such suspension shall be given, within 15 days thereof,
by the Commissioner to creditors, policyholders, members and certificate holders by advertising the same by 1 publication
in a newspaper of general circulation in the county where the suspended organization has its principal office. From the date
of such suspension on the ground that the insurer is insolvent or is in such condition that its further transaction of business
will be hazardous financially to its policyholders, creditors or the public, no action at law or equity shall be commenced
or prosecuted, nor shall any judgment be entered against nor shall any execution or attachment be issued or prosecuted against
the suspended insurer, or against its property, in any court in the State; provided, that if such suspension order is vacated
by the Chancery Court for the reason that the suspended insurer is no longer insolvent or in such condition that its further
transaction of business will be hazardous to its policyholders or to its creditors or to the public, these restraints upon
legal process regarding the insurer shall thereafter cease to be operative.
(e) If the Commissioner issues a summary order before a hearing under this section, the insurer may at any time waive the
Commissioner's hearing and apply for immediate judicial relief by means of any remedy afforded by law without first exhausting
administrative remedies.
(f) If any person has violated any order issued under this section which as to him was then still in effect, he shall be liable
to pay a civil penalty imposed by the Chancery Court not to exceed $10,000.
(g) The Commissioner may apply to the Chancery Court for such restraining orders, preliminary and permanent injunctions and
other orders as may be deemed necessary and proper to enforce a summary order.
64 Del. Laws, c. 420, § 2; 70 Del. Laws, c. 186, § 1.;
§ 5942. Commissioner's supervision.
(a) If upon examination or at any other time the Commissioner has reasonable cause to believe, and determines, that an insurer
has committed, engaged in or is about to engage in any act, practice or transaction that would subject it to formal delinquency
proceedings under this chapter, or if such insurance company gives its consent, then the Commissioner shall upon determination
notify the insurer of the determination and furnish to the insurer an order or orders containing a written list of the Commissioner's
requirements to abate his determination. If the Commissioner, after a hearing held as provided in § 5941(c) of this title,
makes a further determination to supervise, the Commissioner shall issue an order to the insurer notifying it that it is under
the supervision of the Commissioner and that the Commissioner is applying and effecting this section. The Commissioner may
issue an order under this section without a hearing under the conditions provided under § 5941(b) of this title, and shall
simultaneously serve upon the insurer notice of a hearing to be held in accordance with § 5941(c) of this title, and, in such
event, the insurer may file an appeal in accordance with § 5941(e) of this title. Such insurer shall comply with the lawful
requirements of the Commissioner and, if placed under an order of supervision, shall have 90 days from the date of service
of such order within which to comply with the requirements of the Commissioner. In the event of such insurer's failure to
comply within such time, the Commissioner may institute proceedings in the Chancery Court to have a rehabilitator or liquidator
appointed under this chapter or issue an order extending an existing order of supervision. Such order extending any existing
order shall be issued prior to the end of each 90-day period, unless otherwise agreed to by the insurer.
(b) The Commissioner may appoint a supervisor to supervise such insurer and may provide that the insurer may not do any of
the following acts, during the period of supervision, without the prior written approval of the Commissioner or the supervisor:
(1) Dispose of, convey or encumber any of its assets or its business in force;
(2) Withdraw any of its bank accounts;
(3) Lend any of its funds;
(4) Invest any of its funds;
(5) Transfer any of its property;
(6) Incur any debt, obligation or liability;
(7) Merge or consolidate with another company; or
(8) Enter into any new reinsurance contract or treaty.
(c) In the event that any person, subject to this chapter, shall violate any valid order of the Commissioner issued under
this section and, as a result, the net worth of the insurer shall be reduced or the insurer shall otherwise suffer loss, said
person shall become personally liable to the insurer for the amount of any such reduction or loss. The Commissioner or supervisor
is authorized to bring an action on behalf of the insurer in the Chancery Court to recover the amount of the reduction or
loss together with any costs.
64 Del. Laws, c. 420, § 2; 70 Del. Laws, c. 186, § 1.;
§ 5943. Seizure order.
(a) Upon the filing by the Commissioner in the Chancery Court of a petition alleging: (i) Any ground that would justify a
court order for a formal delinquency proceeding against an insurer under this chapter, and (ii) that the interests of policyholders,
creditors or the public will be endangered by delay, and (iii) setting out the order deemed necessary by the Commissioner,
the Court may issue forthwith, ex parte and without a hearing, the requested order which shall direct the Commissioner to
take possession and control of all or a part of the property, books, accounts, documents and other records of an insurer and
of the premises occupied by it for the transaction of its business, and until further order of the Court enjoin the insurer
and its officers, managers, agents and employees from disposition of its property and from transaction of its business except
with the written consent of the Commissioner.
(b) The Court shall specify in the order what its duration shall be, which shall be such time as the Court deems necessary
for the Commissioner to ascertain the condition of the insurer. Such initial duration or any extension thereof shall not exceed
90 days. On motion of either party or on its own motion, the Court may from time to time hold such hearings as it deems desirable
after such notice as it deems appropriate, and may extend, shorten or modify the terms of the seizure order. The Court shall
vacate the seizure order if the Commissioner fails to commence a formal proceeding under this subchapter prior to the expiration
of a seizure order or any extension thereof. An order of the Court pursuant to a formal proceeding under this subchapter shall
ipso facto vacate the seizure order.
(c) Entry of a seizure order under this section shall not constitute an anticipatory breach of any contract of the insurer.
(d) An insurer subject to an ex parte order of the Chancery Court issued under this section may petition the Court at any
time after the issuance of such order for a hearing and review of the order, and the Court shall grant such a hearing and
review within 10 days of the filing of such petition.
64 Del. Laws, c. 420, § 2.;
§ 5944. Conduct of hearings.
(a) The Chancery Court may hold all hearings in summary proceedings and judicial review thereof privately in chambers, and
shall do so on request of the insurer proceeded against.
(b) In all summary proceedings and judicial reviews thereof, all records of the insurer, other documents and all Insurance
Department files and court records and papers, so far as they pertain to or are a part of the record of the summary proceedings,
shall be and remain confidential except as is necessary to obtain compliance therewith, unless and until the Chancery Court,
after hearing arguments from the parties in chambers, shall order otherwise or unless the insurer requests that the matter
be made public. Until such court order, all papers filed with the Clerk of the Chancery Court shall be held by the Clerk in
a confidential file.
(c) Any person having possession or custody of and refusing to deliver any of the property, books, accounts, documents or
other records of or relating to an insurer against which a seizure order or a summary order has been issued by the Commissioner
or by the Chancery Court may be fined not more than $10,000 or sentenced to undergo imprisonment for not more than 1 year,
or both.
64 Del. Laws, c. 420, § 2; 70 Del. Laws, c. 186, § 1.;
(a) Whenever the Commissioner has reasonable cause to believe, and determines, after a hearing, held as prescribed in subsection
(c) of this section, that any insurer has committed or engaged in any act, practice or transaction that would subject it to
formal delinquency proceedings under this chapter, the Commissioner may make and serve upon the insurer and any other persons
involved such orders, including an order suspending the business of an insurer, as are reasonably necessary to correct, eliminate
or remedy such conduct, condition or ground.
(b) If the conditions of subsection (a) of this section, other than notice and hearing, are satisfied and if the Commissioner
has reasonable grounds to believe that irreparable harm to the property or business of the insurer or to the interests of
its policy or certificate holders, creditors or the public may occur unless the Commissioner issues with immediate effect
the orders described in subsection (a) of this section, the Commissioner may make and serve such orders without notice and
before hearing, simultaneously serving upon the insurer notice of hearing under subsection (c) of this section.
(c) The notice of hearing under subsection (a) or (b) of this section and the summary order issued under subsection (a) or
(b) of this section shall be served pursuant to the applicable rules of civil or administrative procedure. The notice of hearing
under subsection (a) of this section shall state the time and place of hearing and the conduct, condition or ground upon which
the Commissioner would base the order; the notice of hearing under subsection (b) of this section shall state the time and
place of hearing. Unless mutually agreed between the Commissioner and the insurer, the hearing shall occur not more than 15
days after notice is served. The Commissioner shall not publicize such hearings and shall hold all hearings in summary proceedings
privately unless the insurer requests a public hearing, in which case the hearing shall be public.
(d) Any suspension order made by the Commissioner under subsection (a) of this section shall prohibit issuance of policies,
transfers of property and payments of moneys without prior written approval of the Commissioner. Notice of such suspension
shall be given, by first class mail within 15 days thereof, by the suspended organization to those who were creditors, policyholders,
members and certificate holders at the date of suspension. Notice of such suspension shall be given, within 15 days thereof,
by the Commissioner to creditors, policyholders, members and certificate holders by advertising the same by 1 publication
in a newspaper of general circulation in the county where the suspended organization has its principal office. From the date
of such suspension on the ground that the insurer is insolvent or is in such condition that its further transaction of business
will be hazardous financially to its policyholders, creditors or the public, no action at law or equity shall be commenced
or prosecuted, nor shall any judgment be entered against nor shall any execution or attachment be issued or prosecuted against
the suspended insurer, or against its property, in any court in the State; provided, that if such suspension order is vacated
by the Chancery Court for the reason that the suspended insurer is no longer insolvent or in such condition that its further
transaction of business will be hazardous to its policyholders or to its creditors or to the public, these restraints upon
legal process regarding the insurer shall thereafter cease to be operative.
(e) If the Commissioner issues a summary order before a hearing under this section, the insurer may at any time waive the
Commissioner's hearing and apply for immediate judicial relief by means of any remedy afforded by law without first exhausting
administrative remedies.
(f) If any person has violated any order issued under this section which as to him was then still in effect, he shall be liable
to pay a civil penalty imposed by the Chancery Court not to exceed $10,000.
(g) The Commissioner may apply to the Chancery Court for such restraining orders, preliminary and permanent injunctions and
other orders as may be deemed necessary and proper to enforce a summary order.
64 Del. Laws, c. 420, § 2; 70 Del. Laws, c. 186, § 1.;
§ 5942. Commissioner's supervision.
(a) If upon examination or at any other time the Commissioner has reasonable cause to believe, and determines, that an insurer
has committed, engaged in or is about to engage in any act, practice or transaction that would subject it to formal delinquency
proceedings under this chapter, or if such insurance company gives its consent, then the Commissioner shall upon determination
notify the insurer of the determination and furnish to the insurer an order or orders containing a written list of the Commissioner's
requirements to abate his determination. If the Commissioner, after a hearing held as provided in § 5941(c) of this title,
makes a further determination to supervise, the Commissioner shall issue an order to the insurer notifying it that it is under
the supervision of the Commissioner and that the Commissioner is applying and effecting this section. The Commissioner may
issue an order under this section without a hearing under the conditions provided under § 5941(b) of this title, and shall
simultaneously serve upon the insurer notice of a hearing to be held in accordance with § 5941(c) of this title, and, in such
event, the insurer may file an appeal in accordance with § 5941(e) of this title. Such insurer shall comply with the lawful
requirements of the Commissioner and, if placed under an order of supervision, shall have 90 days from the date of service
of such order within which to comply with the requirements of the Commissioner. In the event of such insurer's failure to
comply within such time, the Commissioner may institute proceedings in the Chancery Court to have a rehabilitator or liquidator
appointed under this chapter or issue an order extending an existing order of supervision. Such order extending any existing
order shall be issued prior to the end of each 90-day period, unless otherwise agreed to by the insurer.
(b) The Commissioner may appoint a supervisor to supervise such insurer and may provide that the insurer may not do any of
the following acts, during the period of supervision, without the prior written approval of the Commissioner or the supervisor:
(1) Dispose of, convey or encumber any of its assets or its business in force;
(2) Withdraw any of its bank accounts;
(3) Lend any of its funds;
(4) Invest any of its funds;
(5) Transfer any of its property;
(6) Incur any debt, obligation or liability;
(7) Merge or consolidate with another company; or
(8) Enter into any new reinsurance contract or treaty.
(c) In the event that any person, subject to this chapter, shall violate any valid order of the Commissioner issued under
this section and, as a result, the net worth of the insurer shall be reduced or the insurer shall otherwise suffer loss, said
person shall become personally liable to the insurer for the amount of any such reduction or loss. The Commissioner or supervisor
is authorized to bring an action on behalf of the insurer in the Chancery Court to recover the amount of the reduction or
loss together with any costs.
64 Del. Laws, c. 420, § 2; 70 Del. Laws, c. 186, § 1.;
§ 5943. Seizure order.
(a) Upon the filing by the Commissioner in the Chancery Court of a petition alleging: (i) Any ground that would justify a
court order for a formal delinquency proceeding against an insurer under this chapter, and (ii) that the interests of policyholders,
creditors or the public will be endangered by delay, and (iii) setting out the order deemed necessary by the Commissioner,
the Court may issue forthwith, ex parte and without a hearing, the requested order which shall direct the Commissioner to
take possession and control of all or a part of the property, books, accounts, documents and other records of an insurer and
of the premises occupied by it for the transaction of its business, and until further order of the Court enjoin the insurer
and its officers, managers, agents and employees from disposition of its property and from transaction of its business except
with the written consent of the Commissioner.
(b) The Court shall specify in the order what its duration shall be, which shall be such time as the Court deems necessary
for the Commissioner to ascertain the condition of the insurer. Such initial duration or any extension thereof shall not exceed
90 days. On motion of either party or on its own motion, the Court may from time to time hold such hearings as it deems desirable
after such notice as it deems appropriate, and may extend, shorten or modify the terms of the seizure order. The Court shall
vacate the seizure order if the Commissioner fails to commence a formal proceeding under this subchapter prior to the expiration
of a seizure order or any extension thereof. An order of the Court pursuant to a formal proceeding under this subchapter shall
ipso facto vacate the seizure order.
(c) Entry of a seizure order under this section shall not constitute an anticipatory breach of any contract of the insurer.
(d) An insurer subject to an ex parte order of the Chancery Court issued under this section may petition the Court at any
time after the issuance of such order for a hearing and review of the order, and the Court shall grant such a hearing and
review within 10 days of the filing of such petition.
64 Del. Laws, c. 420, § 2.;
§ 5944. Conduct of hearings.
(a) The Chancery Court may hold all hearings in summary proceedings and judicial review thereof privately in chambers, and
shall do so on request of the insurer proceeded against.
(b) In all summary proceedings and judicial reviews thereof, all records of the insurer, other documents and all Insurance
Department files and court records and papers, so far as they pertain to or are a part of the record of the summary proceedings,
shall be and remain confidential except as is necessary to obtain compliance therewith, unless and until the Chancery Court,
after hearing arguments from the parties in chambers, shall order otherwise or unless the insurer requests that the matter
be made public. Until such court order, all papers filed with the Clerk of the Chancery Court shall be held by the Clerk in
a confidential file.
(c) Any person having possession or custody of and refusing to deliver any of the property, books, accounts, documents or
other records of or relating to an insurer against which a seizure order or a summary order has been issued by the Commissioner
or by the Chancery Court may be fined not more than $10,000 or sentenced to undergo imprisonment for not more than 1 year,
or both.
64 Del. Laws, c. 420, § 2; 70 Del. Laws, c. 186, § 1.;
