The legislature's own summary of the bill, or its official long title.
This bill amends Chapter 69 of Title 18 relating to captive insurance to provide the Commissioner with additional flexibility to approve those types of financial institutions that would be authorized to hold required capital and surplus of captive insurance companies. This change would recognize the current financial environment and practices of financial institutions and captive insurers. Assets can be safely held…
Read the full title (114 words)
This bill amends Chapter 69 of Title 18 relating to captive insurance to provide the Commissioner with additional flexibility to approve those types of financial institutions that would be authorized to hold required capital and surplus of captive insurance companies. This change would recognize the current financial environment and practices of financial institutions and captive insurers. Assets can be safely held in financial institutions other than banks and do not need to be held in Delaware in many circumstances where the type of risk does not require it, and the Commissioner will be authorized to impose additional conditions on captives related to capital and surplus to ensure the solvency and efficient operations of captives.
Every action
7 steps, oldest first, as the legislature records them.
CommitteeIntroduced and Assigned to Banking, Business, Insurance & Technology Committee in Senate · Senate Banking, Business, Insurance & Technology
CommitteeReported Out of Committee (Banking, Business, Insurance & Technology) in Senate with 5 On Its Merits · Senate Banking, Business, Insurance & Technology
SenatePassed By Senate. Votes: 19 YES 1 NO 1 ABSENT
CommitteeAssigned to Economic Development/Banking/Insurance & Commerce Committee in House · House Economic Development/Banking/Insurance & Commerce
CommitteeReported Out of Committee (Economic Development/Banking/Insurance & Commerce) in House with 7 On Its Merits · House Economic Development/Banking/Insurance & Commerce
HousePassed By House. Votes: 40 YES 1 ABSENT40–0 vote
GovernorSigned by Governor
Roll calls
2 recorded votes: 2 on the floor, 0 in committee. Each shows how every member voted.
Passed By Senate. Votes: 19 YES 1 NO 1 ABSENT (2/3 required) · Full Senate