CHAPTER 5

INSURANCE DEPARTMENT

LIFE INSURANCE AND INVESTMENT OF FUNDS OF INSURANCE COMPANIES

AN ACT TO AMEND CHAPTER 20 OF THE REVISED CODE OF DELAWARE, OF 1935, AS AMENDED, RELATING TO THE INSURANCE DEPARTMENT AND MORE PARTICULARLY RELATING TO LIFE INSURANCE AND TO THE INVESTMENT OF FUNDS OF INSURANCE COMPANIES.

Be it enacted by the Senate and House of Representatives of the State of Delaware in General Assembly met:

Section 1. That Chapter 20 of the Revised Code of Delaware, 1935, as amended, be and it hereby is further amended by striking out therefrom Paragraph (12) of 492. Sec. 31 and inserting in lieu thereof a new Paragraph (12) reading as follows:

(12) A company doing business in a foreign country may invest the funds required to meet its obligations in such country and in conformity to the laws thereof in the same kinds of securities in such foreign country that such company is allowed by law to invest in the United States; and if such company is not doing business in any State, Territory or District of the United States it may invest its funds as allowed by the laws of any jurisdiction where it does business.

Approved November 4, 1949.