AN ACT TO AMEND TITLE 18, CHAPTER 29, SECTION 2933 (c), DELAWARE CODE RELATING TO INSURANCE BY PROVIDING FOR THE INSULATION OR WALLING-OFF OF THE ASSETS OF SEPARATE ACCOUNTS AND PROVIDING FOR THE MINIMAL VALUATION OF SUCH ACCOUNTS.
Be it enacted by the General Assembly of the State of Delaware:
Section 1. Section 2933 (c) of Title 18, Delaware Code, is amended to read as follows:
(c) The income, if any, and gains and losses, realized or unrealized, on each such account shall be credited to or charged against the amounts allocated to the account in accordance with the agreement, without regard to other income, gains or losses of the insurer. The assets of each such account shall have a value at least equal to the reserves and other contract liabilities with respect to such account. That portion of the assets of each such account equal to the reserves and other contract liabilities with respect to such account shall not be chargeable with liabilities arising out of any other business which the insurer may conduct.
Approved July 8, 1969.