CHAPTER 419

FORMERLY

SENATE BILL NO. 554

AN ACT TO AMEND TITLE 18, DELAWARE CODE, CHAPTER IS, TO REQUIRE INSURERS TO BEAR THE COSTS OF MAINTAINING SECURITIES ON DEPOSIT.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:

Section 1. Amend Title 18, Delaware Code, Chapter 15, Section 1504(b) by deleting the words "and shall bear the costs of the depository" and adding in lieu thereof "and shall charge the costs of maintaining these deposits to the insurer" after the words "The State shall be responsible for the safekeeping of all securities deposited under this subsection".

Section 2. This act shall become effective immediately upon its adoption.

Approved July 3, 1986.