CHAPTER 223

FORMERLY

HOUSE BILL NO. 406

AN ACT TO AMEND TITLE 18 OF THE DELAWARE CODE RELATING TO CAPTIVE INSURANCE COMPANIES.

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

Section 1. Amend §6906 of Title 18 by adding a new subsection "(I)" thereto as follows:

"(i) Captive Insurance companies formed under the laws of other states or jurisdictions shall submit their petition to the Commissioner required by (d) above and shall commence business under this chapter only upon the issuance of the certificate described In such subsection. Captive Insurance companies formed under the laws of other states or jurisdictions shall have the privileges and be subject to the general corporation laws of such other state or jurisdiction as well as the applicable provisions

Approved April 8, 1988