CHAPTER 418

FORMERLY

SENATE BILL NO. 498

AN ACT TO AMEND CHAPTER 58, TITLE 29 OF THE DELAWARE CODE RELATING TO FINANCIAL DISCLOSURE REQUIREMENTS OF PUBLIC OFFICIALS.

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

Section 1. Amend §5812, Title 29 of the Delaware Code to add the following new clause "(o)" at the end thereof:

"(o) 'Gift' means a payment, subscription, advance, forbearance, rendering or deposit of money, services or anything of value unless consideration of equal or greater value is received. 'Gift' shall not include a political contribution otherwise reported as required by law, a commercially reasonable loan made in the ordinary course of business, or a gift received from a spouse or any relative within the third degree of consanguinity of the person or person's spouse or from the spouse of any such relative."

Section 2. Amend §5813(a)(4) of Title 29, Delaware Code by adding "or" at the end of clause "d" and by adding the following new clause "e":

"(e) Any gift with a value in excess of $250 received from any person, identifying also in each case the amount of each such gift."

Section 3. This Act shall apply to financial disclosure statements filed after the date of enactment.

Approved July 23, 1990.