HOUSE BILL NO. 356
AS AMENDED BY HOUSE AMENDMENT NO. 1
AN ACT TO AMEND TITLE 18 OF THE DELAWARE CODE RELATING TO THE INSURANCE CODE TO LIMIT THE AMOUNT OF SURPLUS IN A SINGLE INVESTMENT.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:
Section 1. Amend Title 18, Delaware Code, Section 1305, subsection (6) by
adding the following words at the end of that Section:
"Notwithstanding any other limitations contained herein, no investment in a single person other than as provided in Section 1313, shall exceed 50% of policyholders' surplus without the written approval of the Commissioner."
Approved July 12, 1994.