CHAPTER 108

FORMERLY

SENATE BILL NO. 180

AN ACT TO AMEND TITLE 18 OF THE DELAWARE CODE RELATING TO THE INVESTMENTS OF DOMESTIC INSURERS.

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

Section 1. Amend §1302(c) Title 18 of the Delaware Code by deleting the existing text

in its entirety and substituting in lieu thereof the following:

An investment qualified, in whole or in part, for acquisition or holding as an eligible investment may be qualified or requalified at the time of acquisition or at a later date, in whole or in part, under any section of this chapter, if the relevant conditions contained in the section are satisfied at the time of qualification or requalification. In order for an investment, subsequent to the time of its acquisition, to be qualified or requalified, prior written approval of the Commissioner must be obtained."

Section 2. Amend §1302(e)(3) Title 18 of the Delaware Code to insert after "§1323(e)" and before the phrase "of this Title" the phrase "or any other provision."

Section 3. Amend §1308(3) Title 18 of the Delaware Code to insert after the phrase "contingent interest obligations" and before the phrase "if the net earnings" the phrase "including, without limitation, variable or adjustable rate interest obligations".

Section 4. Amend §1309(a)(1) Title 18 of the Delaware Code by deleting the existing text in its entirety and substituting in lieu thereof the following:

'Obligations' includes bonds, debentures, notes and other evidences of indebtedness (whether or not liability for payment extends beyond the security therefor) as well as participation interests in any of the foregoing."

Approved June 26, 1995