HOUSE BILL NO. 224
AS AMENDED BY HOUSE AMENDMENT NO. I
AN ACT TO AMEND CHAPTER 463, VOLUME 69, LAWS OF DELAWARE, AS AMENDED BY SECTION 81, CHAPTER 118, VOLUME 70 LAWS OF DELAWARE AND TITLE 18 OF THE DELAWARE CODE RELATING TO INSURANCE FRAUD PREVENTION BUREAU OF THE OFFICE OF THE INSURANCE COMMISSIONER.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE (Three-fifths of all members elected to each House thereof concurring therein):
Section 1. Amend Chapter 463, Volume 69 Laws of Delaware as amended by § 81, Chapter 118, Volume 70, Laws of Delaware by striking "Section 4. Assessments" in its entirety.
Section 2. Amend Chapter 24, Title 18 of the Delaware Code by adding a new section to read as follows:
"§ 2415. Funding.
The costs of administration and operation of the Delaware Insurance Fraud Prevention Bureau shall be borne by all of the insurance companies admitted or authorized to transact the business of insurance in this State. The Commissioner shall assess $550 annually against each insurance company to provide the funds necessary for the operation of the Bureau."
Approved June 17, 1997