HOUSE BILL NO. 324
AN ACT TO AMEND TITLE 16 OF THE DELAWARE CODE RELATING TO THE PATIENTS' TRUST FUND.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE :
Section 1. Amend § 6002, Chapter 60, Title 16 of the Delaware Code, by striking § 6002 in its entirety and by substituting in lieu thereof the following:
“§ 6002. Commingling of Funds.
Any institution which has funds belonging to any patient of the institution, or deposited for the benefit of any patient, may commingle the funds by depositing them with the State Treasurer in an interest bearing account to be invested relatively free of risk on behalf of the beneficiaries according to the State’s Cash Management Policy. For the purpose of account reporting, an institution shall maintain supporting records that show the share each patient has in the account.”.
Section 2. Amend § 6004, Chapter 60, Title 16 of the Delaware Code, by striking § 6004 in its entirety and by substituting in lieu thereof the following:
§ 6004. Use of Interest.
The interest or other income from the deposits earned shall be credited to the appropriate institution for distribution to individual patient accounts on a monthly basis. The interest or other income that results from an investment is the property of the beneficiary and may not be considered to be the property of the institution.”.
Approved June 1, 2006