SENATE BILL NO. 63
AN ACT TO AMEND TITLE 18 OF THE DELAWARE CODE RELATING TO INSURER INVESTMENTS IN FOREIGN COUNTRIES.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE :
Section 1. Amend §1321(a), Title 18 of the Delaware Code by striking the term “10%” where it appears in the second sentence of §1321(a) and by substituting in lieu thereof “15%”; and by adding the following sentence at the end of subsection (a):
“The Commissioner may promulgate regulations which permit, after thorough and appropriate review on a case-by-case basis, a life insurer domiciled in Delaware to increase its aggregate limit on foreign investments to 20%.”.
Approved May 30, 2007