§ 6971. Repeals; effective date; applicability.
(a) Except as provided in subsection (b) of this section, this chapter shall apply to all captive insurance companies.
(b) Chapter 69 of this title as in effect prior to the enactment of this chapter is hereby repealed, except as set forth in the next sentence. Chapter 69 of this title as in effect on July 11, 2005, shall apply to any captive insurance company licensed under such chapter as of such date that has not submitted a written notice to the Commissioner under subsection (c) of this section.
(c) Any captive insurance company licensed in this State as of July 11, 2005, that otherwise would be subject to the application of Chapter 69 of this title as in effect on such date may elect to become subject to the application of this chapter instead by submitting to the Commissioner a written notice to that effect. (75 Del. Laws, c. 150, § 1; 76 Del. Laws, c. 161, § 14.)
§ 6972. Reserved power of this State to alter or repeal chapter.
All provisions of this chapter may be altered from time to time or repealed. (75 Del. Laws, c. 150, § 1; 76 Del. Laws, c. 161, § 14.)
This chapter may be cited as the "Delaware Revised Captive Insurance Company Act." (75 Del. Laws, c. 150, § 1; 76 Del. Laws, c. 161, § 14.)
NOTICE: The Delaware Code appearing on this site was prepared by the Division of Research of Legislative Council of the General Assembly with the assistance of the Government Information Center, under the supervision of the Delaware Code Revisors and the editorial staff of LexisNexis, includes all acts up to and including 76 Del. Laws, c. 288, effective July 1, 2008.
DISCLAIMER: Please Note: With respect to the Delaware Code documents available from this site or server, neither the State of Delaware nor any of its employees, makes any warranty, express or implied, including the warranties of merchantability and fitness for a particular purpose, or assumes any legal liability or responsibility for the accuracy, completeness, or usefulness of any information, apparatus, product, or process disclosed, or represents that its use would not infringe privately-owned rights. This information is provided for informational purposes only. Please seek legal counsel for help on interpretation of individual statutes.