AN ACT RELATING TO THE INSURANCE STUDY AND REVISION COMMITTEE ESTABLISHED BY CHAPTER 306, VOLUME 55, LAWS OF DELAWARE, AS AMENDED BY CHAPTER 356, VOLUME 55, LAWS OF DELAWARE, CONTINUING THE LIFE OF SAID COMMITTEE AND MAKING A SUPPLEMENTARY APPROPRIATION THEREFOR.
Be it enacted by the General Assembly of the State of Delaware:
Section 1. The Insurance Study and Revision Committee established by Chapter 306, Volume 55, Laws of Delaware, as amended by Chapter 356, Volume 55, Laws of Delaware, shall continue and be comprised of Robert A. Short, Calvin R. McCullough, Harry S. Wilson, William F. Lynch, II, Robert G. Hackett, Harry S. Smith and Ralph Lord, until April 15, 1968. Any vacancy created by death or resignation shall be filled by appointment by the Governor.
Section 2. The time for submission of the report, containing recommended revisions of the Insurance Law of the State of Delaware for submission to the General Assembly, shall be extended to on or before April 15, 1968.
Section 3. There is hereby appropriated to the Insurance Study and Revision Committee the sum of $20,000 to be used by the Committee for its comprehensive review and study of the Insurance Law of the State of Delaware and for the preparation of the aforesaid report containing recommended revisions of such law for submission to the General Assembly.
Section 4. The Insurance Study and Revision Committee is authorized to spend the money appropriated by Section 3 of this act for consultants and assistance in such manner as will, in its discretion, most expeditiously accomplish the purposes of this act and will include a report of its expenditure of such funds to the Governor and the General Assembly in the report required by Section 2 hereof.
Section 5. This act is a supplementary appropriation act and the money hereby appropriated shall be paid by the State Treasurer out of any moneys in the General Fund of the State of Delaware not otherwise appropriated. The money hereby appropriated shall remain available to the Insurance Study and Revision Committee until the purposes of this act have been accomplished or until June 30, 1968, and any of said money remaining unexpended upon the completion of the project or on June 30, 1968 shall revert to the General Fund of the State.
Approved December 26, 1967.