HB 87 w/ HA 1, HA 2 — Session Law

… HOUSE AMENDMENT NO.1 AND HOUSE AMENDMENT NO. 2 AN ACT TO AMEND TITLE 18 OF THE DELAWARE CODE RELATING TO CAPTIVE INSURANCE. BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE (Three -fifths of all members elected to each h …

… dingly: § 6902 Definitions. As used in this chapter, unless the context requires otherwise: (17) “Dormant captive insurance company” means a captive insurance company which meets all of the following criteria for an entire calendar year: …

… used in this chapter, unless the context requires otherwise: (17) “Dormant captive insurance company” means a captive insurance company which meets all of the following criteria for an entire calendar year: a. The company: 1. Did not contra …

… he company: 1. Did not contract for, or collect, any direct premium; and 2. Did not contract for, or assume, any reinsurance premium; b. The company was not obligated as an insurance company of any type under any contract of insurance or r …

… premium; and 2. Did not contract for, or assume, any reinsurance premium; b. The company was not obligated as an insurance company of any type under any contract of insurance or reinsurance issued or entered into during any year in which it …

… any reinsurance premium; b. The company was not obligated as an insurance company of any type under any contract of insurance or reinsurance issued or entered into during any year in which it is a dormant captive insurance company; and c. T …

… premium; b. The company was not obligated as an insurance company of any type under any contract of insurance or reinsurance issued or entered into during any year in which it is a dormant captive insurance company; and c. The company has pr …

… nder any contract of insurance or reinsurance issued or entered into during any year in which it is a dormant captive insurance company; and c. The company has provided written notice to the Commissioner of its intention to be treated as a dorm …