HB 334 — Session Law

… CHAPTER 453 FORMERLY HOUSE BILL NO. 334 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 …

… insertions as shown by underline as follows: § 6903. License application; certificate of authority. (b) No captive insurance company shall do any insurance business in this State unless: (1) It first obtains from the Commissioner is authori …

… ne as follows: § 6903. License application; certificate of authority. (b) No captive insurance company shall do any insurance business in this State unless: (1) It first obtains from the Commissioner is authorized by the Commissioner to do i …

… e business in this State unless: (1) It first obtains from the Commissioner is authorized by the Commissioner to do insurance business in this State under one of the following: a. a A certificate of authority authorizing it to do insurance b …

… o insurance business in this State under one of the following: a. a A certificate of authority authorizing it to do insurance business in this State under subsection (f) of this section; or b. A conditional certificate of authority under su …

… n; or b. A conditional certificate of authority under subsection (g) of this section; (d)(1) Each applicant captive insurance company shall pay to the Commissioner a nonrefundable application fee of $300 for reviewing its application to determ …

… hority of this section. (4) In addition to any other fee imposed or cost assessed under this section , each captive insurance company shall pay a nonrefundable license fee for the year of registration and a nonrefundable renewal fee for each …

… se fee for the year of registration and a nonrefundable renewal fee for each year thereafter of $400. (5) A captive insurance company that files an application for a conditional certificate of authority under subsection (g) of this section mus …