SS 1 for SB 36 — Session Law

… LY SENATE SUBSTITUTE NO. 1 FOR SENATE BILL NO. 36 AN ACT TO AMEND TITLE 18 OF THE DELAWARE CODE RELATING TO CAPTIVE INSURANCE COMPANIES. BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE: Section 1. Amend § 6902, Title 18 of the …

… follows: § 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: a c …

… 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 continuous 12-month period: a. The …

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

… 2. Did not contract Contract for, or assume, any reinsurance premium; 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 …

… urance premium; 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 company …

… 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 company. c. The compa …

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