Delaware House Bill 382 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Slight Partisan Bill (Democrat 3-1)
Status: Passed on July 5 2012 - 100% progression
Action: 2012-07-05 - Signed by Governor
Text: Latest bill text (Draft #1) [HTML]

Section 1 amends 4972 of the Delaware Insurance Company Mutual-to-Stock Conversion Act (“Act”) by making technical changes to definitions of terms used in the Act to provide clarity and further flexibility. Section 2 amends 4973(a) of the Act to confirm that an alternative plan of conversion adopted under 4978 of the Act is covered by such 4973(a). Section 3 amends 4974 of the Act to confirm that a foreign mutual holding company may redomesticate to Delaware and that an alternative plan of conversion adopted under 4978 of the Act is covered by 4974(f). Section 4 amends 4975 of the Act to foster flexibility in connection with mutual to stock conversions. Section 5 amends 4978 of the Act to conform 4978(a)(4) to 4972(9) of the Act, to clarify the process for conversion of a mutual holding company to stock form under the Act, and to facilitate such conversions.

An Act To Amend Chapter 49a, Title 18 Of The Delaware Code Relating To Delaware Insurance Company Mutual-to-stock Conversion Act.

Sen. Patricia Blevins [D]

Sen. Catherine Cloutier [R]

Rep. Bryon Short [D]

Rep. Melanie Smith [D]

2012-06-28 - Senate - Senate Third Reading (Y: 18 N: 0 NV: 2 Abs: 1) [PASS]
2012-06-19 - House - House Third Reading (Y: 41 N: 0 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2012-07-05		Signed by Governor
2012-06-28		Passed by Senate. Votes: Passed 18 YES 0 NO 2 NOT VOTING 1 ABSENT 0 VACANT
2012-06-28		Necessary rules are suspended in Senate
2012-06-19		Passed by House of Representatives. Votes: Passed 41 YES 0 NO 0 NOT VOTING 0 ABSENT 0 VACANT
2012-06-13		Reported Out of Committee (ECONOMIC DEVELOPMENT/BANKING/INSURANCE/COMMERCE) in House with 1 Favorable, 11 On Its Merits
2012-06-12		Introduced and Assigned to Economic Development/Banking/Insurance/Commerce Committee in House

Type	Source
Summary	http://legis.delaware.gov/LIS/lis146.nsf/2bede841c6272c888025698400433a04/b54a9d5dc28193fa85257a1600531b03?OpenDocument
Text	http://legis.delaware.gov/LIS/lis146.nsf/vwLegislation/HB+382/$file/legis.html?open
Roll Call	http://legis.delaware.gov/LIS/lis146.nsf/7712cf7cc0e9227a852568470077336f/89cfadbe5f111e4c85257a220075ce3a?OpenDocument
Roll Call	http://legis.delaware.gov/LIS/lis146.nsf/7712cf7cc0e9227a852568470077336f/fd710a2c66d691af85257a2b006a546f?OpenDocument