DE HB393 | 2017-2018 | 149th General Assembly

Status

Spectrum: Partisan Bill (Democrat 5-0)
Status: Introduced on May 1 2018 - 25% progression
Action: 2018-05-02 - Reported Out of Committee (Economic Development/Banking/Insurance/Commerce) in House with 11 On Its Merits
Text: Latest bill text (Draft #1) [HTML]

Summary

This Bill updates the Delaware Viatical Settlements Act by amending the license and bond requirements for a viatical settlement provider or viatical settlement broker. The Act allows an applicant seeking licensure as a viatical settlement provider to prove financial responsibility by (1) providing audited financial statements showing a minimum equity of more than 250 thousand dollars or (2) providing audited annual financial statements showing positive equity and a surety bond for 250 thousand dollars or a letter of credit amounting 250 thousand dollars. The applicant also may provide proof of financial responsibility if they are licensed in another state and have established proof of financial responsibility to said state.

Tracking Information

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Title

An Act To Amend Title 18 Of The Delaware Code Relating To Insurance.

Sponsors


History

DateChamberAction
2018-05-02 Reported Out of Committee (Economic Development/Banking/Insurance/Commerce) in House with 11 On Its Merits
2018-05-01 Introduced and Assigned to Economic Development/Banking/Insurance/Commerce Committee in House

Delaware State Sources


Bill Comments

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