DE HB47 | 2023-2024 | 152nd General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Democrat 7-0)
Status: Passed on May 25 2023 - 100% progression
Action: 2023-05-25 - Signed by Governor
Text: Latest bill text (Draft #1) [HTML]
Spectrum: Partisan Bill (Democrat 7-0)
Status: Passed on May 25 2023 - 100% progression
Action: 2023-05-25 - Signed by Governor
Text: Latest bill text (Draft #1) [HTML]
Summary
Delawares capital and surplus requirements for insurers have been in place for over fifty years and are currently among the lowest in the country. This bill increases the minimum amount of capital stock and free surplus an insurer must possess and maintain in order to transact business in the State of Delaware, making them more in line with other jurisdictions.
Title
An Act To Amend Title 18 Of The Delaware Code Relating To Authorization Of Insurers And General Requirements.
Sponsors
| Rep. William Bush [D] | Sen. Spiros Mantzavinos [D] | Sen. Jack Walsh [D] | Rep. Paul Baumbach [D] |
| Rep. Stephanie Bolden [D] | Rep. William Carson [D] | Rep. Kerri Harris [D] |
Roll Calls
2023-05-11 - Senate - Senate Third Reading (Y: 21 N: 0 NV: 0 Abs: 0) [PASS]
2023-04-04 - House - House Third Reading (Y: 38 N: 0 NV: 0 Abs: 3) [PASS]
2023-04-04 - House - House Third Reading (Y: 38 N: 0 NV: 0 Abs: 3) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2023-05-25 | Signed by Governor | |
| 2023-05-11 | Passed By Senate. Votes: 21 YES | |
| 2023-04-26 | Reported Out of Committee (Banking, Business, Insurance & Technology) in Senate with 1 Favorable, 4 On Its Merits | |
| 2023-04-04 | Assigned to Banking, Business, Insurance & Technology Committee in Senate | |
| 2023-04-04 | Passed By House. Votes: 38 YES 3 ABSENT | |
| 2023-01-18 | Reported Out of Committee (Economic Development/Banking/Insurance & Commerce) in House with 11 On Its Merits | |
| 2023-01-12 | Introduced and Assigned to Economic Development/Banking/Insurance & Commerce Committee in House |
