DE HB346 | 2011-2012 | 146th General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Democrat 2-0)
Status: Passed on July 27 2012 - 100% progression
Action: 2012-07-27 - Signed by Governor
Text: Latest bill text (Draft #1) [HTML]
Spectrum: Partisan Bill (Democrat 2-0)
Status: Passed on July 27 2012 - 100% progression
Action: 2012-07-27 - Signed by Governor
Text: Latest bill text (Draft #1) [HTML]
Summary
The changes made by this bill are pursuant to the NAIC Credit For Reinsurance Model Act. Delaware domiciles may have access to reinsurance at more competitive prices and will be in a better financial position to compete by passing this bill. On July 21, 2010, Congress passed and the President signed related federal legislation, the Nonadmitted and Reinsurance Reform Act, which became effective July 21, 2011. The federal bill allows preemption of the extraterritorial application of state credit for reinsurance law and permits states of domicile to proceed forward with reinsurance collateral reforms on an individual basis if they are accredited. Failure to adopt this bill could result in companies leaving Delaware.
Title
An Act To Amend Title 18 Of The Delaware Code Relating To Reinsurance.
Sponsors
Roll Calls
2012-07-01 - Senate - Senate Third Reading (Y: 21 N: 0 NV: 0 Abs: 0) [PASS]
2012-06-28 - House - House Third Reading (Y: 41 N: 0 NV: 0 Abs: 0) [PASS]
2012-06-28 - House - House Third Reading (Y: 41 N: 0 NV: 0 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2012-07-27 | Signed by Governor | |
| 2012-07-01 | Passed by Senate. Votes: Passed 21 YES 0 NO 0 NOT VOTING 0 ABSENT 0 VACANT | |
| 2012-07-01 | Necessary rules are suspended in Senate | |
| 2012-06-28 | Passed by House of Representatives. Votes: Passed 41 YES 0 NO 0 NOT VOTING 0 ABSENT 0 VACANT | |
| 2012-06-06 | Reported Out of Committee (ECONOMIC DEVELOPMENT/BANKING/INSURANCE/COMMERCE) in House with 10 On Its Merits | |
| 2012-05-15 | Introduced and Assigned to Economic Development/Banking/Insurance/Commerce Committee in House |
