AN ACT TO AMEND TITLE 18 OF THE DELAWARE CODE RELATING TO CAPTIVE INSURANCE.
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HB 334 — AN ACT TO AMEND TITLE 18 OF THE DELAWARE CODE RELATING TO CAPTIVE INSURANCE.
Last action — Signed by Governor
No card. One bill, free forever — alerts when it moves.
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✓Introduced
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✓In Committee
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✓Passed House
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✓Passed Senate
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✓To Executive
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6Enacted
This bill has been enacted into law. Introduced March 13, 2018. Enacted.
Prognosis
Where this bill stands today.
Odds of enactment
HighHow often bills like it became law.
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Enacted
Current position in the legislative process.
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4 sponsors
2 primary, 2 co-sponsors signed on.
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Bipartisan support
Sponsored across 2 parties (1 D · 1 R) — cross-party backing.
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Cleared a recorded vote
Passed 2 recorded votes so far.
Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.
Summary
This Act authorizes the Insurance Commissioner to issue conditional certificates of authority to captive insurance company applicants, which authorizes the captive insurance company applicant to conduct business while the Insurance Commissioner completes the review of the application materials. Conditional certificates of authority will be issued only upon receipt of evidence of the minimum capital and surplus required by Chapter 69 and a certification from the captive owner that the application materials comply with the requirements of Chapter 69. A captive insurance company granted a conditional certificate of authority must pay the Insurance Commissioner a fee of $100. This Act also authorizes the Insurance Commissioner to summarily revoke a conditional certificate of authority if the Commissioner determines that the captive insurance company has failed to comply with the licensing requirements of Chapter 69. During the period of the conditional certificate of authority, the captive insurance company shall comply with and be subject to Chapter 69. This Act also makes technical corrections to conform existing law to the standards of the Delaware Legislative Drafting Manual.
Bill Text
- Bill Text View text Current pdf
AI-generated reading aid from the bill's amendatory text — verify against the official bill.
This Act allows the Insurance Commissioner to issue conditional certificates of authority to captive insurance companies, permitting them to operate while their applications are reviewed.
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§ 6903
from the Commissioner is authorized by the Commissioner→ from the CommissionerClarifies that no business can be conducted without the Commissioner's authorization.
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§ 6903(b)(1)(a)
a A certificate of authority→ A certificate of authorityCorrects capitalization for consistency in legal text.
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§ 6903(d)(1)
investigating investigating, and processing its application for a certificate of authority, authority.→ investigating, and processing its application for a certificate of authority.Removes redundant wording for clarity.
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§ 6903(d)(2)
The Commissioner is authorized to The Commissioner may retain legal, financial and examination services services, and other expert services→ The Commissioner may retain legal, financial and examination services and other expert servicesImproves the flow and correctness of the sentence.
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§ 6903(d)(4)
In addition to any other fee imposed or cost assessed under this section, each captive insurance company shall pay a nonrefundable license fee for the year of registration and a nonrefundable renewal fee for each year thereafter of $400.→ In addition to any other fee imposed or cost assessed under this section, each captive insurance company shall pay a nonrefundable license fee for the year of registration and a nonrefundable renewal fee for each year thereafter of $400.Clarifies fee structure for renewal.
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§ 6903(g)(5)
must pay the Commissioner a fee of $100.
Establishes a $100 fee for captive insurance companies applying for a conditional certificate of authority.
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§ 6903(g)(2)
the Commissioner may summarily revoke a conditional certificate of authority without legal recourse by the captive insurance company if one of the following applies:→ The Commissioner may summarily revoke a conditional certificate of authority if one of the following applies:Removes 'without legal recourse' to clarify the conditions under which revocation can occur.
Action History
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Signed by Governor
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Passed By Senate. Votes: 20 YES 1 ABSENT
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Reported Out of Committee (Banking, Business & Insurance) in Senate with 3 On Its Merits
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Assigned to Banking, Business & Insurance Committee in Senate
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Passed By House. Votes: 40 YES 1 NOT VOTING
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Reported Out of Committee (Economic Development/Banking/Insurance/Commerce) in House with 8 On Its Merits
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Introduced and Assigned to Economic Development/Banking/Insurance/Commerce Committee in House
Sponsors
- Trey Paradee · Primary
- Jeffrey N. Spiegelman · Cosponsor
- Bruce C. Ennis · Cosponsor
- Brian J. Bushweller · Primary
Sponsorship breakdown
Export CSV (upgrade) →2 sponsors · 2 co-sponsors · 58 not signed on
Sponsors (2)
- Trey Paradee Democratic
- Brian J. Bushweller
Co-sponsors (2)
- Jeffrey N. Spiegelman Republican
- Bruce C. Ennis
Not signed on (58)
58 members have not signed on to this bill.
Show all 58 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Votes
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 11 | 0 | 0 | 1 |
| Democratic | 5 | 0 | 0 | 0 |
| Republican | 4 | 0 | 0 | 0 |
| Total | 20 | 0 | 0 | 1 |
| % of votes cast | 95% | 0% | 0% | 5% |
How each member voted (21)
| Member | Party | Vote |
|---|---|---|
| Anthony Delcollo | — | Yea |
| Brian J. Bushweller | — | Yea |
| Bruce C. Ennis | — | Yea |
| Catherine Cloutier | — | Not Voting |
| Colin Bonini | — | Yea |
| David B. McBride | — | Yea |
| Ernesto B Lopez | — | Yea |
| F. Gary Simpson | — | Yea |
| Gregory F. Lavelle | — | Yea |
| Harris B. McDowell | — | Yea |
| Margaret Rose Henry | — | Yea |
| Robert Marshall | — | Yea |
| Bryan Townsend | Democratic | Yea |
| David P. Sokola | Democratic | Yea |
| John "Jack" Walsh | Democratic | Yea |
| Nicole Poore | Democratic | Yea |
| Stephanie L. Hansen | Democratic | Yea |
| Brian Pettyjohn | Republican | Yea |
| Bryant L. Richardson | Republican | Yea |
| Dave G. Lawson | Republican | Yea |
| Gerald W. Hocker | Republican | Yea |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 24 | 0 | 0 | 1 |
| Democratic | 7 | 0 | 0 | 0 |
| Republican | 9 | 0 | 0 | 0 |
| Total | 40 | 0 | 0 | 1 |
| % of votes cast | 98% | 0% | 0% | 2% |
How each member voted (41)
Subjects
Frequently asked questions
- What does HB 334 do?
- This Act authorizes the Insurance Commissioner to issue conditional certificates of authority to captive insurance company applicants, which authorizes the captive insurance company applicant to conduct business while the Insurance Commissioner completes the review of the application materials. Conditional certificates of authority will be issued only upon receipt of evidence of the minimum capital and surplus required by Chapter 69 and a certification from the captive owner that the application materials comply with the requirements of Chapter 69. A captive insurance company granted a conditional certificate of authority must pay the Insurance Commissioner a fee of $100. This Act also authorizes the Insurance Commissioner to summarily revoke a conditional certificate of authority if the Commissioner determines that the captive insurance company has failed to comply with the licensing requirements of Chapter 69. During the period of the conditional certificate of authority, the captive insurance company shall comply with and be subject to Chapter 69. This Act also makes technical corrections to conform existing law to the standards of the Delaware Legislative Drafting Manual.
- Who sponsors HB 334?
- HB 334 is sponsored by Trey Paradee (Democratic), Jeffrey N. Spiegelman (Republican), Bruce C. Ennis, and Brian J. Bushweller.
- What is the current status of HB 334?
- This bill has been enacted into law. Introduced March 13, 2018. Enacted.
- Where can I track HB 334?
- Track HB 334 free on One Click Politics — get push/email alerts when it moves.
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