Small Business Reading Room

Friday, January 17, 2014

The Delaware Corporate Legislation Tracker - January 17, 2014

Delaware lawmakers are back at it again for the 147th General Assembly session.

The Delaware Corporate Legislation Tracker is a free service offered by our firm, designed to keep you informed on current and pending legislation related to Delaware Corporate rules, regulations, and Delaware business matters.

Here's the latest edition:

The following Legislation affecting Title 18 - Insurance Code was acted upon by the General Assembly on 1/14/2014:

SB 154
Title: AN ACT TO AMEND TITLE 18 OF THE DELAWARE CODE RELATING TO INSURANCE INVESTMENTS, REHABILITATION AND LIQUIDATION.

Synopsis:
Many insurance companies, including Delaware-domiciled insurance companies, prudently manage a portion of their liquidity and funding needs through borrowing from an FHLBank. The proposed legislation will enable Delaware insurers to access FHLBank funding on similar collateral terms as federally insured depository institutions by harmonizing the insolvency provisions governing Delaware-domiciled insurance companies with similar provisions governing federally insured depository institutions. Without the certainty that adoption of this bill will provide, Delaware insurance companies will continue to face more stringent collateral terms in their FHLBank transactions, affecting their competitiveness and financial strength.

Bill History:

Jan 14, 2014 - Assigned to Insurance Committee in Senate

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