CHAPTER 153
AN ACT TO AMEND SECTION 706, CHAPTER 7, TITLE 18, DELAWARE CODE, RELATING TO THE SPECIAL TAX ON PREMIUMS OF INSURANCE COMPANIES COVERING THE RISK OF LOSS BY FIRE, THE COLLECTION OF SAID TAX, AND THE DISTRIBUTION OF REVENUE THEREFROM.
Be it enacted by the General Assembly of the State of Delaware (three-fourths of all members elected to each House concurring therein):
Section 1. § 706, Title 18, Delaware Code, is amended by striking said section in its entirety and inserting a new § 706 to read as follows:
§ 706. Statements by the insurance companies; distribution of the proceeds of the special tax on insurance companies covering the risk of loss by fire
(a) Every insurance company covering the risk of loss by fire on any real or personal property within this State and/or on motor vehicles, aircraft (as defined by section 102 of Title 2) marine vessels, ships or boats registered or licensed in this State shall annually at the same time that such company files its annual report as required by law, deliver to the Insurance Commissioner a full detailed statement of the amount of gross premiums of all business done by such company in the City of Wilmington; in the County of New Castle, outside the City of Wilmington; in Kent County; and in Sussex County; for the year ending on the previous thirty-first day of December. The insurance company shall also state in the statement the amount of the portion of the gross premiums allocated and obtained for covering the risk of loss by fire on any real or personal property within this State or on motor vehicles, aircraft (as defined by section 102 of Title 2) marine vessels, ships or boats registered or licensed in this State by such company in the City of Wilmington; in the County of New Castle, outside the City of Wilmington; in Kent County; in Sussex County; for the year ending on the previous thirty-first day of December. If the insurance company has an undivided premium, the company shall divide the premium for the purpose of complying with this section and section 705 of this title. The statement shall be verified by the oath or affirmation of the president or vice-president and secretary or other officer, and the statement shall be on the forms prepared and furnished by the Insurance Commissioner for that purpose. The Insurance Commissioner shall have the power and authority to request and receive any information regarding any insurance company's business of covering the risk of loss by fire. Failure to give the Insurance Commissioner the requested information shall be good cause under Section 507 of this title for revocation of any Certificate of Authority of the insurance company ignoring the request.
(b) The Insurance Commissioner shall ascertain and report to the State Treasurer, on or before the fifteenth day of May of each year, the information contained in the statements and such other information as the Insurance Commissioner has obtained from the insurance companies covering the risk of loss of the type of coverage listed in Section 705 of this Title; and from such report, the State Treasurer shall ascertain proportionately, according to county divisions and the City of Wilmington, the amounts due and owing the fire companies and departments of these areas and on or before the first day of June of each year, shall pay to the treasurer of the individual fire companies and departments of the respective counties and the City of Wilmington, equal shares of the aforesaid proportioned amounts, which amounts shall be used by the fire companies and departments for the purpose of maintaining said fire companies and departments. The money realized under the provisions of this Section and Section 705 of this Title, which, under the statements is due and owing the fire companies and departments of the City of Wilmington, shall be paid to the Treasurer of the City of Wilmington and shall be applied to, and become a part of, the Firemen's Pension Fund of the Bureau of Fire of the City of Wilmington, and shall be used as directed in the by-laws and constitution of the Bureau.
(c) The money received under this Section and Section 705 of this Title shall be set aside as a special fund for assisting in maintaining the fire companies or departments in this State and shall be paid out by the State Treasurer to the treasurer of the City of Wilmington and the fire companies and departments of the respective counties for the sole purpose of assisting in maintaining the fire companies or departments in such counties in such manner and in such proportions as provided in this section.
(d) All active fire companies or departments in this State, outside of the limits of the City of Wilmington, shall register with the State Treasurer on or before the first day of April in each year on a form provided by the State Treasurer for this purpose giving their location, apparatus, and equipment maintained.
Approved June 23, 1969.