CHAPTER 214
FORMERLY
HOUSE BILL NO. 272
AN ACT TO AMEND TITLE 18 OF THE DELAWARE CODE TO IMPLEMENT CODIFICATION OF INSURANCE REGULATION ACCOUNTING STANDARDS AS ADOPTED BY THE NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE :
Section 1. Amend Title 18, Chapter 11, Subchapter I, Section 1101 (2)(e) of the Delaware Code by striking the comma after the phrase “the unpaid principal”, substituting a period, and striking the balance of the sentence.
Section 2. Amend Title 18, Chapter 11, Subchapter I, Section 1101(12) of the Delaware Code by striking the comma after the phrase “title insurance business”, substituting a period, and striking the balance of the sentence.
Section 3. Amend Title 18, Chapter 11, Subchapter I, Section 1101(13) of the Delaware Code by striking said subsection in its entirety and substituting in lieu thereof:
“(13) Electronic and mechanical data processing machines and related equipment are allowed as prescribed in the NAIC Accounting Practices and Procedures Manual.”
Section 4. Amend Title 18, Chapter 11, Subchapter I, Section 1102(1) of the Delaware Code by striking said subsection in its entirety and substituting in lieu thereof:
“(1) Trade names and other like intangible assets;”
Section 5. Amend Title 18, Chapter 11, Subchapter II, Section 1110 (b) and (c) of the Delaware Code by striking subsections (b) and (c) in their entirety and by striking the subsection designation “(a)” from the initial paragraph of Section 1110.
Section 6. Amend Title 18, Chapter 13, Section 1322 of the Delaware Code by striking Section 1322 in its entirety.