706 - Notice Requirements for Certain Delaware Banks and Trust Companies Engaging In the Business of Insurance

5 Del.C. § 121 (b)

Formerly Regulation No.: 5.761.0007.NC

Effective Date: November 1, 1990

The Bank and Trust Company Insurance Act of 1989 ( 67 Del. Laws C. 223) (the "Act") imposes certain capitalization and other requirements upon Delaware banks and trust companies engaging in the business of insurance thereunder. This regulation, promulgated pursuant to the authority of this office under 5 Del.C. § 121 (b), sets forth the information that must be provided to this office by a bank or trust company first acting as an insurer or transacting the business of insurance in accordance with the provisions of Title 18 pursuant to the authority conferred by the Act, in order to insure compliance with its provisions and other provisions of the Delaware Banking Code. The requirements set forth in this regulation are to be applied in conjunction with and not exclusive of all applicable regulations of the Delaware Insurance Commissioner.