AN ACT TO AMEND TITLE 18 OF THE DELAWARE CODE RELATING TO MERGERS OR CONSOLIDATION OF INSURERS.

This bill requires that the Commissioner’s retention of any outside attorneys, actuaries, accountants, and other experts in the review of any application for merger or consolidation of a domestic insurer be at the expense of the party applying for such merger or consolidation. This bill aligns the payment of the Commissioner’s expenses for mergers and consolidations with other acquisitions under Chapter 50 of Title 18 of the Delaware Code. This bill also makes technical changes to conform to the requirements of the Delaware Legislative Drafting Manual.