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SB354 • 2025

AN ACT TO AMEND TITLE 18 OF THE DELAWARE CODE RELATING TO INSURANCE AND FINANCIAL INTERMEDIARIES

AN ACT TO AMEND TITLE 18 OF THE DELAWARE CODE RELATING TO INSURANCE AND FINANCIAL INTERMEDIARIES

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor
Last action
2026-06-30
Official status
Effective date
Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

AN ACT TO AMEND TITLE 18 OF THE DELAWARE CODE RELATING TO INSURANCE AND FINANCIAL INTERMEDIARIES

AN ACT TO AMEND TITLE 18 OF THE DELAWARE CODE RELATING TO INSURANCE AND FINANCIAL INTERMEDIARIES This Act clarifies that a securities intermediary or bank acting solely in an administrative, trustee or custodial capacity shall not incur liability for receipt of policy proceeds.

What This Bill Does

  • AN ACT TO AMEND TITLE 18 OF THE DELAWARE CODE RELATING TO INSURANCE AND FINANCIAL INTERMEDIARIES This Act clarifies that a securities intermediary or bank acting solely in an administrative, trustee or custodial capacity shall not incur liability for receipt of policy proceeds.
  • This Act also preserves recovery rights against investors and applies only to actions brought on or after the date of enactment of this Act into law.

Limits and Unknowns

  • This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

No action history is stored for this bill yet.

Official Summary Text

AN ACT TO AMEND TITLE 18 OF THE DELAWARE CODE RELATING TO INSURANCE AND FINANCIAL INTERMEDIARIES
This Act clarifies that a securities intermediary or bank acting solely in an administrative, trustee or custodial capacity shall not incur liability for receipt of policy proceeds. This Act also preserves recovery rights against investors and applies only to actions brought on or after the date of enactment of this Act into law.