INSURANCE GUARANTY ASSOCIATION ACT
§4201. Title.
This chapter shall be known and may be cited as the Delaware Insurance
Guaranty Association Act. 18
§4202. Purpose.
This chapter shall provide a mechanism for the payment of covered claims
under certain insurance policies to avoid excessive delay in payment and to
avoid financial loss to claimants or policyholders because of the insolvency of
an insurer, to assist in the detection and prevention of insurer insolvencies
and to provide an association to assess the cost of such protection among
insurers. 18
§4203. Scope.
This chapter shall apply to all kinds of direct insurance but shall not
be applicable to the following:
(1) Life, annuity, health, and disability
insurance;
(2) Mortgage guaranty, financial guaranty, and other forms of financial
guarantees;
(3) Fidelity and surety bonds, or other bonding
obligations;
(4) Credit insurance, vendors single interest insurance, or collateral
protection insurance or any similar insurance protecting the interests of a
creditor arising out of a creditor-debtor transaction;
(5) Insurance of warranties or service contracts;
(6) Title insurance;
(7) Ocean marine insurance;
(8) Any transaction or combinations of transactions between a person
(including affiliates of such person) and an insurer (including affiliates of
such insurer) which involves the transfer of an investment or credit risk
unaccompanied by the transfer of insurance risk.
(9) Any insurance provided by or guaranteed by government. 18 Del. C.
1953, § 4203; 57 Del. Laws (1969), c. 437, approved May 20, 1970, eff. July 1,
1970; 63 Del. Laws (1981-1982), C. 395, § 1, approved by July 21, 1982; 68 Del.
Laws (1991-1992), C. 112, § 1, approved July 5, 1991.
§4204. Construction.
This chapter shall be liberally construed to effect the purpose specified
in §4202 of this title, which shall constitute an aid and guide to
interpretation. 18
§4205. Definitions.
As used in this Chapter:
(1) "Affiliate" means a person who directly or indirectly, through one or
more intermediaries, controls, is controlled by or is under common control with
an insolvent insurer on December 31 of the year next preceding the date the
insurer becomes an insolvent insurer.
(2) "Association" means the Delaware Insurance Guaranty Association
created under Section 4206 of this title.
(3) "Claimant" means any insured making a first party claim, any person
instituting a liability claim; provided that no person who is an affiliate of an
insolvent insurer may be a claimant.
(4) "Commissioner" means the Commissioner of Insurance of this
State.
(5) "Control" means the possession, direct or indirect, of the power to
direct or cause the direction of the management and policies of a person,
whether through the ownership of voting securities, by contract other than a
commercial contract for goods or nonmanagement services, or otherwise, unless
the power is the result of an official position with or corporate office held by
the person. Control shall be
presumed to exist if any person, directly or indirectly, owns, controls, holds
the power to vote, or holds proxies representing ten percent (10%) or more of
the voting securities of any other person.
This presumption may be rebutted by showing the control does not in fact
exist.
(6) a. "Covered claim" means an unpaid claim, including one for unearned
premiums, submitted by a claimant, which arises out of and is within the
coverage, and subject to the applicable limits, of an insurance policy to which
this chapter applies, issued by an insurer, if such insurer becomes an insolvent
insurer after July 5, 1991, and:
1. The
claim is a first-party claim for damage to property with a permanent location in
this state; or
2. The
claimant or insured is a resident of this state at the time of the insured
event. For entities other than individuals, for purposes of this chapter, the
state of residence of a claimant or insured shall be the state in which that
entity has a principal place of business most closely related to the claim.
b. "Covered claim" shall in
no event include:
1. Any amount awarded as punitive, bad faith or exemplary damages regardless of the language of the insurance policy invoked;
2. Any amount sought as a return of
premium under any retrospective rating plan;
3. Any amount due any reinsurer, insurer, insurance pool or underwriting association as subrogation moneys or otherwise. No such claim for any amount due any reinsurer, insurer, insurance pool or underwriting association may be asserted against a person insured under a policy issued by an insolvent insurer other than to the extent such claim exceeds the association obligation limits set forth in Section 4208 of this title.
4. Any first-party claim by an insured whose net worth exceeds $10 million on December 31 of the year next preceding the date the insurer becomes an insolvent insurer; provided that an insured's net worth on such date shall be deemed to include the aggregate net worth of the insured and all of its subsidiaries as calculated on a consolidated basis; or
5. Any first-party claim by an insured which is an affiliate of the insolvent insurer.
(7) "Insolvent insurer" means an insurer licensed to transact insurance
in this State, either at the time the policy was issued or when the insured
event occurred, and against whom an order of liquidation with a finding of
insolvency has been entered after July 5, 1991 by a court of competent
jurisdiction in the state of domicile or in this State under Chapter 59 of this title and which order
of liquidation has not been stayed or been the subject of a writ of supersedeas
or other comparable order.
(8) "Net direct written premiums" means direct gross premiums written in
this State on insurance policies to which this chapter applies, less return
premiums thereon and dividends paid or credited to policyholders on such direct
business. "Net direct written
premiums" does not include premiums on contracts between insurers or
reinsurers.
(9) "Member insurer" means any person who: (a) writes any kind of insurance to
which this Act applies under Section 4203 of this article, including the
exchange of reciprocal or inter-insurance contracts; and (b) is licensed to
transact insurance in this State.
(10) "Person" means any individual, corporation, partnership,
association, governmental entity or voluntary organization. 18 Del. C. 1953, §
4205; 57 Del. Laws (1969), c. 437, § 60, approved May 20, 1970, eff. July 1,
1970; 60 Del. Laws (1975-1976), c. 189, § 1, approved July 8, 1975; 64 Del. Laws
(1983-1984), c. 346, § 1, effective
July 17, 1984; 67 Del. Laws (1989-1990), c. 223, § 26, effective May 30, 1990;
68 Del. Laws 1991-1992, c. 112, § 2 approved July 5, 1991; 71 Del. Laws, c. 463, §§ 3-5.)
§4206. Creation of the
Association.
There is created a nonprofit unincorporated legal entity to be known as
the Delaware Insurance Guaranty Association. All insurers, defined as member insurers
in §4205(5) [1]
of this title, shall be and remain members of the Association as a condition of
their authority to transact insurance in this State. The Association shall perform its
functions under a plan of operation established and approved under §4209 of this
title and shall exercise its powers through a board of directors established
under §4207 of this title. 18
§4207. Board of Directors.
(a) The Board of Directors of the Association shall consist of not less
than 5 nor more than 9 persons serving terms as established in the plan of
operation. The members of the Board
shall be selected by member insurers subject to the approval of the
Commissioner. Vacancies of the
Board shall be filled for the remaining period of the term in the same manner as
initial appointments. If no members
are selected with 60 days after
(b) In approving selections to the Board, the Commissioner shall consider
among other things whether all member insurers are fairly
represented.
(c) Members of the Board may be reimbursed from the assets of the
Association for expenses incurred by them as members of the Board of
Directors. 18
§4208. Powers and duties of the
Association.
(a) The Association shall:
(1)
Be
obligated to pay valid covered claims existing prior to the order of liquidation
of the insolvency and arising within thirty (30) days after the order of
liquidation or before the policy expiration date if less than thirty (30) days
after the order of liquidation or before the insured replaces the policy or
causes its cancellation, if it is done within (30) days of that order of
liquidation. Such obligation shall
be satisfied by paying to the claimant an amount as follows: (i) the full amount of a covered claim
for benefits under a workers' compensation insurance policy; (ii) an amount not
exceeding $10,000 per policy for a covered claim for the return of an unearned
premium; (iii) an amount not exceeding $300,000 per claimant for all other
covered claims. In no event shall
the Association be obligated to pay a claimant an amount in excess of the
obligation of the insolvent insurer under the policy or coverage from which the
claim arises. Notwithstanding any
other provisions of this chapter, a covered claim shall not include any claim
filed with the Association after the later of: (i) 24 months after the date of
the order of liquidation or (ii) the final date set by the court for the filing
of claims against the liquidator or receiver of an insolvent insurer, provided,
however, that a "covered claim" shall include any covered claim of which notice
was given to the Association on or prior to June 30, 1991.
Notwithstanding any other provisions of this chapter, except in the case
of a claim for benefits under workers' compensation coverage, any obligation of
the association to any and all persons shall cease when $10 million shall have
been paid in the aggregate by the association and any one or more associations
similar to the Association of any other state or states or any property/casualty
security fund which obtains contributions from insurers on a pre-insolvency
basis, to or on behalf of any insured and its affiliates on covered claims or
allowed claims arising under the policy or policies of any one insolvent
insurer. For purposes of this
section, the term "affiliate" shall mean a person who directly, or indirectly,
through one or more intermediaries, controls, is controlled by or is under
common control with another person.
If the association determines that there may be more than one claimant
having a covered claim or allowed claim against the Association or any
association similar to the Association or any property/casualty insurance
security fund in other states, under the policy or policies of any one insolvent
insurer, the Association may establish a plan to allocate amounts payable by the
Association in such manner as the Association in its discretion deems
equitable.
(2) Be deemed the insurer only to the extent of its obligation on the
covered claims and, to such extent,
subject to the limitations provided in this chapter, shall have all
rights duties and obligations of the insolvent insurer as if the insurer had not
become insolvent.
(3) For the purpose of providing the funds necessary to carry out the
powers and duties of the Association, the Board of Directors shall assess the
member insurers, separately for each class, at such times and in such amounts as
the Board finds necessary.
Assessments shall be due not less than thirty (30) days after written
notice to the member insurers.
a. There shall be three classes of assessments as
follows:
1. Class A assessments shall be made for the purpose of meeting
administrative costs and other expenses and examinations conducted under the
authority of § 4213 of this title. 2. Class B
assessments shall be made annually to partially subsidize the oversight
activities of the Commissioner, thereby minimizing the need for Class C
assessments.
3. Class C assessments shall be made to the extent necessary to carry out
the powers and duties of the Association under this Chapter with regard to an
insolvent member insurer.
b. The assessments shall be determined as follows:
1. The Class A assessment will be equal in amount as to each member and
may be assessed not more often than once each year. Such assessment shall not exceed on
hundred and fifty dollars ($150.00) annually.
2. The Class B assessments shall be made annually. The Commissioner shall determine the
amount and shall so notify the Association on or before July 31st of each
calendar year in which the assessment is to be made. Class B assessments will also be equal
in amount as to each member. The
said assessments shall be paid to the Insurance Commissioner's regulatory
revolving fund. Not later than
October 31st of each said calendar year, the Commissioner shall issue a report
to the Association detailing the expenditure of those funds. Amounts not expended will remain in the
revolving fund to be used in the succeeding year.
3. Class C assessments of each member insurer shall be in the proportion
that the net direct written premiums of the member insurer for the preceding
calendar year bears to the net direct written premiums of all member insurers
for the preceding calendar year. If
the maximum assessment, together with the other assets of the Association, does
not provide in any one year, an amount sufficient to make all necessary
payments, the funds available shall be pro-rated and the unpaid portion shall be
paid as soon thereafter as funds become available. The Association may exempt or defer, in
whole or in part, the assessment of any member insurer if the assessment would
cause the member insurer's financial statement to reflect amounts of capital or
surplus less than the minimum amounts required for a Certificate of Authority by
any jurisdiction in which a member insurer is authorized to transact
insurance.
c. The amounts assessed for Class B assessment shall in no event exceed
one-tenth (1/10th) of one percent (%) of the members' premiums for the year on
which the assessment is based. The
amounts assessed for Class B and Class C assessments combined shall not result
in members being assessed a total B and C assessment amount which exceeds 2% of
the members' premiums written in the applicable year.
(4) Investigate claims brought against the Association and adjust,
compromise, settle and pay covered claims to the extent of the Association's
obligation and deny all other claims and may review settlements, releases and
judgments to which the insolvent insurer or its insureds were parties to
determine the extent to which such settlements, releases and judgments may be
properly contested.
(5) Notify such persons as the Commissioner directs under §4210(b) (1) of
this title.
(6) Handle claims through its employees or through 1 or more insurers or
other persons designated as servicing facilities. Designation of a servicing facility is
subject to the approval of the Commissioner, but such designation may be
declined by a member insurer.
(7) Reimburse each servicing facility for obligations of the Association
paid by the facility and expenses incurred by the facility while handling claims
on behalf of the Association and pay the other expenses of the Association
authorized by this chapter.
(8) Issue to each insurer paying an assessment under this chapter a
certificate of contribution, in a form prescribed by the Commissioner, for the
amount so paid. All outstanding
certificates shall be of equal dignity and priority without reference to amounts
or dates of issue. A certificate of
contribution may be shown by the insurer in its financial statement as an asset
in such form and for such amount, if any, and period of time as the Commissioner
may approve.
(9) Repealed. 68
(10) Exercise all powers and do all things authorized by this chapter
with respect to a division of a bank or trust company established pursuant to
§767(a) of Title 5 and determined to be insolvent pursuant to §4205 (4) of this
title with the same effect as if such department or division was a stock
insurer.
(b) The Association may:
(1) Employ or retain such persons as are necessary to handle claims and
perform other duties of the Association.
(2) Borrow funds necessary to effect the purposes of this chapter in
accord with the plan of operation.
(3) Sue or be sued and such power to sue includes the power and right to
intervene as a party before any court in this State that has jurisdiction over
an insolvent insurer as defined by this chapter. All actions against the Association must
be brought in this state. This
state shall have exclusive jurisdiction over all actions against the
Association;
(4) Negotiate and become a party to such contracts as are necessary to
carry out the purpose of this chapter.
(5) Perform such other acts as are necessary or proper to effectuate the
purpose of this chapter.
(6) Refund to the member insurers in proportion to the contribution of
each member insurer to the Association that amount by which the assets of the
Association exceed the liabilities if at the end of any calendar year the Board
of Directors finds that the assets of the Association exceed the liabilities for
the coming year of the Association as estimated by the Board of Directors. 18 Del. C. 1953, § 4208; 57 Del. Laws
(1969), c. 437, approved May 20, 1970, eff. July 1, 1970; 63 Del. Laws
(1981-1982), c. 395, § 2, effective July 21, 1982; 65 Del. Laws (1985-1986), c.
5, § 1 approved April 12, 1985; 67 Del. Laws (1989-1990), c. 223, § 27,
effective May 30, 1990; 68 Del. Laws (1991-1992), c. 112, §§ 3-5, approved July
5, 1991; 71 Del. Laws, c. 463, §§ 6
– 11 (1997 DE S 220).
§4209. Plan of Operation.
(a)(1) The Association shall submit to the Commissioner a plan of
operation and any amendments thereto necessary or suitable to assure the fair,
reasonable and equitable administration of the Association. The plan of operation and any amendments
thereto shall become effective upon approval in writing by the
Commissioner.
(2) If the Association fails to submit a suitable plan of operation
within 90 days following
(b) All member insurers shall comply with the plan of
operation.
(c) The plan of operation shall:
(1) Establish the procedures whereby all the powers and duties of the
Association under §4208 of this title will be performed.
(2) Establish procedures for handling assets of the
Association.
(3) Establish the amount and method of reimbursing members of the Board
of Directors under §4207 of this title.
(4) Establish procedures by which claims may be filed with the
Association and establish acceptable forms of proof of covered claims. Notice of claims to the receiver or
liquidator of the insolvent insurer shall be deemed notice to the Association or
its agent and a list of such claims shall be periodically submitted to the
Association or similar organization in another state by the receiver or
liquidator.
(5) Establish regular places and times for meetings of the Board of
Directors.
(6) Establish procedures for records to be kept of all financial
transactions of the Association, its agents, and the Board of
Directors.
(7) Provide that any member insurer aggrieved by any final action or
decision of the Association may appeal to the Commissioner within 30 days after
the action or decision.
(8) Establish the procedures whereby selections for the Board of
Directors will be submitted to the Commissioner.
(9) Contain additional provisions necessary or proper for the execution
of the powers and duties of the Association.
(d) The plan of operation may provide that any or all powers and duties
of the Association, except those under § 4208(a)(3) and (b)(2) of this title,
are delegated to a corporation, association or other organization which performs
or will perform functions similar to those of this Association, or its
equivalent, in 2 or more states.
Such a corporation, association or organization shall be reimbursed as a
servicing facility would be reimbursed and shall be paid for its performance of
any other functions of the Association.
A delegation under the subsection shall take effect only with the
approval of both the Board of Directors and the Commissioner and may be made
only to a corporation, association or organization which extends protection not
substantially less favorable and effective than that provided by this
chapter. 18
§4210. Duties and powers of the
Commissioner.
(a) The Commissioner shall:
(1) Notify the Association of the existence of an insolvent insurer not
later than 3 days after he receives notice of the determination of the
insolvency;
(2) Upon request of the Board of Directors, provide the Association with
a statement of the net direct written premiums of each member
insurer.
(b) The Commissioner may:
(1) Require that the Association notify the insureds of the insolvent
insurer and any other interested parties of the determination of insolvency and
of their rights under this chapter.
Such notification shall be by mail at their last known address, where
available, but if sufficient information for notification by mail is not
available, notice by publication in a newspaper of general circulation shall be
sufficient.
(2) Suspend or revoke, after notice and hearing, the certificate of
authority to transact insurance in this State of any member insurer which fails
to pay an assessment when due or fails to comply with the plan of
operation. As an alternative, the
Commissioner may levy a fine on any member insurer which fails to pay an
assessment when due. Such fine
shall not exceed 5% of the unpaid assessment per month, except that no fine
shall be less than $100 per month.
(3) Revoke the designation of any servicing facility if he finds claims
are being handled unsatisfactorily.
(c) Any final action or order of the Commissioner under this chapter
shall be subject to judicial review in a court of competent jurisdiction. 18
§4211. Effect of paid claims.
(a)(1) Any person recovering under this chapter shall be deemed to have
assigned the rights under the policy to the Association to the extent of the
person’s recovery from the Association.
Every insured or claimant seeking the protection of this chapter shall
cooperate with the Association to the same extent as such person would have been
required to cooperate with the insolvent insurer. The Association shall have no cause of
action against the insured of the insolvent insurer for any sums it has paid out
except such causes of action as the insolvent insurer would have had if such
sums had been paid by the insolvent insurer and except as provided in paragraph
(2) of this subsection. In the case
of an insolvent insurer operating on a plan with assessment liability, payments
of claims of the Association shall not operate to reduce the liability of the
insureds to the receiver, liquidator, or statutory successor for unpaid
assessments.
(2) The
Association shall have the right to recover from the following persons the
amount of any covered claim paid on behalf of such person pursuant to this
chapter:
a. Any insured whose net
worth on December 31 of the year immediately preceding the date the insurer
becomes an insolvent insurer exceeds $25,000,000 and whose liability obligations
to other persons are satisfied in whole or in part by payments made under this
chapter; and
b. Any person who is an
affiliate of the insolvent insurer and whose liability obligations to any other
person are satisfied in whole or in part by payment under this chapter. This paragraph (a)(2) shall not apply
retroactively and/or retrospectively and shall apply only as to insurer
insolvencies which occur on or after
(b) The receiver,
liquidator or statutory successor of an insolvent insurer shall be bound by
settlements of covered claims by the Association or a similar organization in
another state. The court having
jurisdiction shall grant such claims priority equal to that to which the
claimant would have been entitled in the absence of this chapter against the
assets of the insolvent insurer.
(c) The Association
shall periodically file with the receiver or liquidator of the insolvent insurer
statements of the covered claims paid by the Association, and estimates of
anticipated claims on the Association which shall preserve the rights of the
Association against the assets of the insolvent insurer. 18
§4212. Nonduplication of
recovery.
(a) Any person having a
claim covered under any provision in an insurance policy other than a policy of
an insolvent insurer, which is also a covered claim, shall be required to first
exhaust the rights (under)[2]
such policy. Any amount payable on
a covered claim under this chapter shall be reduced by the amount of any
recovery under such insurance policy.
(b) Any person having a
claim which may be recovered under more than 1 insurance guaranty association or
its equivalent shall seek recovery first from the association of the place of
residence of the insured, except that if it is a first party claim for damage to
property with a permanent location, he shall seek recovery first from the
association of the location of the property, and, if it is a workmen's
compensation claim, he shall seek recovery first from the association of the
residence of the claimant. Any
recovery under this chapter shall be reduced by the amount of recovery from any
other insurance guaranty association or its equivalent.
(c) Any person having a
claim or legal right of recovery under any governmental insurance or guaranty
program which is also a covered claim shall be required to exhaust the rights
under such program prior to recovery under this chapter. Any amount payable on a covered claim
under this chapter shall be reduced by the amount of any recovery under such
program. 18
§4213. Prevention of
insolvencies.
To aid in the detection and prevention of insurer
insolvencies:
(1) The Board of
Directors may, upon majority vote:
a. Make recommendations to the Commissioner for the detection and
prevention of insurer insolvencies; and
b. Respond to requests by the Commissioner to discuss and make
recommendations regarding the status of any member insurer whose financial
condition may be hazardous to policyholders or the public. Such recommendations shall not be
considered public documents.
(2) The Board of Directors may, at the conclusion of any domestic insurer
insolvency in which the Association was obligated to pay covered claims, prepare
a report on the history and causes of such insolvency, based upon the
information available to the Association and submit such report to the
Commissioner.
(3) It shall be the duty of the Commissioner to report to the board of
directors when the Commissioner has reasonable cause to believe that any member
insurer examined or being examined at the request of the board of directors may
be insolvent or in a financial condition hazardous to the policyholders or the
public.
(4) The board of directors may, upon majority vote, make reports and
recommendations to the Commissioner upon any matter germane to the solvency,
liquidation, rehabilitation or conservation of any member insurer. Such reports and recommendations shall
not be considered public documents.
(5) The board of directors may, upon majority vote, make recommendations
to the Commissioner for the detection and prevention of insurer
insolvencies.
(6) The board of directors shall, at the conclusion of any insurer
insolvency in which the Association was obligated to pay covered claims, prepare
a report on the history and causes of such insolvency, based on the information
available to the Association, and submit such report to the Commissioner. 18
§4214. Examination of the
Association.
The Association shall be subject to examination and regulation by the
Commissioner. The Board of
Directors shall submit, not later than June 30 of each year, a financial report
for the preceding calendar year in a form approved by the Commissioner. 18
§4215. Tax exemption.
The Association shall be exempt from payment of all fees and all taxes
levied by the State or any of its subdivisions, except taxes levied on real or
personal property. 18 Del.C. 1953,
§ 4215; 57 Del. Laws (1969), c. 437, approved
§4216. Recognition of assessments in
rates.
The rates and premiums charged for insurance policies to which this
chapter applies shall include amounts sufficient to recoup a sum equal to the
amounts paid to the Association by the member insurer less any amounts returned
to the member insurer by the Association, and such rates shall not be deemed
excessive because they contain an amount reasonably calculated to recoup
assessments paid by the member insurer.
18 Del.C. 1953, § 4216; 57 Del. Laws (1969), c. 437, approved
§4217. Immunity.
There shall be no liability on the part of and no cause of action of any
nature shall arise against any member insurer, the Association or its agents or
employees, the Board of Directors or the Commissioner or the Commissioner’s
representatives for any action or any failure to act taken by them in the
performance of their powers and duties under this chapter. Neither shall the Association, its
officers, agents and employees be subject to any claim for damages for bad
faith. 18
§4218. Stay of proceedings; reopening of
default judgments.
All proceedings in which the insolvent insurer is a party or is obligated
to defend a party in any court in this State, shall be stayed for one hundred
and twenty (120) days from the date the insolvency is determined, and for such
time thereafter as may be determined by the court, to permit a proper defense by
the Association of all pending causes of actions. As to any covered claims arising from a
judgment under any decision, verdict or finding based on the default of the
insolvent insurer or its failure to defend an insured, the Association, either
on its own behalf or on behalf of such insured, may apply to have such judgment,
order, decision, verdict or finding set aside by the same court or administrator
that made such judgment, order, decision, verdict or finding and shall be
permitted to defend against such claim on the merits. 18
§4219. Recoupment of
assessment.
(a) Unless a longer period has been allowed by the Commissioner, a member
insurer shall at its option have the right to show a certificate of contribution
as an asset in the form approved by the Commissioner at percentages of the
original face amount approved by the Commissioner, for calendar years as
follows:
(1) One hundred percent for
the calendar year of issuance;
(2) Eighty percent for
the first calendar year after the year of issuance;
(3) Sixty percent for
the second calendar year after the year of issuance;
(4) Forty percent for
the third calendar year after the year of issuance;
(5) Twenty percent for
the fourth calendar year after the year of issuance.
(b) The insurer may
offset the amount written off by it in a calendar year under subsection (a)
above, against its premium tax liability to this State accrued with respect to
business transacted in such year.
(c) Any sums acquired
by refund from the Association which have theretofore been written off by
contributing insurers and offset against premium taxes as provided above, and
are not then needed for purposes of this chapter, shall be paid by the
Association to the Commissioner and deposited by the Commissioner with the State
Treasury for credit to the General Fund of this State.
(d) To the extent
amounts have been written off under subsection (c) above, § 4216 of this title
shall not apply. Added by 63 Del.
Laws (1981-1982), c. 395, § 3, effective
§4220. Repealed. 64
§4221. Repealed. 68
§
4223 Applicability of
provisions.
Unless otherwise provided by this chapter, 68 Del. Laws, c. 112 shall
apply retroactively and/or retrospectively to all incomplete matters having
arisen or arising under the Delaware Insurance Guaranty Association Act (18 Del.
C. § 4201 et seq.). (68