Jurisdictional Updates 6-1-2023

Jurisdictional Updates 6-1-2023

Delaware – Insurer Requirements Updated

House Bill 47 (Chapter 34) signed by the governor and effective May 25 increases capital and surplus requirements for insurers. View full update here.

House Bill 48 (Chapter 35) signed by the governor and effective May 25 expands record retention requirements for licensed producers, adjusters and appraisers.  View full update here.

Montana – Foreign Businesses Now Include Federally Recognized Indian Tribes

House Bill 477 (Chapter 568) signed by the governor and effective May 18 relates to recognition of foreign business entities to include those formed under laws of a federally recognized Indian Tribe. View full update here.

South Carolina – Bill Creates State Contractor Licensing Board

House Bill 4115 (Act 69) signed by the governor and effective May 19 creates a state contractor licensing board. View full update here.

West Virginia – Legislation Enacts Private Trust Company Act

House Bill 3272 signed by the governor March 7 and effective May 23 (90 days from passage) enacted the Private Trust Company Act providing for licensing by the State Auditor. View full update here.