The assets in the trust account shall be known as “trusteed assets” and shall at all times be in an amount equal to the U.S. branch’s reserves and other liabilities plus the minimum capital and surplus or authorized control level risk based capital, whichever is greater, required to be maintained by a domestic insurer licensed to do the same kind or kinds of insurance.

80 Del. Laws, c. 159, § ?1;

Terms Used In Delaware Code Title 18 Sec. 563

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
  Previous section
Next section  
 Chapter 5A Contents