DE SB146

Amends Title 29 §531(1)c. to require approval of substantial changes to a not-for-profit healthcare entity's certificate of incorporation that materially affect charitable intent or disposition of reserves or control.

Creates new Title 18 §6310 establishing reserve and surplus preservation requirements when a health service corporation undergoes a change of control.

Requires Insurance Commissioner approval of control changes and mandates conditions including Department of Insurance review of bylaw changes and expenditures exceeding $500,000 to controlling entities.

Mandates that a majority of the health service corporation's board consist of Delaware residents not employed by the corporation or affiliates, with at least five years prior Delaware residency.

Requires dissolution assets be distributed to the foundation created under Title 29 §2533, and applies to all transactions closing on or after the effective date.