DE HB168

Allows insurance companies to invest in mortgages secured by long-term leaseholds in jurisdictions approved by the Delaware Department of Insurance Commissioner.

Requires that the maturity date of leasehold mortgage loans occur no later than 40 years before the leasehold termination date and maintains a loan-to-value ratio not exceeding 70%.

Subjects leasehold mortgage investments acquired under this provision to applicable limitations of Delaware Code § 1321.

Authorizes the Commissioner to grant investment authority on a case-by-case basis for leasehold mortgage investments in any jurisdiction meeting the subsection requirements after thorough review.

Aligns Delaware with 33 other states including Maryland, New Jersey, and New York that have similar leasehold mortgage investment statutes, with the United Kingdom intended as the first approved jurisdiction.