AN ACT TO AMEND CHAPTER 21 AND CHAPTER 29 RELATING TO INSURANCE AGENTS AND BROKERS AND SURETYSHIP.
Be it enacted by the General Assembly of the State of Delaware:
Section 1. Section 2101 (f), Title 18, Delaware Code, is amended by adding a new sub-paragraph numbered 4 and 5 as follows:
(4) An applicant for a fire and casualty license who has qualified for designation as a Chartered Property Casualty Underwriter;
(5) An applicant for a life, health and accident license who has qualified as a Chartered Life Underwriter.
Section 2. Section 2102 (a), Title 18, Delaware Code, is hereby amended to read as follows:
(a) Before issuing any Certificate of Authority to an insurance agent or insurance broker, the Commissioner shall be satisfied that such proposed insurance agent or insurance broker is properly qualified and equipped to carry on such business.
Section 3. Section 2106, Title 18, Delaware Code, is hereby amended to read as follows:
§ 2106. Non-resident brokers and agents
Insurance brokers and insurance agents of any other state shall be permitted to solicit, negotiate and effect contracts of insurance within this State in companies authorized to do business in this State. This section shall not be construed to authorize such brokers or agents to transact any business in this State which could not be transacted by an insurance broker or agent of this State.
Section 4. Section 2904, Title 18, Delaware Code, is hereby amended to read as follows:
§ 2904. Execution of obligation by agent and payment of premiums
Every bond, undertaking, obligation, recognizance or guarantee of a company qualified to act as a surety or guarantor, shall be executed on behalf of the surety company, by its regularly authorized officials and its regularly authorized agent in that behalf. All premiums due to said surety company shall be subject to any and all taxes levied upon such premiums under the laws of this State.
Approved June 23, 1961.