AN ACT TO AMEND TITLE 18, DELAWARE CODE, TO PROHIBIT THE CHARGING OF CERTAIN FEES IN CONNECTION WITH THE ISSUANCE AND CANCELLATION OF INSURANCE POLICIES AND PROVIDING CRIMINAL PENALTIES THEREFOR.
Be it enacted by the General Assembly of the State of Delaware (two-thirds of all Members elected to each House thereof concurring therein):
Section 1. Chapter 5, Title 18, Delaware Code, is amended by adding thereto a new section as follows:
§ 539. Service and processing charges by mortgagees prohibited; penalty
Any mortgagee or agent of any mortgagee who accepts or received any monetary charge or fee from a mortgagor for handling, servicing or processing insurance policies or endorsements for issuance or cancellation on property located within this State shall be fined not less than twenty-five dollars ($25.00) and not more than two hundred dollars ($200.00).
Approved October 11, 1963.