CHAPTER 146

AN ACT TO AMEND CHAPTER 27, TITLE 18, DELAWARE CODE, RELATING TO TAXES AND FEES FOR INSURANCE COMPANIES, AGENTS AND BROKERS BY GRANTING THE INSURANCE COMMISSIONER THE AUTHORITY TO MAKE REFUNDS.

Section 1. Chapter 27, Title 18, Delaware Code, is amended by adding a new section to read:

§ 2714. Refund of Overpayments

(a) An insurance company, insurance agent or insurance broker, may apply to the Insurance Commissioner for refund of taxes and fees imposed by this chapter alleged to have been erroneously collected from the applicant at any time within 1 year from the date such taxes and fees were originally required to be paid or 30 days from the date of payment of any additional tax or fee.

(b) If the amount of taxes and fees found due shall be less than the amount paid, either as a result of examination of the return by the Insurance Department or by the allowance of a claim for overpayment filed by the payer, the excess shall be refunded by the State Treasurer out of General Fund of this State upon certification by the Insurance Commissioner and the approval thereof by the Budget Director.

Approved June 16, 1965.