SENATE BILL NO. 16
AN ACT TO AMEND CHAPTER 17, TITLE 1B, DELAWARE CODE, RELATING TO LIMITED REPRESENTATIVES.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:
Section 1. Amend Chapter 17, Title 1B, Delaware Code, by adding thereto a new §1706 to read as follows:
§l706. Definition and Responsibilities of Limited_Rapresentative
(a) A limited representative is any individual, partnership or corporation holding a limited representative's certificate of authority and appointed by an insurer to solicit or negotiate contracts for those lines of authority, and only those lines of authority, specified in subsection (g) of §1715 of this Title which the Commissioner may deem, by regulation, essential for the transaction of insurance business in this State and which do not require that level of qualifications required for an agent's or broker's certificate of authority.
(a) A limited representative is subject to all the duties, responsibilities, liabilities, prohibitions and penalties to which agents are subject as pertains to the particular line or lines of insurance for which the limited representative holds a certificate of authority."
Section 2. Amend §1715, Chapter 17, Title 18, Delaware Code, by adding thereto a new subparagraph to be designated as subparagraph (9) and (h) to read as follows:
"(g) A limited representative may be qualified and licensed and a qualified
insurance agent may hold 1 or more of the following limited lines of authority:
(1) Vehicle liability and vehicle damage (automobile insurance) - Code No. 9.
(2) Credit life, credit health insurance - Code No. 10.
(h) Continuing education requirements prescribed by regulation of the Insurance Commissioner for limited representatives shall include only those lines for which the limited representative is certified."
Section 3. Amend §1725, Chapter 17, Title 18, Delaware Code, by adding thereto a new sentence to read as follows:
"No regulation may require additional or continuing education for limited representatives qualified and licensed under §1715(g) of this Chapter in any lines other than those for which certification has been granted."
Approved February 17, 1987.