Delaware General Assembly


CHAPTER 347

FORMERLY

HOUSE BILL NO. 321

AN ACT TO AMEND CHAPTER 17, TITLE 18 OF THE DELAWARE CODE RELATING TO LICENSE RENEWAL PROCEDURES FOR APPOINTMENTS OF INSURANCE AGENTS AND LIMITED AND FRATERNAL INSURANCE REPRESENTATIVES.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:

Section 1. Amend Subsection (c) (3), Section 1727, Title 18 of the Delaware Code by striking said subsection in its entirety and substituting the following in lieu thereof:

(3) The licensee fails to pay annual continuation fees or fails to pay fees due in acordance with 5701 of this title."

Section 2. Amend Subsection (c), Section 1727, Title 18 of the Delaware Code by adding the following new paragraph:

"(4) One year after the termination of the last remaining insurer's appointment if licensed as an agent, limited or fraternal representative."

Section 3. Further amend Subsection (d), Section 1727, Title 18 of the Delaware Code by striking said subsection in its entirety and substituting the following in lieu thereof:

The Commissioner shall prescribe the date for and procedures to be followed in filing annual continuation requests by published bulletin or regulations."

Section 4. Amend subsection (e), Section 1727. Title 18 of the Delaware Code by striking said subsection in its entirety and substituting in lieu thereof:

Applications for annual continuation of certificates of authority filed in the form and at such time as may be provided by the Commissioner will be processed and approved by the Department. Applications filed within 30 days after the prescribed filing date will be subject to a late filing fee equal to 50% of the applicable application fees, which shall accompany the application."

Section 5. Amend Subsection (f), Section 1727, Title 18 of the Delaware Code by striking said subsection in its entirety and substituting in lieu thereof the following:

If the application for continuation of a particular license has not been submitted within thirty (30) days of the prescribed filing date, the authority conveyed by that certificate shall be suspended effective at midnight on the thirtieth day after the date established, and the licensee shall thereafter have no authority to conduct insurance transactions in this State unless and until the application is properly submitted with fees as specified in 18 Del. C. §701 and a penalty fee of fifty dollars ($50). The suspended license shall be cancelled and recalled by the Commissioner if the renewal and penalty fee has not been paid within one year of the established renewal date. After cancellation, in accordance with this provision, no new license shall be issued until the applicant has again qualified by examination as required by §1724."

Section 6. Amend Subsection 113), Section 1727, Title 18 of the Delaware Code by adding subparagraph (4) to read as follows:

"(4) Every certificate of authority holder shall notify the Commissioner of any change in residential or business address within thirty (30) days thereof. A certificate of authority may be suspended for failure to give notice of change of address hereunder."

Section 7. These amendments shall be effective six months after enactment into law.

Approved July 17, 1984.