2017 Delaware Code
Title 18 - Insurance Code
CHAPTER 48. INSURANCE PREMIUM FINANCING
§ 4803. Action by Commissioner on application.
(a) Upon the filing of an application and the payment of the license fee the Commissioner shall make an investigation of each applicant and shall issue a license if the applicant is qualified in accordance with this chapter. If the Commissioner does not so find, he or she shall, within 30 days after receipt of such application, if so requested by the applicant, give the applicant a full hearing on its application.
(b) The Commissioner shall issue or renew a license as may be applied for when the Commissioner is satisfied that the person to be licensed:
(1) Is competent and trustworthy and intends to act in good faith in the capacity required by the license applied for;
(2) Has a good business reputation and has sufficient experience, training or education to be qualified in the business represented by the license applied for;
(3) If a corporation, is a corporation incorporated under the laws of this State or is a foreign corporation authorized to transact business in this State; and
(4) Has the necessary financial resources available to enter in the business for which such person is asking to be licensed or as to which such person is requesting renewal of his or her license.
60 Del. Laws, c. 406, § 1; 70 Del. Laws, c. 186, § 1.;
