18 Del. Admin. Code § 505-6.0

Current through Register Vol. 28, No. 5, November 1, 2024

Section 505-6.0 - Immediate Remittance, Separate Bank Accounts Not Required

6.1 Producers who make immediate remittance of collections to their entities need not maintain separate bank accounts for these collections.

6.2 To constitute immediate remittance, payments to entities shall be in the same form as the collection was received from the insured, with the exception of payments by the insured made in cash or with check.

6.3 To constitute immediate remittance, remittance shall occur within five business days.

18 Del. Admin. Code § 505-6.0