18 Del. Admin. Code § 201-5.0

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

Section 201-5.0 - Prohibitions

5.1 Effective May 7, 1975, no agency or organization not excepted in section 3.0 above, shall act as, or hold itself out to be an insurance agent, broker, surplus lines broker, limited representative, consultant, adjuster or motor vehicle damage appraiser, unless such agency or organization has been issued an Insurance Certificate of Authority by this department.

5.2 No agency or organization, unless excepted by section 3.0 above, shall make application for, procure, negotiate, arrange for settlement, or place for others insurance policies for any line or type insurance for which the agency or organization is not then licensed by this department.

5.3 No agency or organization may permit any person to conduct insurance transactions on its behalf unless such person is qualified for an appropriate insurance Certificate of Authority and is registered with the Insurance Department under that agent's license.

5.4 Unless an agency license is in effect, no insurer may pay, and no agency may accept, commissions, finder's fee, broker's fee, or other valuable consideration which proceeds from, or which may be attributed to an insurance transaction.

18 Del. Admin. Code § 201-5.0