18 Del. Admin. Code § 2001-11.0

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

Section 2001-11.0 - Filing of Premium Finance Contracts - Deviation for Specific Transactions

11.1 All forms(s) of the premium finance contract as set forth in 18 Del.C. § 4806 shall be filed with the Commissioner.

11.2 Every such filing shall be made not less than 30 days in advance of any such delivery. At the expiration of such 30 days the form so filed shall be effective unless prior thereto it has been accepted for filing or disapproved by order of the Commissioner. Filing of any such form by the Commissioner shall constitute a waiver of any unexpired portion of such waiting period. The Commissioner may extend by not more than an additional 30 days the period within which he may so affirmatively acknowledge or disapprove any such form, by giving notice to the filing party of such extension before expiration of the initial 30-day period. At the expiration of any such period as so extended, and in the absence of such prior acceptance for filing or disapproval, any such form may be placed in use. The Commissioner may at any time, after notice and for cause shown, withdraw any such filing or effectiveness.

11.3 An order of the Commissioner disapproving any such form or withdrawing a previous effectiveness shall state the grounds therefor and the particulars thereof in such detail as reasonable to inform the filing party thereof. Any such withdrawal of a previously effective form shall be operative at expiration of such period, not less than 30 days after the giving of notice of withdrawal, as the Commissioner shall in such notice prescribe.

11.4 Appeals from orders of the Commissioner disapproving any such form or withdrawing a previous effectiveness may be taken as provided in 18 Del.C. §§ 327 through 333.

11.5 Upon the written application of the licensee, stating his reasons therefor, and after having been approved and filed by the Commissioner, a contract or form deviating from that already on file with the Commissioner may be used for any specific transaction.

18 Del. Admin. Code § 2001-11.0

23 DE Reg. 129 (8/1/2019) (final)