Delaware Administrative Code
Title 18 - Insurance
500 - Agents, Brokers, Solicitors, and Consultants
503 - Licensing Procedure for Limited Representatives for Fixed or Guaranteed Annuities [Formerly Regulation 35]
Section 503-3.0 - License Qualification

Universal Citation: 18 DE Admin Code 503-3.0

Current through Register Vol. 28, No. 3, September 1, 2024

3.1 Each applicant for license as a limited representative for the line of fixed or guaranteed annuity, whether as an individual or as a registered member of a licensed firm, shall meet the requirements of 18 Del.C. § 1720 except that:

3.1.1 the applicant shall not be required to satisfy 18 Del.C. § 1720 (a)(3) (principal occupation, insurance, fifty percent of income from insurance).

3.1.2 18 Del.C. § 1720 (a)(4) (written examination) shall not apply.

3.2 Each applicant shall have demonstrated his qualification for license by successfully completing the National Association of Security Dealers (NASD) examination and shall include as a part of the application evidence of such successful completion. No license shall be issued unless this criterion is fulfilled.

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