Delaware Administrative Code
Title 18 - Insurance
500 - Agents, Brokers, Solicitors, and Consultants
505 - Fiduciary Fund Requirements for Insurance Producers
Section 505-6.0 - Immediate Remittance, Separate Bank Accounts Not Required
Universal Citation: 18 DE Admin Code 505-6.0
Current through Register Vol. 28, No. 3, September 1, 2024
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.
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