Delaware Administrative Code
Title 5 - Banking
2900 - Financing the Sale of Motor Vehicles
2901 - Motor Vehicle Sales Finance Companies Operating Regulations
Section 2901-10.0 - Examination Fees and Supervisory Assessments

Universal Citation: 5 DE Admin Code 2901-10.0

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

10.1 The Commissioner may examine licensees pursuant to 5 Del.C. §§ 122 and 2906. The cost of such examinations are assessed in accordance with 5 Del.C. § 127 (a). A licensee shall remit payment not later than 30 days after the date of the examination invoice.

10.2 The Commissioner shall assess each licensee a supervisory assessment fee, which is due and payable on August 1 of each year, in accordance with 5 Del.C. § 127 (b).

10.3 Failure to remit timely payment of any examination fee or supervisory assessment will result in a penalty of 0.05 percent of the amount unpaid for each day that such fee or assessment remains unpaid after the due date, in accordance with 5 Del.C. § 127 (a) and (b).

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