Delaware Code Title 18 Sec. 4803 – Action by Commissioner on application
(a) Upon the filing of an application and the payment of the license fee the Commissioner shall make an investigation of each applicant and shall issue a license if the applicant is qualified in accordance with this chapter. If the Commissioner does not so find, he or she shall, within 30 days after receipt of such application, if so requested by the applicant, give the applicant a full hearing on its application.
Terms Used In Delaware Code Title 18 Sec. 4803
- Commissioner: means the Insurance Commissioner. See Delaware Code Title 18 Sec. 4801
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- State: means the State of Delaware; and when applied to different parts of the United States, it includes the District of Columbia and the several territories and possessions of the United States. See Delaware Code Title 1 Sec. 302
(b) The Commissioner shall issue or renew a license as may be applied for when the Commissioner is satisfied that the person to be licensed:
(1) Is competent and trustworthy and intends to act in good faith in the capacity required by the license applied for;
(2) Has a good business reputation and has sufficient experience, training or education to be qualified in the business represented by the license applied for;
(3) If a corporation, is a corporation incorporated under the laws of this State or is a foreign corporation authorized to transact business in this State; and
(4) Has the necessary financial resources available to enter in the business for which such person is asking to be licensed or as to which such person is requesting renewal of his or her license.