Delaware Code Title 18 Sec. 1921 – Suspension, revocation, of broker’s license
(a) Subject to § 1712 of this title, the Commissioner may also suspend or revoke any surplus line broker‘s license:
(1) If the broker fails to file the annual statement as required by § 1924 of this title, or to remit the tax as required by § 1925 of this title; or
(2) If the broker fails to keep the records, or to allow the Commissioner to examine his or her records as required by this law; or
(3) If the broker places a surplus line coverage in an insurer other than as authorized under subchapter III of this chapter; or
(4) For violation of any provision of this chapter; or
(5) For any cause for which an insurance license could be denied, revoked, suspended or renewal refused under Chapter 17 of this title.
Terms Used In Delaware Code Title 18 Sec. 1921
- broker: as used in this chapter and unless context otherwise requires, means a surplus lines broker duly licensed as such under this chapter. See Delaware Code Title 18 Sec. 1904
- surplus lines broker: means an individual, firm, or corporation which is licensed in this State to sell, solicit, negotiate, or procure insurance in this state with nonadmitted insurers. See Delaware Code Title 18 Sec. 1904
(b) The procedures provided by Chapter 17 of this title for suspension or revocation of licenses shall apply to suspension or revocation of a surplus lines broker‘s license.
(c) Upon suspending or revoking the broker’s surplus lines license the Commissioner shall also suspend or revoke all other licenses of or as to the same individual under this title.
18 Del. C. 1953, § ?1913; 56 Del. Laws, c. 380, § ?1; 70 Del. Laws, c. 186, § ?1; 78 Del. Laws, c. 176, § ?2;