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Delaware General AssemblyDelaware RegulationsMonthly Register of RegulationsFebruary 2014

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(5 Del.C. §§121(b), 2112, 2210(e), and 2906(e); 29 Del.C. §10113(a))
5 DE Admin.Code 2101, 2102, 2103, 2104, 2105, 2106, 2201, 2202, 2203, 2204, 2205, 2206, 2901, 2902, 2903, and 2904
The State Bank Commissioner proposes to amend 16 Regulations adopted in accordance with Title 5, Chapter 21 (Mortgage Loan Brokers), Chapter 22 (Licensed Lenders) and Chapter 29 (Financing the Sale of Motor Vehicles). Regarding Title 5, Chapter 21 (Mortgage Loan Brokers), the proposed amended Regulations are 2101 (Operating Regulation), 2102 (Minimum Records), 2103 (Schedule of Charges), 2104 (Minimum Disclosure and Agreement Requirements), 2105 (Report of Delaware Loan Volume), and 2106 (Report of Delaware Assets). Regarding Title 5, Chapter 22 (Licensed Lenders), the proposed amended Regulations are 2201 (Operating Regulation), 2202 (Minimum Records), 2203 (Schedule of Charges), 2204 (Surety Bond or Irrevocable Letter of Credit), 2205 (Report of Delaware Loan Volume), and 2206 (Report of Delaware Assets). Regarding Title 5, Chapter 29 (Financing the Sale of Motor Vehicles), the proposed amended Regulations are 2901 (Operating Regulation), 2902 (Minimum Records), 2903 (Report of Delaware Loan Volume), and 2904 (Report of Delaware Assets). The purpose of the amended regulations is to clarify, streamline, and update the existing regulations for ease of understanding and increased relevance to current licensee operations. Other regulations issued by the State Bank Commissioner are not affected by this proposal. The State Bank Commissioner is issuing these proposed regulations in accordance with Title 5 of the Delaware Code. This notice is issued pursuant to the requirements of Subchapter III of Chapter 11 and Chapter 101 of Title 29 of the Delaware Code.
A copy of the proposed regulations is being published in the February 1, 2014 edition of the Delaware Register of Regulations. A copy is also on file in the Office of the State Bank Commissioner, 555 E. Loockerman Street, Suite 210, Dover, DE 19901 and is available for inspection during regular office hours. Copies are available upon request.
5 Del.C. §2102(b) and §2112
1.1 Chapter 21 of Title 5 of the Delaware Code governs persons who broker extensions of credit secured by a first or second mortgage on any one-to-four family residential owner-occupied property intended for personal, family, or household purposes. Chapter 21 of Title 5 of the Delaware Code does not apply to the brokering of commercial mortgage loans, including a first or second mortgage on any income producing property that does not fall into the aforementioned definition.
2.1 All licensees shall conduct business in compliance with Chapter 21 of Title 5 of the Delaware Code, and all regulations issued thereunder. Each office licensed under Chapter 21 of Title 5 of the Delaware Code shall maintain copies of all applicable regulations. These regulations include:
3.1 Mortgage Loan Broker licensees are subject to examination pursuant to §2110 of Title 5 of the Delaware Code. The costs of such examinations are assessed to the licensees in accordance with §127(a) of Title 5 of the Delaware Code. A licensee shall remit payment not later than 30 days after the date of the invoice for the fees for examination. In addition, the Commissioner assesses annually each licensee a supervisory assessment, due and payable on August 1 each year, as provided in §127(b) of Title 5 of the Delaware Code. Failure of a licensee to remit timely payment of the examination fee or supervisory assessment will result in a penalty of 0.05 percent for each day that the examination fee or supervisory assessment shall remain unpaid after the due date, as provided in §127(a) and §127(b) of Title 5 of the Delaware Code.
5 Del.C. §2111(a)
5 Del.C. §2115
5 Del.C. §2113
5 Del.C. Ch. 21
This report shall be completed by all institutions licensed under Chapter 21, Title 5 of the Delaware Code and submitted to the Office of the State Bank Commissioner twice each year. The first report is due on or before July 31 and must contain figures from January 1 through June 30 of the current year. The second report is due on or before January 31 and must contain figures from January 1 through December 31 of the previous year. In the event that you fail to provide this information in the period requested, you will be in violation of this regulation. Additionally, an examination will be scheduled, and staff allocated, without respect to the volume of your Delaware business. This may result in additional examination costs to you.
2105A.pdf Report of Delaware Loan Volume
This report shall be completed annually by all institutions licensed under Chapters 21, 22, and 29, Title 5 of the Delaware Code. This report must be received by the Office of the State Bank Commissioner no later than April 1st of each year. The figure reported should reflect DELAWARE assets only (including the value of any Delaware loans or contracts in your portfolio, any funds deposited in Delaware, and any fixed assets located in Delaware or any other assets allocated to the Delaware operations).
2106A.pdf Report of Delaware Assets
5 Del.C. §2210(d)
1.1 Chapter 22 of Title 5 of the Delaware Code applies to consumer credit transactions, including, but not limited to, mortgage lending secured by one to four family residential, owner-occupied property intended for personal, family or household purposes.
2.1 All licensees shall conduct business in compliance with Chapter 22 of Title 5 of the Delaware Code. Each office licensed under Chapter 22 of Title 5 of the Delaware Code shall possess copies of all applicable regulations. These regulations include:
3.1 Licensed Lenders licensees are subject to examination pursuant to §2210 of Title 5 of the Delaware Code. The costs of such examinations are assessed to the licensees in accordance with §127(a) of Title 5 of the Delaware Code. A licensee shall remit payment not later than 30 days after the date of the invoice for the examination. In addition, the Commissioner annually assesses each licensee a supervisory assessment, due and payable on August 1 each year, as provided in §127(b) of Title 5 of the Delaware Code. Failure of a licensee to remit timely payment of this examination fee or supervisory assessment will result in a penalty of 0.05 percent for each day that the examination fee or supervisory assessment shall remain unpaid after the due date, as provided in §127(a) and §127(b) of Title 5 of the Delaware Code.
4.1 A licensee shall cause an entry of the satisfaction or performance of a debt or duty secured by a mortgage or conveyance in the nature of a mortgage on real estate to be made as required by Chapter 21 of Title 25 of the Delaware Code. A licensee shall take the necessary action(s) to discharge or release any other security interest for loans under Chapter 22 of Title 5 of the Delaware Code within sixty days from the date the debt secured by such other collateral or security interest is satisfied or performed. Failure of a licensee to take such action within the period prescribed will be a violation of this regulation.
9.1 A licensee shall not sell or otherwise transfer contracts to any person or corporation not licensed under Chapter 22 of Title 5 of the Delaware Code, except at the discretion of the State Bank Commissioner.
10.1 Solely for the purposes of the loan limitation provisions contained in the last sentence of Section 2228(a) of Title 5 of the Delaware Code, the term “loans” shall not be deemed to include loans secured by mortgages on real property located in this state (or secured by certificates of stock or other evidence of ownership interest in, and proprietary leases from corporations or partnerships formed for the purpose of cooperative ownership of real estate in this State) if such loans are originated by a licensee for resale and the licensee in fact sells, assigns or otherwise conveys its entire interest in the loan (except servicing if servicing is retained) within 120 days following the date the loan is made. Additional time may be granted at the discretion of the State Bank Commissioner.
5 Del.C. §2213
7.0 In the event a loan is sold and no servicing performed, only those items listed in item 6.0 available prior to such sale shall be required.
5 Del.C. §2218(5) and §2231(3)
2.2 If the agreement governing the revolving credit plan or closed end loan so provides, the periodic percentage rate or rates of interest may vary in accordance with a schedule or formula. Such periodic percentage rate or rates may vary from time to time as the rate determined in accordance with such schedule or formula varies and such periodic percentage rate or rates, as so varied, may be made applicable to all or any part of the outstanding unpaid indebtedness or outstanding unpaid amounts. In the case of revolving credit, such rate shall become applicable on or after the first day of the billing cycle that contains the effective date of such variation. In the case of closed end loan transactions, such rate may be made applicable to all or any part of the outstanding unpaid amounts on and after the effective date of such variation. Without limitation, a permissible schedule or formula hereunder may include provisions in the agreement governing the revolving credit plan or closed end loan agreement for a change in the periodic percentage rate or rates of interest applicable to all or any part of outstanding unpaid indebtedness or outstanding unpaid amounts, whether by variation of the then applicable periodic percentage rate or rates of interest, variation of an index or margin or otherwise, contingent upon the happening of any event or circumstance specified in the plan or agreement, which event or circumstance may include the failure of the borrower to perform in accordance with the terms of the revolving credit plan or loan agreement.
If the agreement governing the plan or loan so provides, in addition to, or in lieu of, interest at a periodic percentage rate or rates permitted by Chapter 22, Title 5 of the Delaware Code, the licensee may charge and collect the following fees and charges, subject to the limitations provided below, in respect to revolving credit plans or closed end loans:
1.0 A licensee shall file with the State Bank Commissioner (the “Commissioner”) an original corporate surety bond or an irrevocable letter of credit, in a form satisfactory to the Commissioner, in accordance with Section 2208 of Title 5 of the Delaware Code (“Section 2208”). The minimum amount of the surety bond or irrevocable letter of credit is based on the factors identified in Section 2208.
2.0 A licensee shall obtain a surety bond or irrevocable letter of credit in an amount that correlates with the licensee’s volume of Delaware lending for the year ending December 31 that precedes the effective year of the license under Chapter 22 of Title 5 of the Delaware Code. A licensee who obtains a surety bond that is effective for more than one year or an irrevocable letter of credit shall annually review the amount of the surety bond or irrevocable letter of credit, as of December 31 of each year, to ensure that the minimum required amount is maintained. The minimum required amount of the surety bond or irrevocable letter of credit is according to the following table:
5 Del.C. Ch. 22
This report shall be completed by all institutions licensed under Chapter 22, Title 5 of the Delaware Code and submitted to the Office of the State Bank Commissioner twice each year. The first report is due on or before July 31 and must contain figures from January 1 through June 30 of the current year. The second report is due on or before January 31 and must contain figures from January 1 through December 31 of the previous year. In the event that you fail to provide this information in the period requested, you will be in violation of this regulation. Additionally, an examination will be scheduled, and staff allocated, without respect to the volume of your Delaware business. This may result in additional examination costs to you.
This report shall be completed annually by all institutions licensed under Chapters 21, 22, and 29, Title 5 of the Delaware Code. This report must be received by the Office of the State Bank Commissioner no later than April 1st of each year. The figure reported should reflect DELAWARE assets only (including the value of any Delaware loans or contracts in your portfolio, any funds deposited in Delaware, and any fixed assets located in Delaware or any other assets allocated to the Delaware operations).
4. Total DELAWARE assets as of December 31st of the immediately previous year:
5 Del.C. §122(b), §2906(e)
1.0 Each licensed office shall establish and maintain the following books and records, on a current basis, either at the office of the licensed broker, or, at a suitable location available within a reasonable time period, upon request. Written approval may be granted for variations which accommodate individual accounting systems, including automated and electronic record processing systems, provided the objectives of this regulation are fulfilled. Requests for such approvals must be in writing and shall provide adequate information about the system as to ensure that the minimum record requirements are satisfied and provide the required data on a current and readily available basis to examiners, when requested.
5 Del.C. §2906(e)
1.1.1 A lease contract is governed by Chapter 29 of Title 5 of the Delaware Code, when all of the following exist:
1.1.2 A lease contract is not governed by Chapter 29 of Title 5 of the Delaware Code, when any one of the contract provisions described in 1.1.1, 1.1.1.1, 1.1.1.2, and 1.1.1.3 is absent.
1.2 For the purposes of Chapter 29 of Title 5 of the Delaware Code, all ‘motor vehicles’ which meet the definition contained in 5 Del.C. §2901(1), regardless of whether the intended use is commercial or personal, fall under the auspices of this chapter.
1.3 If a trade-in is involved in a credit sale transaction and the amount of the existing lien exceeds the value of the trade-in, inclusion of the negative equity financing is permissible under Chapter 29, Title 5 of the Delaware Code. In a negative equity trade-in transaction where no cash payment is involved licensees must disclose a zero down payment and under no circumstances should the negative equity be disclosed as a negative number as the consumer’s down payment. Any negative equity to be financed under the retail installment sale contract should be disclosed under the provisions of §2907(e)(4) and not §2907(e)(2) of Title 5 of the Delaware Code.
2.1 All licensees shall conduct business in compliance with Chapter 29 of Title 5 of the Delaware Code, and any regulations issued thereunder. Each office licensed under Chapter 29 of Title 5 of the Delaware Code shall possess copies of all applicable regulations. These regulations include:
3.1 Motor Vehicle Sales Finance Companies licensees shall be subject to examination pursuant to §122 of Title 5 of the Delaware Code. The cost of such examinations shall be assessed to the licensee in accordance with 5 Del.C. §127(a). A licensee shall remit payment not later than 30 days after the date of the invoice for the fees for the examination. In addition, the Commissioner shall assess annually each licensee a supervisory assessment fee, due and payable on August 1 of each year, as provided in 5 Del.C. §127(b). Failure of a licensee to remit timely payment of the examination fee or supervisory assessment will result in a penalty of 0.05 percent for each day that the examination fee or supervisory assessment shall remain unpaid after the due date, as provided in §127(a) and §127(b) of Title 5 of the Delaware Code.
5 Del.C. Ch. 29
1.0 This report shall be completed by all institutions licensed under Chapter 29, Title 5 of the Delaware Code and submitted to the Office of the State Bank Commissioner twice each year. The first report is due on or before July 31 and must contain figures from January 1 through June 30 of the current year. The second report is due on or before January 31 and must contain figures from January 1 through December 31 of the previous year. In the event that you fail to provide this information in the period requested, you will be in violation of this regulation. Additionally, an examination will be scheduled, and staff allocated, without respect to the volume of your Delaware business. This may result in additional examination costs to you.
3 DE Reg. 653 (11/01/99)
1.0 This report shall be completed annually by all institutions licensed under Chapters 21, 22, and 29, Title 5 of the Delaware Code. This report must be received by the Office of the State Bank Commissioner no later than April 1st of each year. The figure reported should reflect DELAWARE assets only (including the value of any Delaware loans or contracts in your portfolio, any funds deposited in Delaware, and any fixed assets located in Delaware or any other assets allocated to the Delaware operations).
4. Total DELAWARE assets as of December 31st of the immediately previous year:
5 Del.C. §§2102(b) and 2112
1.1 5 Del.C. Ch. 21 applies only to extensions of credit secured by one to four family residential owner-occupied property located in this State intended for personal, family, or household purposes.
1.2 5 Del.C. Ch. 21 does not apply to:
2.1 All licensees shall comply with 5 Del.C. Ch. 21, all regulations issued thereunder, and all other applicable State and federal statutes and regulations.
5.1 Each licensee shall insure that every person who it employs, or is affiliated with it, as a mortgage loan originator, as defined by 5 Del.C. Ch. 24, to provide mortgage loan originator services has complied with all the requirements of that chapter and the regulations issued thereunder.
5.5 A licensee may use its surety bond under 5 Del.C. Ch. 21 to cover mortgage loan originators who are its employees or exclusive agents if the bond conforms to all requirements of 5 Del.C. §2415 and §12.0 of Regulation 2401.
6.4 When a licensee advertises with respect to its services under 5 Del.C. Ch. 21, the advertisement shall clearly and conspicuously state that the licensee is licensed by the Delaware State Bank Commissioner to engage in business in this State and specify the license number and expiration date of the license.
10.1 The Nationwide Mortgage Licensing System and Registry, as the multi-state automated licensing system in which the Commissioner is participating pursuant to 5 Del.C. §2117, is authorized to act on behalf of the Commissioner to facilitate the application and licensing processes of 5 Del.C. Ch. 21, and in that capacity, the System may, with respect to that chapter:
10.2 Any person seeking an initial or renewal license to engage in a business that requires a license under 5 Del.C. Ch. 21 shall submit the appropriate application and fees to the Commissioner through the Nationwide Mortgage Licensing System and Registry.
11.1 The Commissioner may examine licensees pursuant to 5 Del.C. §§122 and 2110. The costs 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.
5 Del.C. §§2111(a) and 2112
1.8 Additional Records. The office shall maintain any other records necessary to verify the licensee’s compliance with 5 Del.C. Ch. 21, all regulations issued thereunder, and all other applicable State and federal statutes and regulations.
5 Del.C. §2115
2.1 A licensee may receive any form of compensation that is allowed under 5 Del.C. Ch. 21, and not prohibited by any applicable federal statute or regulation. For the purposes of this section, compensation means the transfer of any "thing of value" as defined in the Federal Real Estate Settlement Procedures Act, as amended and the regulations thereunder, and does not require transfer of money.
5 Del.C. §2113
2.1 the licensee’s name, address, and telephone number;
2.3 the applicant’s name, address, and telephone number;
5 Del.C. §§2111 and 2112
6. List the Delaware business conducted (number of loans) in each of the following categories:
5 Del.C. §§2111 and 2112
4. DELAWARE assets as of December 31st of the immediately previous year:
1.1 5 Del.C. Ch. 22 applies only to consumer credit transactions, including but not limited to, extensions of credit secured by one to four family residential, owner-occupied property located in this State intended for personal, family, or household purposes.
1.2 5 Del.C. Ch. 22 does not apply to:
1.2.3 lending that requires a license under 5 Del.C. Ch. 29, Financing the Sale of a Motor Vehicle.
2.1 All licensees shall comply with 5 Del.C. Ch. 22, all regulations issued thereunder, and all other applicable State and federal statutes and regulations.
3.2 Each licensed office open to the public that provides short-term consumer loans as defined in 5 Del.C. §2227 shall also prominently post the following statement in plain view in an area easily accessible to its customers at the entrance to the office: “A payday loan is not intended to meet long-term financial needs.”
4.2 A licensee shall take all necessary action to discharge, satisfy or release any other security interest for a loan under 5 Del.C. Ch. 22 within 30 days from the date that the loan is satisfied or fully performed.
6.1 A licensee shall not sell, assign, or in any way transfer loan contracts to any person who is not licensed under 5 Del.C. Ch. 22 or licensed under a similar statute of another state, without the express written permission of the Commissioner.
Solely for the purposes of the loan limitation provisions contained in the last sentence of 5 Del.C. §2228(a), the term “loans” shall not be deemed to include loans secured by mortgages on real property located in this State (or secured by certificates of stock or other evidence of ownership interest in, or proprietary leases from corporations or partnerships formed for the purpose of cooperative ownership of real estate in this State) if such loans are originated by a licensee for resale and the licensee in fact sells, assigns or otherwise transfers the entire interest in the loan (except servicing, if servicing is retained) within 120 days following the date the loan is made. Upon written request, additional time may be granted at the discretion of the Commissioner.
8.1 Each licensee shall insure that every person who it employs, or is affiliated with it, as a mortgage loan originator, as defined by 5 Del.C. Ch. 24, to provide mortgage loan origination services has complied with all requirements of that Chapter and the regulations issued thereunder.
9.4 When a licensee advertises with respect to its services under 5 Del.C. Ch. 22, the advertisement shall clearly and conspicuously state that the licensee is licensed by the Delaware State Bank Commissioner to engage in business in this State under and specify the license number and expiration date of the license.
10.1.3 If the licensee provides short-term consumer loans as defined in 5 Del.C. §2227, the home page shall prominently display the following statement: “A payday loan is not intended to meet long-term financial needs.”
14.1 The Nationwide Mortgage Licensing System and Registry, as the multistate automated licensing system in which the Commissioner is participating pursuant to 5 Del.C. §2213A, is authorized to act on behalf of the Commissioner to facilitate the application and licensing processes of 5 Del.C. Ch. 22 as to persons that employ, or have affiliated, a mortgage loan originator as defined by 5 Del.C. Ch. 24, and in that capacity, the System may, with respect to those persons:
14.2 Any person seeking an initial or renewal license to engage in a business that requires a license under 5 Del.C. Ch 22 shall submit the appropriate application and fees to the Commissioner through the Nationwide Mortgage Licensing System and Registry when that person employs, or has affiliated, a mortgage loan originator as defined by 5 Del.C. Ch 24. All other persons shall submit applications for licenses under 5 Del.C. Ch 22 directly to the Commissioner.
15.1 The Commissioner may examine licensees pursuant to 5 Del.C. §§122 and 2210. 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.
5 Del.C. §§2210(e) and 2211(a)
1.2.10 for short-term consumer loans as defined in 5 Del.C. §2227, evidence that the licensee has complied with all requirements of 5 Del.C. §§2235A and 2235B for each short-term consumer loan or rollover application received from the applicant, including:
1.3.2 for short-term consumer loans as defined in 5 Del.C. §2227, evidence that the licensee has complied with the requirements of 5 Del.C. §2235A and 2235B for each short-term consumer loan or rollover made to the borrower, including;
1.3.3 for title loans as defined in 5 Del.C. §2250, evidence that the licensee has complied with the requirements of 5 Del.C. Ch. 22 Subch. V including the requirements related to disclosures, rollovers, work-out agreements and rescissions;
1.3.19 evidence that the licensee has complied with the requirements of 10 U.S.C. §987, as amended, and the regulations thereunder, if applicable, relating to the requirements for payday loans, vehicle title loans and tax refund anticipation loans as each of those loans are defined in 32 CFR Part 232 when the loan is extended to a covered borrower as defined in Part 232;
1.3.20 if the licensee provides mortgage loan modification services as defined in 5 Del.C. §2245, evidence that the licensee has complied with the requirements of that section, including the limitations on compensation; and
1.4 Daily Transaction Record. The office shall maintain on a daily basis a record of all transactions involving either the receipt or disbursement of any amount whatsoever. Details of disbursements to or for the account of borrower’s shall be itemized.
1.5.3.6 any other documents sent or received by the licensee pursuant to the 6 Del.C. Article 9. Secured Transactions, Part 6. Default;
1.6 Credit Insurance Claims Record. The office shall maintain a credit insurance claims record containing the following information on all claims submitted by borrowers to the insurer:
1.9 Additional Records. The office shall maintain any other records necessary to verify the licensee’s compliance with 5 Del.C. Ch. 22, all regulations issued thereunder, and all other applicable State and federal statutes and regulations.
5 Del.C. §§2218(a) and 2231
1.1 Each licensee shall maintain itemizations of the current charges that the licensee uses in consumer transactions. The itemization shall identify all charges that the licensee may collect from its customers for a particular type of transaction. Separate itemizations must be prepared for revolving transactions, closed-end transactions, short term consumer loans as defined in 5 Del.C. §2227, title loans as defined in 5 Del.C. §2250, and real estate secured transactions. Each itemization must be dated as of the most recent change in any charge and may contain value ranges to reflect the different costs of credit that may vary with risk or rate. Each itemization shall clearly identify the specific type of loan to which it applies.
1.3 Each licensee that provides short term consumer loans as defined in 5 Del.C. §2227 or title loans as defined in 5 Del.C. §2250 shall prominently post its itemization of charges for those loans:
2.1 A licensee may receive any form of compensation that is allowed under 5 Del.C. Ch. 22 and not prohibited by any applicable federal statute or regulation.
2.5 A licensee may not receive any compensation for mortgage loan modification services as defined in 5 Del.C. §2245 prior to the execution of a written contract that describes in detail all such services that the licensee will perform and all compensation that the licensee will receive for those services. Any compensation that a licensee receives in advance of the completion of all such services may not exceed $250, and a licensee’s total compensation for such services must be limited to an amount that is customary and reasonable for those services in this State.
5 Del.C. §2208
2.1 Each licensee shall obtain a surety bond or irrevocable letter of credit in an amount that correlates with the licensee’s volume of Delaware lending for the year ending December 31 that precedes the effective year of the license under 5 Del.C. Ch. 22. A licensee who obtains a surety bond that is effective for more than one year or an irrevocable letter of credit shall annually review the amount of the surety bond or irrevocable letter of credit as of December 31 of each year to ensure that the minimum required amount is maintained. The minimum required amount of the surety bond or irrevocable letter of credit shall be maintained according to the following table:
3.1 A licensee may use its surety bond under 5 Del.C. Ch. 22 to cover mortgage loan originators licensed under 5 5 Del.C. Ch. 22 and who are its employees or exclusive agents if the bond conforms to all requirements of 5 Del.C. §2415 and §12.0 of Regulation 2401.
5 Del.C. §2210(e)
Failure to submit this report when due will be a violation of this regulation. In addition, an examination may be scheduled and examination staff allocated without respect to the licensee’s volume of Delaware loans. This may result in additional examination costs.
6. List the Delaware business conducted (number of loans) in each of the following categories:
5 Del.C. §2210(e)
4. DELAWARE assets as of December 31st of the immediately previous year:
5 Del.C. §2906(e)
1.1 Lease Contracts. 5 Del.C. Ch. 29 applies to a lease contract only when:
1.2 5 Del.C. Ch. 29 applies to all motor vehicles meeting the definition of that term in 5 Del.C. §2901(1) regardless of whether the intended use is personal or commercial.
2.1 All licensees shall comply with 5 Del.C. Ch. 29, all regulations issued thereunder, and all other applicable State and federal statutes and regulations.
7.4 When a licensee advertises with respect to its services under 5 Del.C. Ch. 29, the advertisement shall clearly and conspicuously state that the licensee is licensed by the Delaware State Bank Commissioner to engage in business in this State and specify the license number and expiration date of the license.
11.1 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.
5 Del.C. §2906(e)
1.5.3.11 any other documents sent or received by the licensee pursuant to 6 Del.C. Article 9. Secured Transactions, Part 6. Default.
1.8 Additional Records. The office shall maintain any other records necessary to verify the licensee’s compliance with 5 Del.C. Ch. 29, all regulations issued thereunder, and all other applicable State and federal statutes and regulations.
5 Del.C. §2906(e)
Failure to submit this report when due will be a violation of this regulation. In addition, an examination may be scheduled and examination staff allocated without respect to the licensee’s volume of Delaware loans. This may result in additional examination costs.
6. List the Delaware business conducted (number of contracts) in each of the following categories:
5 Del.C. §2906(e)
4. DELAWARE assets as of December 31st of the immediately previous year:
Last Updated: December 31 1969 19:00:00.
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