505 Fiduciary Fund Requirements for Insurance Producers
Delaware Administrative Code Title 18 (Insurance), Regulation 505
Edition and licensing notes
Publisher. Delaware Department of Insurance; published by the Delaware Registrar of Regulations (regulations.delaware.gov)
Status. Delaware Administrative Code, public domain (state government edict).
What this document is
Delaware Administrative Code Title 18 (Insurance), Regulation 505 - 505 Fiduciary Fund Requirements for Insurance Producers is a regulation published by Delaware Department of Insurance; published by the Delaware Registrar of Regulations (regulations.delaware.gov). It is one of the Delaware documents that insurance license exam questions are written from, including delaware property & casualty practice questions. This page summarizes it and points to the official version, which is the text to rely on.
Sections cited in practice questions
Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.
- 18 DE Admin. Code 505 § 8.1.3 (Commingling of funds, when not permitted)
“The deposit of a premium collection in a separate bank account may not be construed as a mingling by the producer of the net premium and of the commission portion of the premium. The commission portion of the premium may be withdrawn from the separate bank account at the discretion of the producer.”
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More Delaware sources
- Del. Code tit. 18, ch. 29: Life insurance contracts - standard policy provisionsState statute
- Delaware Code Title 18, Ch. 017 - Licensing of Professional Insurance PersonnelState statute
- Delaware Code Title 18, Ch. 023 - Unfair Practices in the Insurance BusinessState statute
- Delaware Code Title 18, Ch. 29 - Life Insurance and Annuity ContractsState statute
- Delaware Code Title 18, Ch. 031 - Life Insurance ContractsState statute
- Delaware Code Title 18, Ch. 035 - Group and Blanket Health InsuranceState statute
- Delaware Code Title 18 Chapter 17 - Licensing of Professional Insurance Personnel (Secs. 1701-1724)State statute
- Delaware Code Title 18 Chapter 17A - Licensing of Public Adjusters (Secs. 1750-1761)State statute