Delaware § 7516 Authority to promulgate regulations

Delaware Statutes

§ 7516 — Authority to promulgate regulations

Delaware § 7516

Title18

PartInsurance

Ch. 75DELAWARE VIATICAL SETTLEMENTS ACT

This text of Delaware § 7516 (Authority to promulgate regulations) is published on Counsel Stack Legal Research, covering Delaware primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Del. Code tit. 18, § 7516 (2026).

Text

The Commissioner has the authority to:

(1)Promulgate regulations implementing this chapter.

(2)Establish standards for evaluating reasonableness of payments under viatical settlement contracts for persons who are terminally or chronically ill. This authority includes regulation of discount rates used to determine the amount paid in exchange for assignment, transfer, sale, devise, or bequest of a benefit under a life insurance policy insuring the life of a person that is chronically or terminally ill.

(3)Establish appropriate licensing requirements, fees, and standards for continued licensure for viatical settlement providers and viatical settlement brokers.

(4)Require a bond or other mechanism for financial accountability for viatical settlement providers.

(5)Adopt rules governin

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The Commissioner has the authority to:

(1) Promulgate regulations implementing this chapter.

(2) Establish standards for evaluating reasonableness of payments under viatical settlement contracts for persons who are terminally or chronically ill. This authority includes regulation of discount rates used to determine the amount paid in exchange for assignment, transfer, sale, devise, or bequest of a benefit under a life insurance policy insuring the life of a person that is chronically or terminally ill.

(3) Establish appropriate licensing requirements, fees, and standards for continued licensure for viatical settlement providers and viatical settlement brokers.

(4) Require a bond or other mechanism for financial accountability for viatical settlement providers.

(5) Adopt rules governing the relationship and responsibilities of both insurers and viatical settlement providers and viatical settlement brokers during the viatication of a life insurance policy or certificate.