Delaware Code Title 5 Sec. 3406 – License to accept preneed contract required; fees
(a) No person, firm, partnership, association or corporation may, without first securing from the Commissioner a license, accept or hold payments made on preneed burial contracts, except insured institutions as defined in § 3401 of this title. Application for a license shall be in writing, signed by the applicant and duly verified on forms furnished by the Commissioner. Each application shall contain at least the following:
Terms Used In Delaware Code Title 5 Sec. 3406
- Commissioner: means the State Bank Commissioner. See Delaware Code Title 5 Sec. 3401
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- 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
The full name and address (both residence and place of business) of the applicant and every member, officer and director thereof if the applicant is a firm, partnership, association or corporation. Any license issued pursuant to the application shall be valid only at the address stated in the application for the applicant or at a new address approved by the Commissioner.
(b) Upon receipt of the application and payment of a license fee of $25, the Commissioner shall issue a license, unless the Commissioner determines that the applicant has made false statements or representations in the application, or is insolvent, or has conducted or is about to conduct business in a fraudulent manner, or is not duly authorized to transact business in this State.
24 Del. C. 1953, § ?3124; 58 Del. Laws, c. 415, § ?2; 63 Del. Laws, c. 145, § ?1; 68 Del. Laws, c. 389, § ?5; 70 Del. Laws, c. 186, § ?1; 71 Del. Laws, c. 19, §§ ?10, 17;