§ 7515. Injunctions; civil remedies; cease and desist.
§ 7515. Injunctions; civil remedies; cease and desist. (a) In addition to the penalties and other enforcement provisions of this Act, if any person violates this Act or any regulation implementing this Act, the Commissioner, through the Attorney General, may seek an injunction in a court of competent jurisdiction and may apply for temporary and […]
§ 7516. Authority to promulgate regulations.
§ 7516. Authority to promulgate regulations. 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, […]
§ 7517. Unfair trade practices.
§ 7517. Unfair trade practices. A violation of this Act, including the commission of a fraudulent viatical settlement act, is an unfair or deceptive act or practice in the business of insurance under § 2304 of this title, subject to the penalties contained in Chapter 23 of this title. 72 Del. Laws, c. 132, § […]
§ 7518. Nonpreemption of requirements under the Delaware Securities Act.
§ 7518. Nonpreemption of requirements under the Delaware Securities Act. Nothing in this chapter preempts any provision set forth in Chapter 73 of Title 6, as amended, including the regulation of securities transactions in viatical settlement investments and the licensing of any person or entity engaged in the sale of securities. 81 Del. Laws, c. […]
§ 7519. Severability.
§ 7519. Severability. If any portion of this Act or any amendments thereto, or its applicability to any person or circumstance is held invalid by a court, the remainder of this Act or its applicability to other persons or circumstances are not affected. 81 Del. Laws, c. 172, § 1;
§ 7520. Effective date.
§ 7520. Effective date. A viatical settlement provider or viatical settlement broker transacting business in this State may continue to do so pending approval or disapproval of the provider or broker’s application for a license as long as the application is filed with the Commissioner by January 1, 2018. 81 Del. Laws, c. 172, § […]
§ 7601. Definitions.
§ 7601. Definitions. For purposes of this chapter: (1) The terms “affiliate,” “control,” and “subsidiary” shall have the meanings ascribed to them in § 5001 of this title. (2) “Ancillary services” includes, but is not limited to, audiology, dental, vision, mental health, substance abuse, chiropractic and podiatry services. “Ancillary services” do not include services which […]
§ 7602. Applicability and scope.
§ 7602. Applicability and scope. (a) This chapter applies to all discount medical plan organizations doing business in Delaware. (b) A discount medical plan organization that is a health carrier licensed pursuant to Chapter 5 of this title, a health service corporation subject to Chapter 63 of this title, or managed care organization subject to […]
§ 7603. Licensing requirements.
§ 7603. Licensing requirements. (a) Before doing business in this State as a discount medical plan organization, a person shall obtain a license from the Commissioner to operate as a discount medical plan organization. (b) Each application for a license to operate as a discount medical plan organization: (1) Shall be in a form prescribed […]
§ 7604. Surety bond or deposit requirements.
§ 7604. Surety bond or deposit requirements. (a) Each licensed discount medical plan organization shall maintain in force a surety bond in its own name in an amount not less than $50,000 to be used in the discretion of the Commissioner to protect the financial interest of members. The amount and form of the surety […]