reglab/statecodes huggingface dataset:
2023 Delaware Code › Title 5 - Banking › Chapter 21. MORTGAGE LOAN BROKERS › § 2105. Changes in officers or directors of licensee.

§ 2105. Changes in officers or directors of licensee.
In the event that there shall be any change among the officers, partners or directors of any licensee, the licensee shall forthwith notify the Commissioner of the name, address and occupation of each new officer, partner or director and provide such other information as the Commissioner may require.
68 Del. Laws, c. 326, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 21. MORTGAGE LOAN BROKERS › § 2106. License requirements.

§ 2106. License requirements.
A licensee shall obtain a license for each office or other place of business from which its mortgage loan brokerage business is conducted upon payment of the required fees for each office and compliance with all applicable provisions of law. In the event the location of a licensed office is changed during the term of the license, the Commissioner shall issue without charge an amended license for the new location. If there is a change of name but no change in corporate or other business structure, the Commissioner shall issue without charge an amended license for the new name. Such license shall not otherwise be transferrable or assignable. The Commissioner may issue more than 1 license to the same applicant upon payment of the required fees and compliance with all applicable provisions of law.
68 Del. Laws, c. 326, §  1;  69 Del. Laws, c. 165, §  25;  72 Del. Laws, c. 15, §  28;  80 Del. Laws, c. 225, § 3;
2023 Delaware Code › Title 5 - Banking › Chapter 21. MORTGAGE LOAN BROKERS › § 2107. Renewal of license.

§ 2107. Renewal of license.
Every holder of a license or a renewal thereof, as provided for in this section, desiring to continue the transaction of business as provided for in this chapter, shall, at least 30 days prior to the expiration of such license or renewal thereof, make application to the Commissioner, on forms to be provided by the Commissioner, for a license renewal. The Commissioner may mandate that applications for renewal shall be treated as new applications if said renewal applications are not on file with the office of the State Bank Commissioner at least 30 days prior to the expiration of such license or renewal thereof. Licensees who have not complied with supervisory letters or who have not paid any supervisory assessment or examination fees when due may be refused license renewal.
68 Del. Laws, c. 326, §  1;  70 Del. Laws, c. 327, §  42;
2023 Delaware Code › Title 5 - Banking › Chapter 21. MORTGAGE LOAN BROKERS › § 2109. Suspension, revocation or surrender of license.

§ 2109. Suspension, revocation or surrender of license.
(a) The Commissioner may revoke any license issued hereunder if the Commissioner shall find that:
(1) The licensee has violated any provision of this chapter or any rule, regulation or order made by the Commissioner under and within the authority of this chapter or of any other law, rule or regulation of this State or the United States;
(2) Any fact or condition exists which, if it had existed at the time of the original application for such license, would have warranted a refusal to originally issue such license on the part of the Commissioner; or
(3) The licensee has engaged in business activities or practices inconsistent with its responsibilities as set forth in § 2114 of this title.
(b) The Commissioner may temporarily suspend any license pending the issuance of a final order as provided in Chapter 101 of Title 29.
(c) Except as provided in subsection (b) of this section, no license shall be revoked or suspended except after notice and an opportunity for the licensee to request a hearing in accordance with Chapter 101 of Title 29.
(d) Any licensee may surrender any license by delivering to the Commissioner such license together with written notice that it thereby surrenders such license, but such surrender shall not affect such licensee's civil or criminal liability for acts committed prior to such surrender.
(e) No revocation, suspension or surrender of any license shall impair or affect the obligation of any preexisting lawful contract between the licensee and any person.
(f) Every license issued hereunder shall remain in force and effect until the same shall have expired or shall have been surrendered, revoked or suspended in accordance with this chapter, but the Commissioner shall have the authority to reinstate a suspended license or to issue a new license to a licensee whose license shall have been revoked if no fact or condition then exists which would have warranted the Commissioner in refusing originally to issue such license under this chapter.
(g) Whenever the Commissioner shall revoke or suspend a license issued pursuant to this chapter, the Commissioner shall forthwith execute a written order to that effect. The Commissioner shall forthwith serve the written order upon the licensee. Any such order may be reviewed in the manner provided by Chapter 101 of Title 29.
68 Del. Laws, c. 326, §  1;  70 Del. Laws, c. 186, §  1;  73 Del. Laws, c. 24, §§  4, 5, 6;  77 Del. Laws, c. 126, §  2;
2023 Delaware Code › Title 5 - Banking › Chapter 21. MORTGAGE LOAN BROKERS › § 2110. Supervision and examination of business by Commissioner.

§ 2110. Supervision and examination of business by Commissioner.
(a) Each licensee shall be subject to the supervision of the Commissioner, and the Commissioner shall visit and examine each licensee as frequently as the Commissioner deems it necessary or expedient. On the occasion of each such visit and examination, the Commissioner shall (in the company of one or more of the officers of such licensee, if requested by such licensee) be given free access to every part of the office or place or places of business and to the assets, securities, books, papers and records of such licensee.
(b) If, in the Commissioner's opinion, it is necessary or convenient for a proper examination of a licensee, the Commissioner may retain 1 or more accountants, attorneys, appraisers or other 3rd parties to assist the Commissioner in such examination. Within 10 days after receipt of a statement from the Commissioner, such licensee shall pay or reimburse the fees, costs and expenses of any 3rd parties retained by the Commissioner under this subsection.
(c) Any examination under this section may be made by any person or persons designated by the Commissioner, and in such case all the powers vested in the Commissioner by this section shall be possessed by such person or persons so designated. When any such examination is made without the presence of the Commissioner, the Commissioner shall give written authority to the person or persons conducting such examination, which shall be exhibited, on request, to any person contacted in the course of the investigation.
68 Del. Laws, c. 326, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 21. MORTGAGE LOAN BROKERS › § 2111. Maintenance of books and records by licensee.

§ 2111. Maintenance of books and records by licensee.
(a) Every licensee shall maintain such books, accounts and records relating to its business as will enable the Commissioner to enforce full compliance with this chapter, which books, accounts and records shall be in such form, shall contain such information and shall be kept in such manner as the Commissioner may require. Such records shall be kept at such place and shall be preserved for such length of time as the Commissioner may specify.
(b) A licensee shall file with the Commissioner such reports at such times as the Commissioner may require, which reports shall be in such form and shall contain such information as the Commissioner may specify.
(c) Each licensee shall submit to the Nationwide Mortgage Licensing System and Registry developed and maintained by the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators reports of condition, which shall be in such form and shall contain such information as the Nationwide Mortgage Licensing System and Registry may require.
68 Del. Laws, c. 326, §  1;  77 Del. Laws, c. 96, §  3;
2023 Delaware Code › Title 5 - Banking › Chapter 21. MORTGAGE LOAN BROKERS › § 2113. Mortgage or loan broker disclosures.

§ 2113. Mortgage or loan broker disclosures.
A licensee may not receive a fee for acting as a mortgage loan broker except pursuant to a written agreement between the mortgage loan broker and the borrower. Such written agreement shall be entered into prior to the time that the mortgage loan broker undertakes to perform mortgage loan brokerage services on behalf of a borrower. A copy of the fully completed written agreement shall be provided to the borrower at the time the borrower signs the agreement. The agreement:
(1) Must describe the services to be provided by the mortgage loan broker and the time period within which such services are to be provided;
(2) Must specify the amount and terms of the fees that the mortgage loan broker is to receive; and
(3) Shall otherwise contain such information and disclosures, in such format, as the Commissioner by regulation may provide.
68 Del. Laws, c. 326, §  1;  70 Del. Laws, c. 186, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 21. MORTGAGE LOAN BROKERS › § 2114. Responsibilities of mortgage loan brokers.

§ 2114. Responsibilities of mortgage loan brokers.
A mortgage loan broker shall diligently and in good faith attempt to obtain a mortgage loan for the account of a borrower in accordance with the terms of the agreement for mortgage loan brokerage services. No mortgage loan broker shall make or use any false or misleading representations or omit any material fact in the offer, sale or performance of the services of a mortgage loan broker or engage directly or indirectly in any act that operates as fraud or deception upon any person in connection with the offer, sale or performance of the services of a mortgage loan broker, notwithstanding the absence of reliance by a borrower.
68 Del. Laws, c. 326, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 21. MORTGAGE LOAN BROKERS › § 2115. Mortgage loan broker fees.

§ 2115. Mortgage loan broker fees.
A licensee may not accept any fee in connection with a mortgage loan, other than an application fee or any credit report fee, property appraisal fee, title examination fee or other bona fide 3rd-party fee actually and reasonably paid or incurred by the licensee on behalf of the borrower, prior to obtaining a written commitment from a qualified lender (setting forth the terms and conditions upon which the lender is willing to make a mortgage loan to the borrower). The amount of fees that may be collected or received by a mortgage loan broker, whether constituting an application fee, a fee payable to a 3rd party, fee payable at the time of written commitment or upon consummation of a mortgage loan or otherwise, shall be subject to such limitations as may be provided by regulation of the Commissioner. A licensee shall be obligated to refund all fees collected by it from a borrower, other than those fees paid by the licensee to a 3rd party, if a written commitment for a mortgage loan from a qualified mortgage lender is not produced within the time specified by the mortgage loan broker and otherwise at the rate, terms and overall costs agreed upon by the borrower or the mortgage loan does not close; provided however, that a licensee shall not be required to refund fees when the failure to obtain a written commitment for a mortgage loan or the failure of a closing thereunder to occur is due to the substantial fault of the borrower. For purposes of this section, substantial fault of the borrower means that the borrower has:
(1) Failed to provide information or documentation required by the lender or mortgage loan broker in a timely manner;
(2) Provided information, in the application or subsequently, which upon verification proves to be significantly inaccurate, causing the need for review or further investigation by the lender or mortgage loan broker;
(3) Failed to produce, no later than the date specified by the lender, all documentation specified in its mortgage loan commitment or closing instructions as being required for closing; or
(4) Failed to be ready, willing or able to close the mortgage loan no later than the date specified by the lender.
The Commissioner, by regulation, may provide further definition of the circumstances constituting substantial fault of a borrower, including, without limitation, reasonable time periods for the provision by a borrower of information or documentation or when information will be considered significantly inaccurate.
68 Del. Laws, c. 326, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 21. MORTGAGE LOAN BROKERS › § 2116. Penalty.

§ 2116. Penalty.
Any person who violates any provision of this chapter shall be fined not less than $50 nor more than $200 or imprisoned for not more than 3 months or both for each such offense.
73 Del. Laws, c. 247, §  7;
2023 Delaware Code › Title 5 - Banking › Chapter 21. MORTGAGE LOAN BROKERS › § 2117. Multi-state automated licensing system.

§ 2117. Multi-state automated licensing system.
(a) The Commissioner is authorized to participate in any automated system involving 1 or more other states that will facilitate any aspect of the application and licensing processes of this chapter.
(b) Upon joining any such system, the Commissioner may by regulation establish:
(1) Any additional requirements for a license under this chapter that the Commissioner determines are necessary for participation in the system;
(2) Prelicensing education and testing, and postlicensing continuing education of individuals employed by the applicants or licensees subject to the system; and
(3) Any additional investigation fees, any fees paid directly to the administrator of the system, or any other fee required by the system to process an application or maintain a license, in such amount as the Commissioner determines is necessary to participate in the system.
(c) The administrator of any such system in which the Commissioner participates is authorized to act on behalf of the Commissioner to collect from the applicants and licensees subject to the system any payments due the Commissioner under this chapter, to collect information and maintain records in electronic or other format relating to those applicants and licensees, and to submit fingerprints and any other information required for a criminal history background check to the Federal Bureau of Investigation or other law-enforcement agency.
(d) Information maintained on any such system in which the Commissioner participates regarding the applicants and licensees subject to the system may be shared with any other state participating in that system for the purpose of licensing, regulating, or supervising that same applicant or licensee under a statute similar to this chapter, if that state could have obtained that same information directly from the applicant or licensee under its own law. The Commissioner shall ensure that the system maintains appropriate confidentiality, privacy, data security, and security breach notification policies that are in full compliance with Delaware law.
76 Del. Laws, c. 264, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 21. MORTGAGE LOAN BROKERS › § 2118. Reverse mortgages.

§ 2118. Reverse mortgages.
(a) For purposes of this section, unless the context requires otherwise:
(1) “Independent housing counselor” means a housing counseling agency approved by the United States Department of Housing and Urban Development, or any government agency or nonprofit organization that is not affiliated with either the reverse mortgage lender or any other person receiving a fee from the transaction and provides mortgage loan counseling to the public of this State regarding the advisability of entering into a reverse mortgage transaction.
(2) “Reverse mortgage loan” means a mortgage loan the proceeds of which are disbursed to the mortgagor in 1 or more lump sums, or in equal or unequal installments, either directly by the lender or the lender's agent, and which requires no repayment until a future time, upon the earliest occurrence of 1 or more events specified in the reverse mortgage loan contract.
(b) A licensee may not accept any fee in connection with a reverse mortgage loan, other than an application fee or a credit report fee, property appraisal fee, title examination fee or other bona fide third-party fee actually and reasonably paid or incurred by the licensee on behalf of the borrower, prior to receiving a written certification from an independent housing counselor attesting that the prospective borrower has received counseling on reverse mortgage loans that includes the information specified in 12 U.S.C. § 1715z-20(f) and such other information as the Commissioner may designate by regulation.
76 Del. Laws, c. 335, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 21. MORTGAGE LOAN BROKERS › § 2119. Mortgage loan modification services; compensation.

§ 2119. Mortgage loan modification services; compensation.
(a) As used in this section, unless the context requires otherwise, “mortgage loan modification services” means services as an intermediary between an individual and 1 or more mortgage loan creditors for the purpose of obtaining:
(1) Assent to the repayment of a mortgage loan on terms more favorable to the individual than the terms of the original mortgage loan; or
(2) An arrangement to delay, prevent, remedy, eliminate or discharge any default on the terms of a mortgage loan, or the sale of any property incident to a foreclosure or other judicial proceeding based on a mortgage loan.
(b) A licensee may not receive any compensation for mortgage loan modification services 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 received by a licensee in advance of the completion of all such services may not exceed $250.
(c) The total compensation that a licensee receives for mortgage loan modification services must be limited to an amount that is customary and reasonable for those services in this State.
77 Del. Laws, c. 138, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 22. LICENSED LENDERS › Subchapter I. Licensing › § 2201. Definitions.

§ 2201. Definitions.
In this chapter, unless the context otherwise requires:
(1) “Person” means an individual, corporation, partnership or any other business entity or group or combination of individuals however organized.
(2) “Licensee,” “licensed lender,” “person licensed” or “lender” means any person duly licensed or regulated by the Commissioner pursuant to this chapter and, in addition, means any person or class of persons exempt from any or all of the provisions of this chapter in accordance with § 2202(b) of this title, to the extent and for such purposes as determined by the Commissioner in order to effectuate the purposes of this chapter.
(3) “Commissioner” means the State Bank Commissioner.
(4) “Payment period” means the period of time scheduled by the terms of a loan to elapse between the days upon which installment payment are required to be made on such loan.
66 Del. Laws, c. 22, §  1;  68 Del. Laws, c. 105, §  18;  72 Del. Laws, c. 15, §  29;
2023 Delaware Code › Title 5 - Banking › Chapter 22. LICENSED LENDERS › Subchapter I. Licensing › § 2202. License required.

§ 2202. License required.
(a) Every person desiring to transact the business of lending money in this State shall be required to obtain a license under this chapter; provided, however, that a person that makes not more than 5 loans within any 12-month period shall be deemed not to be transacting the business of lending money. Except as otherwise provided by law, loans made by any such unlicensed lender shall fall under Chapter 23 of Title 6. This chapter shall not apply:
(1) To any banking organization, federal credit union or insurance company; or
(2) To any other person, if and to the extent that such person is lending money in accordance with and as authorized by any other applicable law of this State or the United States, including but not limited to the registration requirements in Chapter 17 of this title.
(b) The Commissioner shall be authorized to exempt from any or all of the provisions of this chapter such persons or classes of persons, or loans or classes of loans, as the Commissioner shall find inappropriate to include within the coverage of this chapter in order to effectuate the purposes of this chapter. The Commissioner may by regulation establish procedures for application, fees and other requirements for an exemption pursuant to this subsection.
(c) A person shall not be deemed to be transacting the business of lending money within the meaning of this section solely by reason of the circumstance that such person is a participating merchant, as such term is used in this chapter.
66 Del. Laws, c. 22, §  1;  68 Del. Laws, c. 105, §  19;  70 Del. Laws, c. 327, §  43;  72 Del. Laws, c. 15, §  30;
2023 Delaware Code › Title 5 - Banking › Chapter 22. LICENSED LENDERS › Subchapter I. Licensing › § 2203. Application and fees.

§ 2203. Application and fees.
(a) Every application for a license shall be in writing in the form prescribed by the Commissioner and shall contain the name and complete address or addresses where the business of the applicant is to be conducted and, if the applicant be a partnership, association, corporation or other form of business organization, the names and complete addresses of each member, director and principal officer thereof. Such application shall also include a description of the activities of the applicant, in such detail and for such periods as the Commissioner may require, as well as such further information as the Commissioner may require. The Commissioner, at the time the application is submitted or in connection with an investigation of the application, may require the applicant, the spouse of the applicant, a principal of, individual who is a person in control of, or proposed responsible individual of the applicant, or any other individual associated with the applicant and the proposed licensed activities, to provide the Commissioner or the Commissioner's designee with a complete set of fingerprints for purposes of a criminal background investigation. Such applicant, at the time of making such application, shall pay to the Commissioner as an investigation fee the sum of $250 which shall not be refundable.
(b) Upon approval, the applicant shall pay an annual license fee of $250 which shall be payable annually thereafter. No abatement in the amount of said license fee shall be made if the license is issued for less than 1 year or if the license is surrendered, canceled or revoked prior to the expiration of the period for which such license was issued. Every license shall expire on December 31 of each year.
(c) In addition to the annual license fee required by subsection (b) of this section, each licensee making short-term consumer loans, as defined in § 2227 of this title, and/or title loans, as defined in § 2250 of this title, shall pay an annual high-cost loan license fee surcharge of $1,500 for each licensed office. There is hereby created within the State Treasury a special fund to be designated as the Financial Literacy Education Fund which shall be used to fund grants to or contracts with schools or other organizations that provide financial and economic literacy skills to adults and youth in accordance with guidelines and/or regulations to be established by the Commissioner and the Delaware Secretary of Education. All fees which are by law payable under this subsection shall be paid into the State Treasury and to the credit of the Financial Literacy Education Fund.
66 Del. Laws, c. 22, §  1;  68 Del. Laws, c. 105, §  20;  77 Del. Laws, c. 164, §  2;  82 Del. Laws, c. 78, § 2;
2023 Delaware Code › Title 5 - Banking › Chapter 22. LICENSED LENDERS › Subchapter I. Licensing › § 2204. Issuance of license.

§ 2204. Issuance of license.
Upon the filing of an application for a license, if the Commissioner shall find that the financial responsibility, experience, character and general fitness of the applicant and of the members thereof (if the applicant be a copartnership or association) and of the officers and directors thereof (if the applicant be a corporation) are such as to command the confidence of the community and to warrant belief that the business will be operated honestly, fairly and efficiently within the purpose of this chapter, the Commissioner shall thereupon issue a license to transact business in accordance with this chapter. If the Commissioner shall not so find, the Commissioner shall not issue such license and the Commissioner shall notify the applicant of the denial, give notice of the grounds for refusal and notify the applicant of the right to request a hearing. If the applicant requests a hearing the Commissioner shall hold such hearing under Chapter 101 of Title 29. The Commissioner shall approve or deny every application for license hereunder within 90 days from the date the Commissioner determines that the application as filed with the Commissioner is complete.
66 Del. Laws, c. 22, §  1;  68 Del. Laws, c. 105, §  21;  70 Del. Laws, c. 186, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 22. LICENSED LENDERS › Subchapter I. Licensing › § 2205. Changes in officers or directors of licensee.

§ 2205. Changes in officers or directors of licensee.
In the event that there shall be any change among the officers, partners or directors of any licensee, the licensee shall forthwith notify the Commissioner of the name, address and occupation of each new officer, partner or director and provide such other information as the Commissioner may require.
66 Del. Laws, c. 22, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 22. LICENSED LENDERS › Subchapter I. Licensing › § 2206. License requirements; acquisition.

§ 2206. License requirements; acquisition.
(a) A licensee shall obtain a license for each office or other place of business from which its licensed business is conducted upon payment of the required fees for each office and compliance with all applicable provisions of law. In the event the location of a licensed office is changed during the term of the license, the Commissioner shall issue without charge an amended license for the new location. In case there is a change of name but no change in corporate structure, the Commissioner shall issue without charge an amended license for the new name. Such license shall not be otherwise transferable or assignable. The Commissioner may issue more than 1 license to the same applicant upon payment of the required fees and compliance with all applicable provisions of law.
(b) Upon written request, the Commissioner may in the Commissioner's discretion grant conditional approval for the acquired licensee to conduct its business under its existing license for a period not to exceed 60 days in cases where the control of the licensee changes and where a new application for licensure has been filed in accordance with § 2203 of this title.
66 Del. Laws, c. 22, §  1;  70 Del. Laws, c. 6, §§  8, 9;  70 Del. Laws, c. 186, §  1;  72 Del. Laws, c. 15, §  31;  80 Del. Laws, c. 225, § 4;
2023 Delaware Code › Title 5 - Banking › Chapter 22. LICENSED LENDERS › Subchapter I. Licensing › § 2207. Renewal of license.

§ 2207. Renewal of license.
Every holder of a license or a renewal thereof, as provided for in this section, desiring to continue the transaction of the business as provided for in this chapter, shall at least 30 days prior to the expiration of such license or renewal thereof make application to the Commissioner on forms to be provided by the Commissioner for a license renewal. The Commissioner may mandate that applications for renewal shall be treated as new applications if said renewal applications are not on file with the office of the State Bank Commissioner at least 30 days prior to the expiration of such license or renewal thereof. Licensees who have not complied with supervisory letters or who have not paid the supervisory assessment or examination fees may be refused license renewal.
66 Del. Laws, c. 22, §  1;  70 Del. Laws, c. 327, §  42;
2023 Delaware Code › Title 5 - Banking › Chapter 22. LICENSED LENDERS › Subchapter I. Licensing › § 2209. Suspension, revocation or surrender of license.

§ 2209. Suspension, revocation or surrender of license.
(a) The Commissioner may revoke any license issued hereunder if the Commissioner shall find that:
(1) The licensee has violated any provision of this chapter or any rule or regulation made by the Commissioner under and within the authority of this chapter or of any other law, rule or regulation of this State or the United States.
(2) Any fact or condition exists which, if it had existed at the time of the original application for such license, would have warranted the Commissioner in refusing originally to issue such license.
(3) The licensee has engaged in business activities or practices in connection with extensions of credit to consumers, which could be deemed unfair or deceptive by nature of intent. Such activities and practices include, but are not limited to, the use of tactics which mislead the consumer, misrepresent the consumer transaction or any part thereof or otherwise create false expectations on the part of the consumer.
(b) The Commissioner may temporarily suspend any license pending the issuance of a final order as provided in Chapter 101 of Title 29.
(c) Except as provided in subsection (b) of this section, no license shall be revoked or suspended except after notice and an opportunity for the licensee to request a hearing in accordance with Chapter 101 of Title 29.
(d) Any licensee may surrender any license by delivering to the Commissioner such license together with written notice that it thereby surrenders such license, but such surrender shall not affect such licensee's civil or criminal liability for acts committed prior to such surrender.
(e) No revocation, suspension or surrender of any license shall impair or affect the obligation of any preexisting lawful contract between the licensee and any person.
(f) Every license issued hereunder shall remain in force and effect until the same shall have expired or shall have been surrendered, revoked or suspended in accordance with this chapter, but the Commissioner shall have authority to reinstate a suspended license or to issue a new license to a licensee whose license shall have been revoked if no fact or condition then exists which would have warranted the Commissioner in refusing originally to issue such license under this chapter.
(g) Whenever the Commissioner shall revoke or suspend a license issued pursuant to this chapter, the Commissioner shall forthwith execute a written order to that effect. The Commissioner shall forthwith serve the written order upon the licensee. Any such order may be reviewed in the manner provided by Chapter 101 of Title 29.
66 Del. Laws, c. 22, §  1;  68 Del. Laws, c. 105, §  23;  68 Del. Laws, c. 303, §  37;  70 Del. Laws, c. 186, §  1;  73 Del. Laws, c. 24, §§  7, 8, 9;  77 Del. Laws, c. 126, §  3;  84 Del. Laws, c. 42, § 70;
2023 Delaware Code › Title 5 - Banking › Chapter 22. LICENSED LENDERS › Subchapter I. Licensing › § 2210. Supervision and examination of business by Commissioner.

§ 2210. Supervision and examination of business by Commissioner.
(a) Every person or combination of persons licensed to transact business as provided in this chapter in the State shall be subject to the supervision and examination of the State Bank Commissioner and shall be examined by the Commissioner or the Commissioner's authorized representative annually or at such intervals as the Commissioner deems necessary.
(b) On the occasion of every examination, the Commissioner or the Commissioner's authorized representative shall be given access to every part of the office or place of business visited and to the assets, securities, books and papers of the business.
(c) The examination made by the Commissioner or the Commissioner's authorized representative shall be a thorough examination into the affairs of the business visited, the resources and liabilities, the investment of the funds, the mode of conducting the business and the compliance or noncompliance with this Code or any regulations promulgated thereunder, and any other statutes or regulations of this State or the United States; and in connection with such examination the Commissioner or the Commissioner's authorized representative may examine, under oath or affirmation, any and all persons connected with or associated with the licensee.
(d) If, in the Commissioner's opinion, it is necessary for a thorough examination of a licensee, the Commissioner may retain 1 or more accountants, attorneys, appraisers or other third parties to assist the Commissioner in such examination. Within 10 days after receipt of a statement from the Commissioner, such licensee shall pay or reimburse the fees, costs and expenses of any third parties retained by the Commissioner under this subsection.
(e) The Commissioner may prescribe regulations to carry out the purposes of this chapter.
66 Del. Laws, c. 22, §  1;  68 Del. Laws, c. 303, §  38;  70 Del. Laws, c. 186, §  1;  77 Del. Laws, c. 126, §  4;  84 Del. Laws, c. 42, § 71;
2023 Delaware Code › Title 5 - Banking › Chapter 22. LICENSED LENDERS › Subchapter I. Licensing › § 2211. Maintenance of books and records by licensee.

§ 2211. Maintenance of books and records by licensee.
(a) Every licensee shall maintain such books, accounts and records relating to all transactions within this chapter as will enable the Commissioner to enforce full compliance with this chapter.
(b) Each licensee that engages in the business of making mortgage loans, as defined by § 2403(13) of this title, shall submit to the Nationwide Mortgage Licensing System and Registry developed and maintained by the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators reports of condition, which shall be in such form and shall contain such information as the Nationwide Mortgage Licensing System and Registry may require.
66 Del. Laws, c. 22, §  1;  77 Del. Laws, c. 96, §  4;
2023 Delaware Code › Title 5 - Banking › Chapter 22. LICENSED LENDERS › Subchapter I. Licensing › § 2212. Retention of books and records by licensee.

§ 2212. Retention of books and records by licensee.
All books, accounts and records of the licensee shall be preserved and kept available as provided in this chapter for such period of time as the Commissioner may by regulation require.
66 Del. Laws, c. 22, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 22. LICENSED LENDERS › Subchapter I. Licensing › § 2213. Contents of books and records.

§ 2213. Contents of books and records.
The Commissioner may prescribe the minimum information to be shown in such books, accounts and records of the licensee so that such records will enable the Commissioner to determine compliance with this chapter.
66 Del. Laws, c. 22, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 22. LICENSED LENDERS › Subchapter I. Licensing › § 2213A. Multi-state automated licensing system.

§ 2213A. Multi-state automated licensing system.
(a) The Commissioner is authorized to participate in any automated system involving 1 or more other states that will facilitate any aspect of the application and licensing processes of this chapter.
(b) Upon joining any such system, the Commissioner may by regulation establish:
(1) Any additional requirements for a license under this chapter that the Commissioner determines are necessary for participation in the system;
(2) Prelicensing education and testing, and postlicensing continuing education of individuals employed by the applicants or licensees subject to the system; and
(3) Any additional investigation fees, any fees paid directly to the administrator of the system, or any other fee required by the system to process an application or maintain a license, in such amount as the Commissioner determines is necessary to participate in the system.
(c) The administrator of any such system in which the Commissioner participates is authorized to act on behalf of the Commissioner to collect from the applicants and licensees subject to the system any payments due the Commissioner under this chapter, to collect information and maintain records in electronic or other format relating to those applicants and licensees, and to submit fingerprints and any other information required for a criminal history background check to the Federal Bureau of Investigation or other law-enforcement agency.
(d) Information maintained on any such system in which the Commissioner participates regarding the applicants and licensees subject to the system may be shared with any other state participating in that system for the purpose of licensing, regulating, or supervising that same applicant or licensee under a statute similar to this chapter, if that state could have obtained that same information directly from the applicant or licensee under its own law. The Commissioner shall ensure that the system maintains appropriate confidentiality, privacy, data security, and security breach notification policies that are in full compliance with Delaware law.
76 Del. Laws, c. 264, §  2;
2023 Delaware Code › Title 5 - Banking › Chapter 22. LICENSED LENDERS › Subchapter II. Revolving Credit › § 2214. Definitions.

§ 2214. Definitions.
As used in this subchapter:
(1) “Revolving credit plan” or “plan” means a plan contemplating the extension of credit under an account governed by an agreement between a licensee and a borrower pursuant to which:
a. The licensee permits the borrower and, if the agreement governing the plan so provides, persons acting on behalf of or with authorization from the borrower, from time to time to make purchases from participating merchants and/or to obtain loans by use of a credit device;
b. The amounts of such purchases from participating merchants and loans are charged to the borrower's account under the revolving credit plan;
c. The borrower is required to pay the licensee the amounts of all purchases and loans charged to such borrower's account under the plan but has the privilege of paying such amounts outstanding from time to time in full or otherwise in accordance with the agreement governing the plan; and
d. Interest may be charged and collected by the licensee from time to time on the outstanding unpaid indebtedness under such plan.
(2) “Purchases” mean payments for property of whatever nature, real or personal, tangible or intangible, and payments for services, licenses, taxes, official fees, fines, private or governmental obligations or any other thing of value.
(3) “Loan” means cash advances or loans to be paid to or for the account of the borrower.
(4) “Credit device” means any card, check, identification code or other means of identification contemplated by the agreement governing the plan.
(5) “Outstanding unpaid indebtedness” means on any day an amount not in excess of the total amount of purchases from participating merchants and loans charged to the borrower's account under the plan which is outstanding and unpaid at the end of the day, after adding the aggregate amount of any new purchases from participating merchants and loans charged to the account as of that day and deducting the aggregate amount of any payments and credits applied to that indebtedness as of any day and, if the agreement providing the plan so provides, may include the amount of any interest and additional charges, including late or delinquency charges, which have accrued to the account and which are unpaid at the end of the day. Purchases and loans may be included in outstanding unpaid indebtedness as of such time as may be specified in the agreement governing the plan.
66 Del. Laws, c. 22, §  1;  71 Del. Laws, c. 19, §  63;  72 Del. Laws, c. 15, §  32;
2023 Delaware Code › Title 5 - Banking › Chapter 22. LICENSED LENDERS › Subchapter II. Revolving Credit › § 2215. Extension of credit.

§ 2215. Extension of credit.
Any licensee may offer and extend credit under a revolving credit plan to a borrower and in connection therewith may charge and collect the interest and other charges permitted by this subchapter and may take such security as collateral in connection therewith as may be acceptable to the licensee. Without limitation of the foregoing, credit may be extended under a revolving credit plan by a licensee's acquisition of obligations arising out of the honoring by a merchant, a bank or other financial institution (whether chartered or organized under the laws of this or any other state, the District of Columbia, the United States or any district, territory or possession of the United States, or any foreign country) or a government or governmental subdivision or agency of a credit device made available to a borrower under a plan, whether directly or indirectly by means of telephone, point of sale terminal or other electronic or similar device or through the mail.
66 Del. Laws, c. 22, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 22. LICENSED LENDERS › Subchapter II. Revolving Credit › § 2216. Interest.

§ 2216. Interest.
A licensee may charge and collect interest under a revolving credit plan on outstanding unpaid indebtedness in the borrower's account under the plan at such daily, weekly, monthly, annual or other periodic percentage rate or rates as the agreement governing the plan provides or as established in the manner provided in the agreement governing the plan. Periodic interest may be calculated using an average daily balance, 2-cycle average daily balance, adjusted balance or previous balance method or using any other balance computation method provided for in the agreement governing the plan. Periodic billing cycles may be established in such manner and shall have such duration as may be specified in the agreement governing the plan.
66 Del. Laws, c. 22, §  1;  71 Del. Laws, c. 19, §  64;
2023 Delaware Code › Title 5 - Banking › Chapter 22. LICENSED LENDERS › Subchapter II. Revolving Credit › § 2217. Variable rates.

§ 2217. Variable rates.
If the agreement governing the revolving credit plan so provides, the periodic percentage rate or rates of interest under such plan 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 outstanding unpaid indebtedness under the plan on or after the first day of the billing cycle that contains the effective date of such variation including any such indebtedness arising out of purchases made from a participating merchant or loans obtained prior to such variation in the periodic percentage rate or rates. Without limitation, a permissible schedule or formula hereunder may include provision in the agreement governing the plan for a change in the periodic percentage rate or rates of interest applicable to all or any part of outstanding unpaid indebtedness, 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, which event or circumstance may include the failure of the borrower to perform in accordance with the terms of the plan. Nothing herein precludes a licensee from charging or reserving a right to charge, by discretion or otherwise, a rate lower than any maximum rate provided for in any schedule or formula.
66 Del. Laws, c. 22, §  1;  68 Del. Laws, c. 303, §  39;  71 Del. Laws, c. 19, §  65;  77 Del. Laws, c. 279, §  2;
2023 Delaware Code › Title 5 - Banking › Chapter 22. LICENSED LENDERS › Subchapter II. Revolving Credit › § 2219. Terms for indebtedness.

§ 2219. Terms for indebtedness.
A licensee may, if the agreement governing a revolving credit plan so provides, impose different terms (including, without limitation, the terms governing the periodic percentage rate or rates used to calculate interest, the method of computing the outstanding unpaid indebtedness to which such rate or rates are applied, the amounts of other charges and the applicable installment repayment schedule) in respect to indebtedness arising out of purchases and indebtedness arising out of loans made under the plan.
66 Del. Laws, c. 22, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 22. LICENSED LENDERS › Subchapter II. Revolving Credit › § 2220. Omitted installments.

§ 2220. Omitted installments.
A licensee may at any time and from time to time unilaterally extend to a borrower under a revolving credit plan the option of omitting monthly installments.
66 Del. Laws, c. 22, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 22. LICENSED LENDERS › Subchapter II. Revolving Credit › § 2221. Insurance.

§ 2221. Insurance.
(a) A licensee may request but not require an individual borrower to be insured in respect of a revolving credit plan under a life, health, accident, health and accident or other credit or other permissible insurance policy, whether group or individual, and in the event that an individual borrower's outstanding unpaid indebtedness under the plan is secured by an interest in real or personal property, a licensee may require the borrower to obtain insurance, from an insurer acceptable to the licensee, against loss of or damage to such property or against the liability arising out of the ownership or use of the property and may finance the premiums for such insurance.
(b) The offer and placement of insurance under this section shall be subject in all respects to the applicable provisions of Title 18.
66 Del. Laws, c. 22, §  1;
2023 Delaware Code › Title 5 - Banking › Chapter 22. LICENSED LENDERS › Subchapter II. Revolving Credit › § 2222. Delinquent installments.

§ 2222. Delinquent installments.
(a) If the agreement governing a revolving credit plan so provides, a licensee may impose, as interest, a late or delinquency charge upon any outstanding unpaid installment payments or portions thereof under the plan which are in default; provided, however, that no more than 1 such late or delinquency charge may be imposed in respect of any single such installment payment or portion thereof regardless of the period during which it remains in default; and provided further, however, that for the purpose only of the preceding provision all payments by the borrower shall be deemed to be applied to satisfaction of installment payments in the order in which they become due. Nothing contained in this section shall limit, restrict or otherwise affect the right of a licensee under and pursuant to §§ 2216 and 2217 of this title to change the periodic percentage rate or rates of interest applicable to the revolving credit plan between the licensee and a borrower upon the occurrence of a delinquency or default or other failure of the borrower to perform in accordance with the terms of the plan.
(b) No charges assessed by a licensee in accordance with this section shall be deemed void as a penalty or otherwise unenforceable under any statute or the common law.
66 Del. Laws, c. 22, §  1;  68 Del. Laws, c. 303, §  40;  70 Del. Laws, c. 327, §  45;  71 Del. Laws, c. 19, §  68;
2023 Delaware Code › Title 5 - Banking › Chapter 22. LICENSED LENDERS › Subchapter II. Revolving Credit › § 2223. Attorney's fees; costs.

§ 2223. Attorney's fees; costs.
In the event a borrower defaults under the terms of a plan, the licensee may, if the borrower's account is referred to an attorney (not a regularly salaried employee of the licensee) or to a third party for collection and if the agreement governing the revolving credit plan so provides, charge and collect from the borrower a reasonable attorney's fee. In addition, following a borrower's default, the licensee may, if the agreement governing the plan so provides, recover from the borrower all court, alternative dispute resolution or other collection costs (including, without limitation, fees and charges of collection agencies) actually incurred by the licensee.
66 Del. Laws, c. 22, §  1;  72 Del. Laws, c. 15, §  33;