Delaware § 3205 - Qualifications.
Full text of Delaware Delaware Code § 3205 — Qualifications., with citation guidance and answers to common questions.
§ 3205. Qualifications.
To qualify for a license hereunder an applicant shall meet the following requirements:
(1) The applicant shall have a net worth of at least $50,000, computed according to generally accepted accounting principles.
(2) The financial responsibility, financial condition, and business experience, and character and general fitness of the applicant shall be such as reasonably to warrant the belief that applicant’s business will be conducted honestly, carefully and efficiently. To the extent deemed advisable by the Commissioner, the Commissioner may investigate and consider the qualifications of the applicant including officers and directors of an applicant in determining whether this qualification has been met.
5 Del. C. 1953, § 3205; 58 Del. Laws, c. 423.;Frequently Asked Questions About Delaware § 3205
What does Delaware Code § 3205 cover?
Section 3205 ("Qualifications.") is part of the Delaware Code, the codified statutory law of Delaware. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Delaware § 3205?
A common citation format is "Delaware Code § 3205" (Delaware). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Delaware law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Delaware official source linked on this page or consult a licensed Delaware attorney.
How does Delaware § 3205 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Delaware can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Delaware.