Delaware § 1604 - Required contract provisions; reinsurance intermediary-brokers.
Full text of Delaware Delaware Code § 1604 — Required contract provisions; reinsurance intermediary-brokers., with citation guidance and answers to common questions.
§ 1604. Required contract provisions; reinsurance intermediary-brokers.
Transactions between an RB and the insurer it represents in such capacity shall only be entered into pursuant to a written authorization, specifying the responsibilities of each party. The authorization shall, at a minimum, contain provisions that:
(1) The insurer may terminate the RB’s authority at any time.
(2) The RB will render accounts to the insurer accurately detailing all material transactions, including information necessary to support all commissions, charges and other fees received by, or owing to, the RB, and remit all funds due to the insurer within 30 days of receipt.
(3) All funds collected for the insurer’s account will be held by the RB in a fiduciary capacity in a bank which is a qualified United States financial institution as defined herein.
(4) The RB will comply with § 1605 of this title.
(5) The RB will comply with the written standards established by the insurer for the cession or retrocession of all risks.
(6) The RB will disclose to the insurer any relationship with any reinsurer to which business will be ceded or retroceded.
68 Del. Laws, c. 69, § 1;Source: official Delaware text · Last verified 2026-08-27
Frequently Asked Questions About Delaware § 1604
What does Delaware Code § 1604 cover?
Section 1604 ("Required contract provisions; reinsurance intermediary-brokers.") 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 § 1604?
A common citation format is "Delaware Code § 1604" (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 § 1604 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.