Delaware § 2506 - Effective date of filing.

§ 2506. Effective date of filing.

(a) The Commissioner shall review filings as soon as reasonably possible after they have been made in order to determine whether they meet the requirements of this chapter.

(b) Any special filing with respect to a surety or guaranty bond required by law or by court or executive order or by order, rule or regulation of a public body, not covered by a previous filing, shall become effective when filed and shall be deemed to meet the requirements of this chapter until such time as the Commissioner rejects the filing.

(c) Filings shall be submitted to the Commissioner not less than 60 days prior to the proposed effective date. Except as set forth in subsection (b) of this section and § 2504(c) of this title, a filing shall be deemed to meet the statutory requirements of this chapter at the expiration of the 60-day period following the filing date unless, within 45 days of receipt of the filing, the Commissioner either disapproves the filing or notifies the insurer that additional time is needed to review the filing. If the Commissioner determines that additional time is needed to review a rate filing, then each of the following shall apply:

(1) The Commissioner shall notify the filer that the review of the filing shall be extended up to 90 days after the receipt of the filing, unless the insurer shall agree to a longer term of review.

(2) The filing may not become effective and deemed to meet the statutory requirements of this chapter until the earlier of the Commissioner’s approval of the filing or the expiration of the timeframe provided in the Commissioner’s notice of extended review.

(d), (e) [Repealed.]

18 Del. C. 1953, §  2506;  56 Del. Laws, c. 380, §  1;  64 Del. Laws, c. 380, §§  1, 2;  70 Del. Laws, c. 186, §  1;  77 Del. Laws, c. 93, §  1;  84 Del. Laws, c. 186, § 1;