18 Del. Admin. Code § 505-3.0
Current through Register Vol. 28, No. 5, November 1, 2024
The following words and terms, when used in this regulation, shall have the following meaning unless the context clearly indicates otherwise:
"Anti-commingling" is when the agent is required to keep premium monies in a separate account from the agency's capital, operating or other monies.
"Commingling" is the act of maintaining all fiduciary funds and some or all of the agency's other funds in a single banking account.
"Fiduciary capacity" is the position of a person who acts on behalf of another in matters involving property or money. The term implies a position of trust and power in which confidence is placed and responsibility and good faith are required.
18 Del. Admin. Code § 505-3.0