18 Del. Admin. Code § 302-11.0

Current through Register Vol. 28, No. 5, November 1, 2024

Section 302-11.0 - Members of Governing Body and Executive Management

11.1 Every company shall report to the Commissioner within thirty days after any change in its executive officers, directors, trustees, members, partners, executive managers, or other persons comprising the governing body of the company (hereinafter "Executive Persons"), including in its report a statement of the business and professional affiliations of any new Executive Person.

11.2 Except as otherwise permitted under the company's plan of operation, no Executive Person, officer or employee of a company shall, except on behalf of the company, accept, or be the beneficiary of, any fee, brokerage, gift, or other emolument because of any investment, loan, deposit, purchase, sale, payment or exchange made by or for the company.

11.3 Any amounts received by or on behalf of any person in violation of this section shall inure to and be recoverable by the company.

18 Del. Admin. Code § 302-11.0