DE SB229

Requires applicants for Delaware resident producer licenses to either be Delaware residents or work for a business entity licensed to conduct insurance business in Delaware with a physical location open to the public in the state.

Prohibits applicants from using registered agent services or Delaware postal boxes to establish residency requirements for licensure.

Adds a new subsection (5) to § 1706 of Title 18 establishing these residency and physical location requirements as conditions for approval of resident producer license applications.

Applies to new applicants for Delaware resident producer licenses upon enactment.

Aims to reduce improper marketing of insurance plans by bad actors seeking to avoid regulatory oversight through licensing practices.