Reporting of Assets and Liabilities

Karen Weldin Stewart, CIR-ML Commissioner  Delaware Department of Insurance # PRODUCERS & ADJUSTERS BULLETIN NO. 26 TO: ALL PROPERTY BAIL AGENTS RE: Reporting of Assets and Liabilities DATED: October 16, 2015 Pursuant to 18 Del. C. § 4333B, applicants for property bail agent licenses are required to file with the Commissioner a statement under oath of the assets and liabilities of the applicant. In addition, property bail agents have the duty, upon the Commissioner's request, to furnish the Commissioner with a statement under oath of such property bail agent's assets and liabilities. The purpose of this Bulletin is to set forth a list of acceptable assets that should be included in any statement submitted to the Commissioner. Any "assets" submitted by a property bail agent that do not conform to the below will not be considered an asset for purposes of Chapter 43 of the Delaware Insurance Code, and a property bail agent submitting a statement that contains property not considered to be assets in accordance with the below list may be required to resubmit such statement in conformity with this Bulletin. 1. Real Property to Include: a. Real Estate i.e.: homes, building, land etc. The following is required to list real estate: 1. Physical address of the property. 2. Value of the real estate as reflected on an appraisal or tax assessment. 3. Total lien or obligation. 4. Total equity pledged. 2. Part 1 - Cash: a. Cash accounts must be held by an FDIC-insured financial institution. b. The following will be listed for each account: 1. Name and address of financial institution. 2. Name(s) on the account. 3. Type of account. 4. Account number. 5. Account value. 6. Amount pledged. 841 Silver Lake Blvd., Dover, DE 19904-2465 ♦ www.delawareinsurance.gov (302) 674-7300 Dover ♦ (302) 739-5280 fax ♦ (302) 577-5280 Wilmington # Part 2 - Certificate of Deposit: a. Certificate of Deposit accounts must be issued by an FDIC-insured financial institution. b. The following will be listed for each CD: 1. Name and address of financial institution. 2. Name(s) on account or payee of security (as it reads on the CD). 3. ID number of CD. 4. First Maturity date. 5. Amount of security. 6. Amount pledged. Any questions, comments or requests for clarification about Producers and Adjusters Bulletin No. 26 should be emailed to: licensing@state.de.us. This Bulletin shall be effective immediately and shall remain in effect unless withdrawn or superseded by subsequent law, regulation or bulletin. Karen Weldin Stewart, CIR-ML Insurance Commissioner 2