5 Del. Admin. Code § 2204
5 Del.C. §2208
Effective Date: April 11, 2014
Each licensee shall file with the State Bank Commissioner (the “Commissioner”) an original corporate surety bond or an irrevocable letter of credit, in a form satisfactory to the Commissioner, in accordance with5 Del.C. §2208. The minimum amount of the surety bond or irrevocable letter of credit is based on the factors identified in that section.
2.1 Each licensee shall obtain a surety bond or irrevocable letter of credit in an amount that correlates with the licensee’s volume of Delaware lending for the year ending December 31 that precedes the effective year of the license under5 Del.C. Ch. 22. A licensee who obtains a surety bond that is effective for more than one year or an irrevocable letter of credit shall annually review the amount of the surety bond or irrevocable letter of credit as of December 31 of each year to ensure that the minimum required amount is maintained. The minimum required amount of the surety bond or irrevocable letter of credit shall be maintained according to the following table:
| Annual Volume of Delaware Loans | Minimum Required Amount of Surety Bond or Irrevocable Letter of Credit |
| not more than $23,000,000 | $50,000 |
| $23,000,001 - $35,000,000 | $75,000 |
| $35,000,001 - $47,000,000 | $100,000 |
| $47,000,001 - $59,000,000 | $125,000 |
| $59,000,001 - $71,000,000 | $150,000 |
| $71,000,001 - $83,000,000 | $175,000 |
| $83,000,001 and over | $200,000 |