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A Delaware MLO compliance question cites Commissioner Regulation 2401. What is the regulation implementing?

Correct Answer

D) Delaware Code Title 5 Chapter 24, the Delaware SAFE Act for MLOs

The Delaware regulator identifies Regulation 2401 as implementing Chapter 24, Title 5 of the Delaware Code, the Delaware SAFE Act for MLOs.

Answer Options
A
The Delaware corporate franchise tax statute
B
A county deed-recording ordinance
C
Only a private NMLS policy with no Delaware statutory link
D
Delaware Code Title 5 Chapter 24, the Delaware SAFE Act for MLOs

Why This Is the Correct Answer

The Delaware regulator identifies Regulation 2401 as implementing Chapter 24, Title 5 of the Delaware Code, the Delaware SAFE Act for MLOs.

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