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What must happen immediately after recovery on a Delaware MLO bond action?

Correct Answer

A) The licensee must file a new bond

Delaware Code states that immediately upon recovery on any action on the bond, the licensee shall file a new bond.

Answer Options
A
The licensee must file a new bond
B
The licensee is exempt from all future bond requirements
C
The borrower must file the new bond
D
The licensee can wait until the next 5-year retest period

Why This Is the Correct Answer

Delaware Code states that immediately upon recovery on any action on the bond, the licensee shall file a new bond.

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