Licensing Requirements
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Statutes
Every person desiring to transact the business of lending money in the State shall be required to obtain a license. A person that makes not more than 5 loans within any 12-month period shall be deemed not to be transacting the business of lending money. (5 Del.C. § 2202) Persons lending money without a license shall be fined not less than $50 nor more than $200 for each offense, or imprisoned not more than 3 months, or both. (5 Del.C. § 2240)
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Contributors
Lawrence F. Flick, II
Blank Rome LLP
The statutory information was edited and reviewed with the support of MultiState
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