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HA2TOSS2FORSB19 • 2025

House Amendment No.

House Amendment No.

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor
Bush
Last action
2026-06-18
Official status
Passed 6/18/26
Effective date
Not listed

Plain English Breakdown

The effective date is not listed in the provided official materials.

House Amendment No. 2 to Senate Substitute No. 2 for Senate Bill 19

This amendment updates rules by changing the definition of a resident, simplifying how licenses from other states are accepted, and removing registration requirements for federally supervised entities.

What This Bill Does

  • Removes 'registered agent' from the legal definition of a resident person.
  • Eliminates the rule requiring state officials to check if another state's laws are similar before accepting out-of-state licenses.
  • Stops requiring proof that other states have consumer protections equal to this state for license recognition.
  • Deletes Section 3514, which previously required federally supervised entities to register with the Commissioner.
  • Updates related sections of the law to match these new changes.

Who It Names or Affects

  • People or businesses applying for licenses in this state who are already licensed elsewhere.
  • Federally supervised financial entities that previously had to register under Section 3514.
  • The Commissioner responsible for reviewing license applications and regulatory frameworks.

Terms To Know

Reciprocal recognition
A process where this state accepts a valid license from another state without requiring the applicant to go through the full review again, provided they submit required registration and evidence of licensure.
Commissioner
The government official in charge of overseeing licenses and regulations under this Act.

Limits and Unknowns

  • The text does not state when these changes will officially take effect.
  • The source material does not explain the specific reasons why 'registered agent' was removed from the definition of resident.
  • No information is provided about how many entities were previously registered under Section 3514.

Bill History

  1. 2026-06-18 Delaware General Assembly

    Introduced and Placed With Bill

  2. 2026-06-18 Delaware General Assembly

    Passed In House by Voice Vote

Official Summary Text

House Amendment No. 2 to Senate Substitute No. 2 for Senate Bill 19 makes the following changes:
1. Removes “registered agent” from the definition of “resident.”
2. For reciprocal recognition, removes the requirement that the Commissioner determine the regulatory framework of the other state is substantially similar to those under the Act and removes the requirement that the other state’s framework have materially equivalent consumer protections.
3. Removes § 3514, which required registration of federally supervised entities and makes conforming changes throughout.

Current Bill Text

Read the full stored bill text 
Legislation Document

SPONSOR:

Rep. Bush

HOUSE OF REPRESENTATIVES

153rd GENERAL ASSEMBLY

HOUSE AMENDMENT NO. 2

TO

SENATE SUBSTITUTE NO. 2

FOR

SENATE BILL NO. 19

AMEND Senate Substitute No. 2 for Senate Bill No. 19

on line 198 by deleting “

person or registered agent,

” and inserting in lieu thereof “

person,

”.

FURTHER AMEND Senate Substitute No. 2 for Senate Bill No. 19 on line 232 by deleting “

activities, provided that such issuer registers with the Commissioner pursuant to § 3514 of this title.

” and inserting in lieu thereof “

activities.

”.

FURTHER AMEND Senate Substitute No. 2 for Senate Bill No. 19 on lines 234 and 235 by deleting “

§ 5904, provided that such subsidiary registers with the Commissioner pursuant to § 3514 of this title.

” and inserting in lieu thereof “

§ 5904.

”.

FURTHER AMEND Senate Substitute No. 2 for Senate Bill No. 19 by deleting lines 351 through 363 in their entirety and inserting in lieu thereof the following:

“

(a)

An

applicant

licensed

in

another

state

is

eligible

for

a

license

in

this

State

without full

duplicative

review,

if

all

of

the

following

conditions

are

satisfied:

(1) The

applicant

holds

a

valid

license

in

good standing

from

the

other

state.

(2)

The

applicant

submits

a

registration

in

the

form

required

by

the Commissioner,

along

with evidence

of

the applicant’s out-of-state

licensure.

(

b)

A

license

issued

under

this

section

does

not

require

the

applicant

to

establish

a

separate

legal entity

in

this

State.

”.

FURTHER AMEND Senate Substitute No. 2 for Senate Bill No. 19 by deleting lines 364 through 386 in their entirety and inserting in lieu thereof the following:

“

§ 3514. [Reserved.]

”.

FURTHER AMEND Senate Substitute No. 2 for Senate Bill No. 19 by deleting lines 481 and 482 in their entirety and redesignating accordingly.

FURTHER AMEND Senate Substitute No. 2 for Senate Bill No. 19 on lines 561 and 562 by deleting “

issuer registered under § 3514 of this title,

” and inserting in lieu thereof “

issuer,

”

FURTHER AMEND Senate Substitute No. 2 for Senate Bill No. 19 by deleting line 1070 in its entirety and redesignating accordingly.

FURTHER AMEND Senate Substitute No. 2 for Senate Bill No. 19 by deleting line 1149 in its entirety and redesignating accordingly.

SYNOPSIS

House Amendment No. 2 to Senate Substitute No. 2 for Senate Bill 19 makes the following changes:

1. Removes “registered agent” from the definition of “resident.”

2. For reciprocal recognition, removes the requirement that the Commissioner determine the regulatory framework of the other state is substantially similar to those under the Act and removes the requirement that the other state’s framework have materially equivalent consumer protections.

3. Removes § 3514, which required registration of federally supervised entities and makes conforming changes throughout.