# Delaware SB 18: AN ACT TO AMEND TITLE 5 OF THE DELAWARE CODE RELATING TO MONEY TRANSMISSION. Delaware SB 18, AN ACT TO AMEND TITLE 5 OF THE DELAWARE CODE RELATING TO MONEY TRANSMISSION., is a 153rd General Assembly (2024–2026) Senate bill sponsored by Spiros Mantzavinos (Democratic); status signed, last action 2026-07-06 (Signed by Governor) (as of 2026-10-19). - Canonical: https://policyrisk.com/state-bill/DE-SB18-153 - As of: 2026-10-19 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: Delaware SB 18 - State: Delaware - Session: 153rd General Assembly (2024–2026) - Title: AN ACT TO AMEND TITLE 5 OF THE DELAWARE CODE RELATING TO MONEY TRANSMISSION. - Status: signed - Chamber: Senate - Introduced: 2026-04-16 - Last action: 2026-07-06, Signed by Governor - Sponsor: Spiros Mantzavinos (Democratic) - Cosponsors: 4 - Touches household money: no - Roll calls: 3 (79 yes, 0 no in all) - Economic provisions PRIA read: 18 ## Summary No summary available. ## Bill overview: provisions PRIA read - Bond protection for money-transfer customers: benefit, medium. Each licensee must file a $100,000–$500,000 corporate surety bond, with the amount set by the Commissioner using liabilities, finances, and other factors. The bond protects the State and consumers’ actual losses from specified wrongdoing, excluding business creditors, specified service providers, a… - Stronger protection for customers’ virtual currency: benefit, medium. Licensed companies holding customers’ virtual currency must keep enough of each type to cover what customers are owed. That currency belongs to customers, not the company, and the company’s creditors cannot claim it. If holdings fall short, customers share the available currency in proportion to wh… - Clearer receipts for money-transfer customers: benefit, low. For covered personal transfers, licensed companies and their agents must give you a receipt. It must list the parties, date, transaction number, dollar amount, fees, taxes, and company name, licensing ID, address, and phone number. Receipts must use English and every other language mainly used at t… - Clearer terms for virtual-currency customers: benefit, low. Before starting a customer relationship, licensed virtual-currency companies must give separate, clear disclosures in plain language you can keep. Applicable disclosures cover fees and calculations, deposit or private insurance, guarantees, irreversible transfers, timing, and responsibility for err… - Refund rights for money-transfer customers: benefit, low. Licensed companies must send your money as agreed, unless they reasonably suspect fraud, crime, or another legal violation. If you ask about a delay, they must explain unless the law bars an answer. For covered transfers, they must refund all money received for transmission within 10 days of your w… - Paystub access for covered payroll workers: benefit, low. Licensed money-transfer companies handling payroll must make workers’ paystubs or similar statements available. They must also give clients reports showing payroll obligations before payroll money is deducted from an account. These duties do not apply when the client names the intended recipients a… - Money transfers cannot bypass licensing rules: benefit, low. In Delaware, no one may handle money transfers for a provider that is neither licensed nor legally exempt. Anyone who breaks this rule is treated as providing money transmission, just like a licensed provider. Both parties share legal responsibility, and either can be held responsible for the full… - Shared licensing systems with privacy safeguards: benefit, low. The Commissioner may join an automated licensing system with other states. Its administrator may collect fees and application information, keep records, and submit fingerprints for background checks. Information sharing is limited to participating states’ licensing, regulation, or supervision needs… - Transition time for transfer and payroll providers: benefit, low. The act takes effect on enactment, with implementation by one year later or notice of final regulations, whichever comes first. Existing licensees are exempt from conflicting or newly imposed requirements until the later of current-license renewal or 12 months after effectiveness. Agent contracts f… - License fees for money-transfer businesses: cost, low. Money-transfer license applicants pay a non-refundable $172.50 investigation fee when applying. The initial license and each annual renewal cost $230, plus $4.60 for each Delaware authorized-agent location beyond the first. The initial license fee is due upon approval. Renewal fees cannot be paid m… - Approval and shortcuts for transmitter buyers: mixed, low. Buyers taking control generally need written approval, licensee cooperation, fitness review, new-key-person information, and a non-refundable $172.50 investigation fee. Exemptions cover specified proxy voting, inheritance, fiduciary acquisitions, exempt persons, public offerings, and reorganization… - Financial backing rules for money transmitters: mixed, low. Licensees must always maintain tangible net worth equal to the greater of $100,000 or a tiered asset calculation. The calculation adds 3% of the first $100 million, 2% above $100 million through $1 billion, and 0.5% above $1 billion. Financial statements must show compliance; the Commissioner may g… - Fund safeguards and limits for agents: mixed, low. Before appointing agents, licensees need written compliance policies, signed contracts, and reasonable risk-based background checks. Contracts must address legal compliance, fund handling, records, responsibilities, and consent to regulatory examination. Agents hold transfer money, minus fees, in t… - Licenses and exemptions for money-transfer providers: mixed, low. Delaware requires licenses to provide or advertise covered transfers, payment instruments, stored value, payroll processing, and virtual-currency services for others. Contracted authorized agents need no separate license; providers may use location records for online or phone transactions. Exemptio… - Recordkeeping and reporting for transfer businesses: mixed, low. Licensees and applicable agents must keep business and transaction records for periods set by regulation. Required reports include financial condition, income, agent information, audited statements, and events specified by the Commissioner. They must meet currency and anti-money-laundering reportin… - Review deadlines for transmitter leadership changes: mixed, low. A money transmitter must report a new or replacement key person within 15 days after the appointment takes effect. It must provide the required information within 45 days. The Commissioner has 90 days after finding the notice complete to disapprove the person based on competence, experience, charac… - Screening and renewal rules for transmitters: mixed, low. Applicants must provide business information; the Commissioner reviews finances and fitness, may require fingerprints, and may inspect at the applicant’s expense. Applicants and key people must meet public-interest standards, and licensees must keep meeting licensing requirements or face suspension… - State checks and discipline for transmitters: mixed, low. The Commissioner examines licensees annually or at intervals deemed necessary and can inspect their operations, assets, and records. Licensees must pay outside examination costs within 10 days after receiving the Commissioner’s bill. Listed grounds for license suspension, revocation, or agent remov… ## Sponsors and cosponsors - Sponsor: Spiros Mantzavinos (Democratic), Senate - Cosponsor: William Bush (Democratic), House - Cosponsor: Kerri Evelyn Harris (Democratic), House - Cosponsor: Brian Pettyjohn (Republican), Senate - Cosponsor: Jeffrey N. Spiegelman (Republican), House ## Roll call votes | Date | Chamber | Motion | Result | Yes | No | Other | | --- | --- | --- | --- | --- | --- | --- | | 2026-06-24 | Senate | Passed (3/4 required) | pass | 21 | 0 | | | 2026-06-18 | House | Passed (2/3 required) | pass | 38 | 0 | | | 2026-05-05 | Senate | Passed (2/3 required) | pass | 20 | 0 | | ## Actions (15) - 2026-07-06: Signed by Governor (Governor) - 2026-06-24: Passed By Senate. Votes: 21 YES (Senate) - 2026-06-18: Passed By House. Votes: 38 YES 3 ABSENT (House) - 2026-06-18: Amendment HA 2 to SB 18 - Passed In House by Voice Vote (House) - 2026-06-18: Amendment HA 1 to SB 18 - Stricken in House (House) - 2026-06-18: Amendment HA 2 to SB 18 - Introduced and Placed With Bill (Senate) - 2026-06-04: Amendment HA 1 to SB 18 - Introduced and Placed With Bill (Senate) - 2026-05-19: Reported Out of Committee (Economic Development/Banking/Insurance & Commerce) in House with 9 On Its Merits (House) - 2026-05-13: Not Worked in Committee (Senate) - 2026-05-06: Assigned to Economic Development/Banking/Insurance & Commerce Committee in House (House) - 2026-05-05: Passed By Senate. Votes: 20 YES 1 NOT VOTING (Senate) - 2026-05-05: Amendment SA 1 to SB 18 - Passed By Senate. Votes: 21 YES (Senate) - 2026-05-04: Amendment SA 1 to SB 18 - Introduced and Placed With Bill (Senate) - 2026-04-22: Reported Out of Committee (Banking, Business, Insurance & Technology) in Senate with 2 Favorable, 4 On Its Merits (Senate) - 2026-04-16: Introduced and Assigned to Banking, Business, Insurance & Technology Committee in Senate (Senate) ## Bill text - Current, 2026-04-16: [HTML](https://legis.delaware.gov/json/BillDetail/GenerateHtmlDocument?legislationId=143117&legislationTypeId=1&docTypeId=2) ## Related bills - HS 1 for HB 449: AN ACT TO AMEND TITLE 24 OF THE DELAWARE CODE RELATING TO THE DIETITIAN/NUTRITIONIST LICENSURE ACT. (passed house) - HB 357: AN ACT TO AMEND TITLES 10 AND 13 OF THE DELAWARE CODE RELATING TO THE DUTY TO SUPPORT POOR PERSONS. (signed) - SB 231: AN ACT TO AMEND TITLE 14 OF THE DELAWARE CODE RELATING TO SCHOOL SOCIAL WORKERS. (vetoed) - SB 279: AN ACT TO AMEND TITLE 14 OF THE DELAWARE CODE RELATING TO SCHOOL-BASED OCCUPATIONAL THERAPISTS. (vetoed) - HB 393: AN ACT TO AMEND TITLE 26 OF THE DELAWARE CODE RELATING TO PROTECTIONS FOR PUBLIC UTILITY CONSUMERS. (vetoed) - HB 356: AN ACT TO AMEND TITLE 16 OF THE DELAWARE CODE RELATING TO PFAS IN FIREFIGHTING FOAM AND EQUIPMENT. (failed) ## Sources - [Current (HTML)](https://legis.delaware.gov/json/BillDetail/GenerateHtmlDocument?legislationId=143117&legislationTypeId=1&docTypeId=2) ## Related - [HS 1 for HB 449: AN ACT TO AMEND TITLE 24 OF THE DELAWARE CODE RELATING TO THE DIETITIAN/NUTRITI…](https://policyrisk.com/state-bill/DE-HS1FORHB449-153) - [HB 357: AN ACT TO AMEND TITLES 10 AND 13 OF THE DELAWARE CODE RELATING TO THE DUTY TO S…](https://policyrisk.com/state-bill/DE-HB357-153) - [SB 231: AN ACT TO AMEND TITLE 14 OF THE DELAWARE CODE RELATING TO SCHOOL SOCIAL WORKERS.](https://policyrisk.com/state-bill/DE-SB231-153) - [SB 279: AN ACT TO AMEND TITLE 14 OF THE DELAWARE CODE RELATING TO SCHOOL-BASED OCCUPATI…](https://policyrisk.com/state-bill/DE-SB279-153) - [HB 393: AN ACT TO AMEND TITLE 26 OF THE DELAWARE CODE RELATING TO PROTECTIONS FOR PUBLI…](https://policyrisk.com/state-bill/DE-HB393-153) - [HB 356: AN ACT TO AMEND TITLE 16 OF THE DELAWARE CODE RELATING TO PFAS IN FIREFIGHTING…](https://policyrisk.com/state-bill/DE-HB356-153) - [Delaware bills](https://policyrisk.com/states/delaware/bills) - [Delaware state hub](https://policyrisk.com/states/delaware) - [All state legislation](https://policyrisk.com/state-bills) Source: PRIA, https://policyrisk.com/state-bill/DE-SB18-153 (as of 2026-10-19).