522B.13 - APPOINTMENTS.
522B.13 APPOINTMENTS. 1. An individual insurance producer who acts as an agent of an insurer must be appointed by that insurer. An insurance producer who is not acting as an agent of an insurer need not be appointed. A business entity is not required to be appointed. 2. The appointing insurer, for the purpose of appointing an insurance producer as its agent, shall file, in a format approved by the commissioner, a notice of appointment within thirty days from the date the agency contract is executed or the first insurance application is submitted. 3. An insurer shall pay an appointment fee, in the amount and method of payment set forth by rule of the commissioner, for each insurance producer appointed by the insurer. 4. An insurer shall remit a renewal appointment fee in the manner and amount as set forth by rule of the commissioner.
Section History: Recent Form 2001 Acts, ch 16, §27, 37