§ 27-2.4-10 - Nonresident licensing.
SECTION 27-2.4-10
§ 27-2.4-10 Nonresident licensing. –(a) Unless denied licensure pursuant to § 27-2.4-14, a nonresident personshall receive a nonresident insurance producer license if:
(1) The person is currently licensed as a resident and ingood standing in his or her home state;
(2) The person has submitted the proper request for licensureand has paid the fees required by § 27-2.4-4;
(3) The person has submitted or transmitted to the insurancecommissioner the application for licensure that the person submitted to his orher home state, or in lieu of that application, a completed uniformapplication; and
(4) The person's home state awards nonresident insuranceproducer licenses to residents of this state on the same basis.
(b) The insurance commissioner may verify the insuranceproducer's licensing status through the producer database maintained by theNAIC, its affiliates or subsidiaries.
(c) A nonresident insurance producer who moves from one stateto another state or a resident insurance producer who moves from this state toanother state shall file a change of address and provide certification from thenew resident state within thirty (30) days of the change of legal residence. Nofee or license application is required.
(d) Notwithstanding any other provision of this chapter, aperson licensed as a surplus lines broker in his or her home state shallreceive a nonresident surplus lines broker license pursuant to subsection (a)of this section. Except as provided in subsection (a) of this section, nothingin this section amends or supersedes any provision of chapter 3 of this title.
(e) Notwithstanding any other provision of this chapter, aperson licensed as a limited line credit insurance or other type of limitedlines insurance producer in his or her home state shall receive a nonresidentlimited lines insurance producer license, pursuant to subsection (a) of thissection, granting the same scope of authority as granted under the licenseissued by the insurance producer's home state. For purposes of this section,"limited line insurance" is any authority granted by the home state whichrestricts the authority of the insurance producer to less than the totalauthority prescribed in associated major lines pursuant to §27-2.4-9(a)(1) – (a)(8).