38.2-1818 - Individual moving from another state or Canadian province.
§ 38.2-1818. Individual moving from another state or Canadian province.
A. An individual holding a nonresident Virginia agent license who has movedinto this Commonwealth from another state or a province of Canada shallsubmit the application and pay the license processing fee required by §38.2-1819 and in accordance with the requirements set forth in § 38.2-1836.Agents with active nonresident Virginia agent licenses may continue tooperate under their nonresident licenses for up to ninety calendar days whileapplying for resident Virginia agent's licenses. Appointments made under suchnonresident licenses shall remain in effect during the ninety-calendar-dayperiod, unless terminated for other reasons. Appointments held by an agentunder a nonresident Virginia agent license shall automatically be convertedto resident agent appointments if the agent obtains an equivalent residentVirginia agent license during the ninety-calendar-day period. If an agentfails to obtain such resident license by the end of the ninety-calendar-dayperiod, the equivalent nonresident license and all associated appointmentsunder that license shall terminate at the end of the ninety-calendar-dayperiod.
B. An individual licensed as an insurance producer in another state orprovince of Canada, but not holding a nonresident Virginia agent license, whomoves to this Commonwealth shall submit the application to become a residentlicensee and shall pay the license processing fee required by § 38.2-1819 andin accordance with the requirements of § 38.2-1836 within ninety calendardays of establishing legal residence in this Commonwealth. No prelicensingexamination shall be required of that individual to obtain any line ofauthority previously held in the prior state except where the Commissiondetermines otherwise by regulation. After establishing legal residence inthis Commonwealth and prior to obtaining a license as a resident agent, theindividual shall be prohibited from selling, soliciting, or negotiatinginsurance in this Commonwealth. An individual who fails to submit theapplication and license processing fee within ninety calendar days ofestablishing legal residence in this Commonwealth shall be required tosatisfy all resident agent prelicensing requirements in order to be issued alicense.
(1979, c. 513, § 38.1-327.19; 1980, c. 743; 1986, c. 562; 1987, c. 521; 1997,c. 583; 2001, c. 706.)