20-281. Definitions In this article, unless the context otherwise requires: 1. " Business entity" means any corporation, association, partnership, limited liability company, limited liability partnership or other legal entity except an individual or sole proprietorship. 2. " Designated producer" means the individual insurance producer that a business entity designates pursuant to section 20-285, subsection C, […]
20-282. License required A person shall not sell, solicit or negotiate insurance in this state for any class or classes of insurance unless the person is licensed for that line of authority in accordance with this article.
20-283. Exceptions to insurance producer licensing A. An insurer is not required to obtain an insurance producer license. In this section, insurer does not include an insurer’s officers, directors, employees, subsidiaries or affiliates. B. The following persons are not required to obtain a license as an insurance producer: 1. An officer, director or employee of […]
20-284. Application for examination A. A resident individual applying for an insurance producer license shall pass an examination within the one year period that precedes the date the director received the individual’s license application unless the individual is exempt pursuant to section 20-288. The examination shall test the knowledge of the individual concerning the lines […]
20-285. Application for license A. A person who applies for a resident insurance producer license shall apply to the director on a form prescribed by the director and shall declare under penalty of denial, suspension or revocation of the license that the statements made in the application are true, correct and complete to the best […]
20-286. Licensure; lines of authority A. Unless the director denies a license pursuant to section 20-295, the director shall issue a resident insurance producer license to any person who meets the requirements prescribed in sections 20-284 and 20-285. An insurance producer may qualify for a license in one or more of the following lines of […]
20-287. Nonresident licensing A. Unless the director denies a license pursuant to section 20-295, the director shall issue a nonresident person a nonresident insurance producer license if all of the following apply: 1. The person is currently licensed as a resident and in good standing in the person’s home state. 2. The person has submitted […]
20-288. Exemption from examination A. An individual who applies for an insurance producer license in this state and who was previously licensed for the same lines of authority in another state is not required to take an examination if either: 1. The applicant is currently licensed in the other state. 2. The application is received […]
20-289. Expiration; surrender; renewal A. Any license that is issued pursuant to this article, other than a temporary license, continues in force until it expires or the director suspends, revokes or terminates the license. The license is also subject to renewal pursuant to this section. B. A license that is issued or renewed pursuant to […]
20-289.01. Inactive license or application status during military service A. A licensee or applicant who is ordered into active military service may request that the license or application be placed on inactive status by sending the department a written statement that includes all of the following: 1. The licensee’s name. 2. The licensee’s license number […]
20-290. Insurance producer records; individual licensees A. An insurance producer shall keep at the insurance producer’s principal place of business the usual and customary records that pertain to transactions under the insurance producer’s license. The insurance producer shall keep all records for any transaction for three years immediately after the date of completion of the […]
20-291. Service of process on nonresident licensees A. Application for and acceptance of any nonresident license pursuant to this article constitutes an irrevocable appointment of the director as the agent of the licensee for the acceptance of service of process issued in this state in any action or proceeding against the licensee arising out of […]
20-292. Violation; injunctive relief If the director has cause to believe that any person is violating or about to violate section 20-282, 20-298, 20-311.01, 20-321.01, 20-331, 20-331.01, 20-332, 20-340.01 or 20-411, the director may order the person to cease and desist and, through the attorney general, may cause a complaint to be filed in the […]
20-293. Insurance vending machines A. Only a licensed insurance producer who is authorized by the director may solicit applications for and issue policies by means of mechanical vending machines. The insurance producer shall supervise each machine and shall issue policies only of insurers authorized to transact business in this state. A policy shall not be […]
20-294. Temporary licensing A. The director may issue a temporary insurance producer license for not more than one hundred eighty days without requiring an examination if the director deems that the temporary license is necessary for the servicing of an insurance business in the following cases: 1. To the surviving spouse or court appointed personal […]
20-295. License denial, suspension or revocation; civil penalty A. The director may deny, suspend for not more than twelve months, revoke or refuse to renew an insurance producer’s license or may impose a civil penalty in accordance with subsection F of this section or any combination of actions for any one or more of the […]
20-296. Effect of suspension or revocation of license A. The director shall not again issue any license under this title to any person whose license has been revoked until one year after the revocation and the person again qualifies in accordance with the applicable provisions of this title. B. If the license of a business […]
20-297. Assumed business name; trade name A. An insurance producer doing business under any name other than the producer’s legal name shall notify the director on a form prescribed by the director before using the assumed name. B. The director may deny the use of an assumed business name, require the use of a different […]
20-298. Commissions A. An insurer or insurance producer shall not pay a commission, service fee, brokerage or other valuable consideration to a person for selling, soliciting or negotiating insurance in this state if that person is required to be licensed under this article and is not so licensed. B. A person shall not accept a […]
20-299. Sharing of information A. The director may: 1. Share any nonpublic document, material or other information with other state, federal and international regulatory agencies, with the national association of insurance commissioners and its affiliates or subsidiaries and with state, federal and international law enforcement authorities, if the recipient agrees to maintain the confidentiality and […]
