522B.7  Nonresident licensing.

1.  Unless denied licensure pursuant to section 522B.11, a nonresident person shall receive a nonresident insurance producer license if all of the following apply:

a.  The person is currently licensed as an insurance producer and is in good standing in the person's home state.

b.  The person has submitted the proper request for licensure and has paid the required fees.

c.  The person has submitted or transmitted to the commissioner the application for licensure that the person submitted to the person's home state, or in lieu of such application, a completed uniform application.

d.  The person's home state awards nonresident insurance producer licenses to residents of this state on the same basis.

2.  The commissioner may verify the insurance producer's licensing status through the producer database.

3.  A nonresident insurance producer who moves from one state to another state or a resident insurance producer who moves from this state to another state shall file a change of address and provide certification from the new resident state within thirty days of the change of legal residence. No fee or license application is required. The certification may be obtained through the producer database.

4.  Notwithstanding any other provision of this chapter, a person licensed as a limited lines insurance producer in the person's home state shall receive a nonresident limited lines insurance producer license, pursuant to subsection 1, granting the same scope of authority as granted under the license issued by such person's home state.

Section History: Recent form

  2001 Acts, ch 16, §21, 37

Internal References

  Referred to in § 522B.1, 522B.15

Footnotes

  Section is effective January 1, 2002; 2001 Acts, ch 16, §37


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