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Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

  Chapter 375back to chapter 375

  375.015.  Application for licensure, insurance producers. — 1.  An individual applying for a resident insurance producer license shall make application to the director on the uniform application and declare under penalty of refusal, suspension or revocation of the license that the statements made in the application are true, correct and complete to the best of the knowledge and belief of the applicant.  Before approving the application, the director shall find that the individual:

  (1)  Is at least eighteen years of age;

  (2)  Has not committed any act that is a ground for denial, suspension or revocation set forth in section 375.141;

  (3)  Has paid a license fee in the sum of one hundred dollars; and

  (4)  Has successfully passed the examinations for the lines of authority for which the person has applied.

  2.  A business entity acting as an insurance producer is required to obtain an insurance producer license.  Application shall be made using the uniform business entity application.  Before approving the application, the director shall find that:

  (1)  The business entity has paid a license fee in the sum of one hundred dollars;

  (2)  The business entity has designated a licensed individual insurance producer to be responsible for compliance with the insurance laws, rules and regulations of this state by the business entity; and

  (3)  Neither the business entity nor any of its officers, directors or owners has committed any act that is a ground for denial, suspension or revocation set forth in section 375.141.

  3.  The director may require any documents reasonably necessary to verify the information contained in an application.

  4.  In addition to designating a licensed individual insurance producer to be responsible for compliance with the insurance laws, rules and regulations of this state, the application shall contain a list of all insurance producers employed by or acting in behalf of or through the business entity and to whom the business entity pays any salary or commission for the solicitation, negotiation or procurement of any insurance contract.

  5.  Within twenty working days after the change of any information submitted on the application or upon termination of any insurance producer, the business entity shall notify the director of the change or termination.  No fee shall be charged for any such change or termination.

  6.  If the director has taken no action within twenty-five working days of receipt of an application, the application shall be deemed approved and the applicant may act as a licensed insurance producer, unless the applicant has indicated a conviction for a felony or a crime involving moral turpitude.

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(L. 2001 S.B. 193)

Effective 1-01-03


< end of effective 01 Jan 2003 >

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