20-285. Application for license

443 words·~2 min read·/az/title-20/20-285

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

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 of the knowledge and belief of the applicant or the applicant's duly authorized representative. The applicant shall provide information concerning the applicant's identity, personal history, business record and experience in insurance and any other pertinent fact the director requires.

B. Before the director approves the application of the individual, 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 prescribed in section 20-295.

3. Has paid the fees prescribed in section 20-167.

4. Has successfully passed the examinations for the lines of authority for which the individual has applied.

C. Before the director approves the application of a business entity, the director shall find that the business entity:

1. Has paid the fees prescribed in section 20-167.

2. Will be acting within the scope of its partnership agreement, articles of incorporation or other chartering documents when the business entity transacts business under the license.

3. Has designated an individually licensed insurance producer who is responsible for the business entity's compliance with the insurance laws of this state.

D. The application of a business entity shall also include the names of all members, officers and directors of the business entity. For any individual who is identified pursuant to this subsection and pursuant to subsection C, paragraph 3 of this section, the director may require the applicant to provide the information required for a license as an individual.

E. Before the director grants a license, the director may require the applicant to:

1. Provide any document that is reasonably necessary to verify the information that is contained in an application and other information including prior criminal records.

2. Submit a full set of fingerprints to the department. The department of insurance and financial institutions shall submit the fingerprints to the department of public safety for the purpose of obtaining a state and federal criminal records check pursuant to section 41-1750 and Public Law 92-544. The department of public safety may exchange this fingerprint data with the federal bureau of investigation.

F. A nonresident person who is licensed as an insurance producer in another state, who becomes a resident of this state and who continues to act as an insurance producer shall apply to become a resident licensee pursuant to this section within ninety days.