20-287. Nonresident licensing

384 words·~2 min read·/az/title-20/20-287

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

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 the proper request for licensure and has paid the fees prescribed in section 20-167.

3. The person has submitted the application for licensure as an insurance producer that the person submitted to the person's home state or a completed uniform application on a form prescribed by the national association of insurance commissioners.

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

B. To remain continuously licensed in this state, a resident insurance producer who moves from this state to another state shall file, within thirty days after requesting a clearance letter, a change of address form as prescribed in section 20-286, subsection C and apply for licensure from the new resident state. After receiving the license from the new resident state, the insurance producer shall immediately notify the director of the new resident license. A fee or license application is not required.

C. Notwithstanding any other provision of this chapter, the director shall issue:

1. A nonresident surplus lines broker license pursuant to subsection A of this section to a person who is licensed as a surplus lines producer or broker in the person's home state. Except as provided in subsection A of this section, this section does not amend or supersede article 5 of this chapter.

2. A nonresident insurance producer license pursuant to subsection A of this section to a person who is licensed in the person's home state to transact limited lines insurance. The license shall grant the person the same scope of authority granted under the license issued by the person's home state. For the purposes of this paragraph, limited lines insurance is any authority that is granted by the home state and that restricts the authority of the license to less than the total authority prescribed in the associated major line insurance.

D. Except as otherwise provided in this title, a nonresident licensee is subject to this title as though the licensee were licensed as a resident.