Sec. 38a-162. (Formerly Sec. 38-292). License required. Expiration. Fee. Required information.
297 words·~1 min read·
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(a)No person shall engage in the business of financing insurance premiums, secured by any insurance premium finance agreement, in this state without having first obtained from the commissioner a license to act as an insurance premium finance company. Any person who engages in the business of financing insurance premiums, secured by any insurance premium finance agreement, in this state without first obtaining a license as herein provided shall, upon conviction be guilty of a class A misdemeanor.
(b)All licenses issued under the provisions of sections 38a-160 to 38a-170 , inclusive, shall expire on the thirtieth day of June following the date of their issuance. At the time of application for an insurance premium finance company license and for every annual renewal thereof, the applicant shall pay to the commissioner the sum of fifty dollars. If a license is not issued, the commissioner shall return the fee.
(c)Any person applying for an insurance premium finance license or for the renewal of any such license, shall file with the commissioner sworn answers to such interrogatories as the commissioner may require and any person who intentionally makes any false answer to any such interrogatory shall be guilty of perjury.
(d)The commissioner may at any time require any applicant for a license under sections 38a-160 to 38a-170 , inclusive, to disclose fully the identity of all stockholders, partners, officers and employees of the applicant's firm, partnership or corporation. The commissioner may refuse to issue or renew any license under said sections in the name of any firm, partnership or corporation if the commissioner is satisfied that any officer, employee, stockholder or partner thereof, may materially influence the applicant's conduct such that the applicant does not meet the standards or qualifications required of a licensee under said sections.