44-2617. Corporation, partnership, or limited liability company; licensed as insurance consultant; requirements.

213 words·~1 min read·/ne/chapter-44/44-2617

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

Any corporation, partnership, or limited liability company engaged in the business of insurance consulting may become licensed as an insurance consultant. No license shall be granted to a corporation, partnership, or limited liability company unless the corporation, partnership, or limited liability company designates a licensed consultant who shall have full responsibility for all insurance consulting transactions of the corporation, partnership, or limited liability company within the state.

Such designated consultant shall be an officer of the corporation or a member of the partnership or limited liability company and shall have a substantial interest in or be an active participant in the management of the corporation, partnership, or limited liability company. If a corporation, partnership, or limited liability company has more than one office, it shall designate a consultant for each office. In the event a designated consultant of a licensed corporation, partnership, or limited liability company shall either leave the corporation, partnership, or limited liability company or have his or her license revoked, the corporation, partnership, or limited liability company shall have sixty days after such revocation in which to designate another qualified licensed consultant, or have its license revoked.

Any individual associated with a licensed corporation, partnership, or limited liability company who acts as an insurance consultant shall be a licensed consultant.