(a) Unless denied licensure pursuant to § 157119, a non- resident person shall receive a non-resident producer license if: (1) the person is currently licensed as a resident and in good standing in that person’s home state; (2) the person has submitted the proper request for licensure and has paid the required fees; (3) the person has submitted or transmitted to the Commissioner of Banking and Insurance the application for licensure that the person submitted to that person’s home state, or in lieu of the same, a completed Uniform Application; and (4) the person’s home state awards non-resident producer licenses to residents of Guam on the same basis. (b) The Commissioner of Banking and Insurance may verify the producer’s licensing status through the Producer Database maintained by the National Association of Insurance Commissioners (“NAIC”), its affiliates or subsidiaries. (c) A non-resident producer who moves from one (1) state to another state, or a resident producer who moves from Guam to another state, shall file a change of address and provide
certification from the new resident state within thirty (30) days of the change of legal residence. (d) Notwithstanding any other provisions of this Act [P.L. 26-56], a person licensed as a surplus lines producer in that person’s home state shall receive a non-resident surplus lines producer license pursuant to Subsection (a) of this Section. Except as to Subsection (a), nothing in this Section otherwise amends or supercedes any provision regulating excess and surplus lines. (e) Notwithstanding any other provisions of this Act, a person licensed as a limited line credit insurance or other type of limited lines producer in that person’s home state shall receive a non-resident limited lines producer license, pursuant to Subsection (a) of this Section, granting the same scope of authority as granted under the license issued by the producer’s home state. SOURCE: Added by P.L. 26-056:5 (Nov. 5, 2001). 2011 NOTE: Reference to the “Insurance Commissioner” in subsections (a)(3) and (b) changed to the “Commissioner of Banking and Insurance” pursuant to P.L. 27-088:10 (May 6, 2004). COMMENT: Section 157119, referred to in the first paragraph of this Section, does not exist even though this is the section number that appears in the original legislation. The Compiler believes that the true reference is to § 15705, which deals with denials of licenses, but he cannot be sure about this.