Title 24, Insurance

§431:9-230 Reporting and accounting for funds. (a) Every licensed adjuster shall have the responsibilities of a trustee for all funds and return funds received or collected under this article. (b) The licensee, upon receipt of the funds, shall either: (1) Remit the funds and retu…

§431:9-232 Extension of licenses. (a) Prior to the renewal or extension of a license, each licensee shall pay the fee required in section 431:7-101. (b) A license for an adjuster or independent bill reviewer shall be inactivated if a licensee fails to pay any required fees or pen…

[§431:9-234.5] Reporting of actions. (a) A licensee shall report in writing to the commissioner any civil or administrative action taken against the licensee in any jurisdiction or by any governmental agency in the United States within thirty days of the final disposition of the …

§431:9-235 Denial, suspension, revocation of licenses. (a) The commissioner may suspend, revoke, or refuse to extend any license issued under this article for any cause specified in any other provision of this article, or for any of the following causes: (1) For any cause for whi…

§431:9-235.5 Suspension or denial of license for noncompliance with support order. In addition to any other acts or conditions provided by law, the commissioner shall refuse to renew, reinstate, or restore, or shall deny or suspend any license if the commissioner has received cer…

§431:9-237 Duration of suspension. Every order suspending any license shall specify the period during which suspension will be effective. [L 1987, c 347, pt of §2; am L 2005, c 132, §3]

§431:9-238 Power to fine. (a) In addition to or in lieu of suspension, revocation, or refusal to extend any license, after a hearing, the commissioner may levy a fine upon the licensee in an amount not less than $100 and not more than $10,000. (b) The order levying the fine shall…

§431:9-239 Reinstatement or relicensing. The commissioner shall not reinstate the license of or relicense any licensee or former licensee as to whom a license has been suspended, revoked, or extension refused, until: (1) Any cause for the suspension, revocation, or refusal of suc…

§431:9-240 Fine in lieu. (a) Upon the hearing of an appeal from an order suspending, revoking, or refusing to extend any license issued under this article, the court may impose a fine of not more than $10,000 in lieu of the commissioner's action, and payment of the fine within te…

[§431:9-242] Compensation by contingency fee prohibited. An independent bill reviewer shall not be compensated on a contingency fee basis. [L 2000, c 288, pt of §1]

§431:9-243 Qualification for independent bill reviewer's license. To qualify for an independent bill reviewer's license, an applicant shall comply with this article and shall: (1) Be domiciled in this State, or in a state that will permit residents of this State to act as indepen…

[§431:9-244] Contracts between public adjuster and insured. (a) All contracts for services provided by a public adjuster shall be in writing and contain the following terms: (1) Title of "Public Adjuster Contract"; (2) Description of services to be provided to the insured; (3) Fu…

ARTICLE 9A PRODUCER LICENSING [PART I. GENERAL PROVISIONS] §431:9A-101 Scope. This article governs qualifications and procedures for the licensing of insurance producers. It simplifies and organizes statutory language to improve efficiency, to permit the use of new technology, an…

§431:9A-102 Definitions. As used in this article, the following definitions apply: "Approved continuing education course" means a course approved by the commissioner following receipt of recommendations from insurance professionals. "Approved course provider" means an organizatio…

§431:9A-103 License required. (a) A person shall not sell, solicit, or negotiate insurance in this State for any line, class, or classes of insurance unless the person is licensed for the proper line of authority or class in accordance with this article. (b) The proper line of au…

§431:9A-104 Exceptions to licensing. (a) Nothing in this article shall be construed to require an insurer to obtain an insurance producer license. In this section, the term "insurer" does not include an insurer's officers, directors, employees, subsidiaries, or affiliates. (b) A …

§431:9A-105 Insurance producer license examination. (a) An applicant for an insurance producer license shall pass a written examination unless exempt pursuant to section 431:9A-109. The examination shall test the knowledge of the applicant concerning the lines of authority for wh…

§431:9A-106 Application for license. (a) A person applying for an insurance producer license shall make application to the commissioner on the uniform application and declare under penalty of denial, suspension, or revocation of the license that the statements made in the applica…

§431:9A-107 License. (a) Except as provided in section 431:9A-112, a person who has met the requirements of sections 431:9A-105 and 431:9A-106 shall be issued an insurance producer license. An insurance producer may receive a license in one or more of the following lines of autho…

§431:9A-107.5 Limited license. (a) Notwithstanding any other provision of this article, the commissioner may issue: (1) A limited license to persons selling travel insurance. For purposes of this paragraph, "travel insurance" means insurance coverage for personal risks incident t…

§431:9A-108 Nonresident licensing. (a) Except as provided in section 431:9A-112, a nonresident applicant shall receive a nonresident producer license if: (1) The applicant is currently licensed and is in good standing as a resident producer in the applicant's home state; (2) The …

[§431:9A-108.5] Process against nonresident licensees. (a) Each licensed nonresident producer shall appoint the commissioner as the producer's agent to receive service of legal process issued against the producer in this State upon causes of action arising within this State. Serv…

§431:9A-109 Exemption from examination. (a) Subject to section 431:9A-116, an individual who applies for an insurance producer license in this State who was previously licensed for the same lines of authority in another state shall not be required to complete any prelicensing edu…

§431:9A-110 Legal, trade, and assumed names. (a) Every insurance producer doing business in this State shall notify the commissioner in writing of the insurance producer's legal name. (b) An insurance producer shall apply to the department of commerce and consumer affairs and the…

[§431:9A-111] Temporary licensing. (a) The commissioner may issue a temporary insurance producer license for a period not to exceed one hundred eighty days without requiring an examination if the commissioner deems that the temporary license is necessary for the servicing of an i…

§431:9A-112 License denial, nonrenewal, suspension, or revocation. (a) The commissioner may deny, place on probation, suspend, revoke, or refuse to issue or renew an insurance producer's license and may levy a civil penalty in accordance with articles 2 and 3, or any combination …

[§431:9A-112.3] Suspension or denial of license for noncompliance with support order. In addition to any other acts or conditions provided by law, the commissioner shall refuse to renew, reinstate, or restore, or shall deny or suspend any license if the commissioner has received …

[§431:9A-112.5] Controlled business. (a) The commissioner shall neither grant nor extend a producer's license to any person if the commissioner has reasonable cause to believe that: (1) In the case of an application for license extension, during either of the two calendar years i…

[§431:9A-113] Commissions. (a) An insurance company or insurance producer shall not pay a commission, service fee, brokerage fee, or other valuable consideration to a person for selling, soliciting, or negotiating insurance in this State if that person is required to be licensed …

§431:9A-114 Appointments. (a) An insurance producer shall not act as an agent of an insurer unless the producer becomes an appointed agent of that insurer. (b) To appoint a producer as its agent, the insurer shall file, in a format approved by the commissioner, a notice of appoin…

§431:9A-115 Notification to commissioner of termination. (a) An insurer or its authorized representative that terminates the appointment, employment, contract, or other insurance business relationship with a producer shall notify the commissioner within thirty days following the …

[§431:9A-116] Reciprocity. (a) The commissioner shall waive any requirements for a nonresident license applicant with a valid license from the applicant's home state, except the requirements imposed by section 431:9A-108, so long as the applicant's home state awards nonresident l…

[§431:9A-117] Reporting of actions. (a) A producer shall report to the commissioner any civil or administrative action taken against the producer in any jurisdiction or by a governmental agency in any state within thirty days of the final disposition of the matter. (b) Within thi…

[§431:9A-118] Rules. The commissioner may, in accordance with chapter 91, adopt reasonable rules as are necessary or proper to carry out the purposes of this article. [L 2001, c 216, pt of §2]

[§431:9A-119] Scope of examination. (a) The commissioner shall prescribe each examination, and each examination shall be of reasonably sufficient scope to test the applicant's knowledge relative to the classes of insurance that may be dealt with under the license applied for, the…

[§431:9A-120] Time of examinations. (a) The commissioner shall give examinations within this State at such times and places as may reasonably serve the convenience of both the commissioner and applicants. (b) The commissioner may require a waiting period of not more than six mont…

[§431:9A-121] Advisory board. The commissioner may, in the commissioner's discretion, appoint a group of individuals, to be known as the advisory board, to make recommendations to the commissioner concerning any matter relating to the examinations provided for by this article. An…

§431:9A-122 Place of business. (a) Every licensed insurance producer shall have and maintain in this State, or, if a nonresident insurance producer, in the nonresident's home state, a place of business accessible to the public. (b) The place of business shall be where the license…

§431:9A-123 Records of insurance producer. (a) Every insurance producer shall keep a record of all transactions consummated under the producer's license. The record required by this section shall be in a form organized according to class of insurance and shall include: (1) A reco…

[§431:9A-123.5] Reporting and accounting for premiums. (a) Every licensed producer shall have the responsibilities of a trustee for all premium and return premium funds received or collected under this article. (b) The licensee, upon receipt of the funds, shall either: (1) Remit …

§431:9A-124 Prerequisites for license renewal. (a) To qualify for a license renewal, a licensee shall: (1) Preceding a license renewal, complete the required number of credit hours as set forth in subsection (b) in approved continuing education courses; and (2) Pay the fees as re…

[§431:9A-125] Continuing education recordkeeping. (a) Licensees shall maintain their own continuing education records and shall keep these records for four years after completion of an approved continuing education course. (b) Approved course providers shall maintain attendance r…

§431:9A-126 Power to fine. (a) The order levying the fine through section 431:9A-112 shall specify the period within which the fine shall be fully paid, and that period shall be not less than thirty nor more than forty-five days from the date of the order. (b) Upon the licensee's…

[§431:9A-127] Fine in lieu. (a) Upon the hearing of an appeal from an order imposing any sanction upon a licensee in accordance with section 431:9A-112, the court may impose a fine of not more than $10,000 in lieu of the commissioner's action, and payment of that fine within ten …

[§431:9A-128] Nondiscrimination. Continuing education courses provided by insurers to insurance producers shall be subject to the same standards, reviews, and credits as other continuing education courses. Nothing in this article is intended to preclude the provision of continuin…

§431:9A-129 Penalty. (a) The commissioner may revoke or suspend the certificate of an approved course provider for any violation of the insurance code, subject to the right of the provider to a hearing as provided in section 431:2-308. (b) The commissioner shall sanction the lice…