A. The director shall not again issue any license under this title to any person whose license has been revoked until one year after the revocation and the person again qualifies in accordance with the applicable provisions of this title.

Terms Used In Arizona Laws 20-296

  • Business entity: means any corporation, association, partnership, limited liability company, limited liability partnership or other legal entity except an individual or sole proprietorship. See Arizona Laws 20-281
  • Designated producer: means the individual insurance producer that a business entity designates pursuant to section 20-285, subsection C, paragraph 3 as the individual responsible for the business entity's compliance with the insurance laws of this state. See Arizona Laws 20-281
  • Member: means , if used in reference to a business entity, a person that holds an ownership interest in the business entity, excluding any interest in publicly traded securities and any interest of less than ten percent of the voting rights. See Arizona Laws 20-281
  • Person: means an individual or a business entity. See Arizona Laws 20-281

B. If the license of a business entity is suspended or revoked, a member, officer or director of or designated producer for the business entity shall not be issued a license or serve as the designated producer for any licensee during the period of the suspension or revocation unless the director determines that the member, officer, director or designated producer was not personally at fault and did not acquiesce in the matter that resulted in the suspension or revocation of the license.

 

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