A.  An insurance producer doing business under any name other than the producer’s legal name is required to notify the commissioner of insurance prior to using the assumed name.  Prior to the use of or changes to any trade name or names, an insurance producer shall provide written notification of such use or change to the commissioner, on a form prescribed by the commissioner.  A letter of registration from the secretary of state shall accompany the application for a trade name.

B.  The use by any insurance producer of a nonapproved trade name shall subject such person to a fine not exceeding two hundred fifty dollars.  Additionally, if the insurance producer continues to utilize a nonapproved trade name for ten or more days after being notified by the commissioner to cease using the nonapproved trade name, the insurance producer will be subject to an additional fine not to exceed five thousand dollars.  If applicable, an insurance producer must comply with the provisions of La. Rev. Stat. 51:281 et seq.

Acts 2001, No. 158, §1, eff. Jan. 1, 2002; Redesignated from La. Rev. Stat. 22:1140 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.

NOTE:  Former La. Rev. Stat. 22:1552 redesignated as La. Rev. Stat. 22:2112 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.