Texas Insurance Code 4056.055 – Waiver of Requirements for Nonresident Agent Licensed in Other State or Jurisdiction
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Terms Used In Texas Insurance Code 4056.055
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
The department may waive any license requirement for an applicant who holds a valid license from another state or jurisdiction if:
(1) that state or jurisdiction has license requirements substantially equivalent to those of this state; or
(2) the waiver is necessary to promote reciprocal licensing of nonresident agents among a majority of the states.