A. The director may issue a temporary insurance producer license for not more than one hundred eighty days without requiring an examination if the director deems that the temporary license is necessary for the servicing of an insurance business in the following cases:

Terms Used In Arizona Laws 20-294

  • 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
  • including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
  • Insurance producer: means a person required to be licensed under this article to sell, solicit or negotiate insurance. 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
  • United States: includes the District of Columbia and the territories. See Arizona Laws 1-215

1. To the surviving spouse or court appointed personal representative of a licensed insurance producer who dies or becomes a person with a mental or physical disability to allow adequate time for the sale of the insurance business owned by the producer, for the recovery of the producer and return of the producer to the business or to provide for the training and licensing of new personnel to operate the producer’s business.

2. To a member or employee of a business entity that is licensed as an insurance producer on the death or disability of an individual who is the designated producer on the business entity application or license.

3. To the designee of a licensed insurance producer who enters active service in the armed forces of the United States.

B. By order the director may impose conditions or limitations on the authority of any temporary licensee in any way the director deems necessary to protect insureds and the public, including requiring the temporary licensee to have a suitable sponsor who is a licensed insurance producer or insurer and who assumes responsibility for all acts of the temporary licensee. Unless the director imposes conditions or limitations pursuant to this subsection, a temporary licensee has the same rights and privileges prescribed in this article for an insurance producer.

C. By order the director may summarily revoke a temporary license if the interests of insureds or the public are endangered. A temporary license may not continue after the owner or the personal representative disposes of the business.