A. A person shall not act in the capacity of a managing general agent for an insurer licensed in this state with respect to the risks located in this state unless the person is licensed as an insurance producer by the director.

Terms Used In Arizona Laws 20-311.01

  • managing general agent: means any person, firm, association or corporation that manages all or part of the insurance business of an insurer, including the management of a separate division, department or underwriting office, and that, with or without authority and either separately or together with affiliates, directly or indirectly produces and underwrites an amount of gross direct written premium that is at least five per cent of the policyholder surplus as reported in the last annual statement of the insurer in any one quarter or year and that either:

    1. See Arizona Laws 20-311

  • Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215

B. A person shall not act in the capacity of a managing general agent for an insurer domiciled in this state with respect to risks located outside of this state unless the person is licensed as an insurance producer by the director.

 

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