California Insurance Code 1638.5 – Unless denied licensure pursuant to Article 6 (commencing with …
Unless denied licensure pursuant to Article 6 (commencing with Section 1666), a nonresident person shall receive a production agency license if that nonresident person meets the following requirements:
(a) The person is currently licensed and in good standing in the state, territory of the United States, or province of Canada in which the person is licensed as a resident producer.
Terms Used In California Insurance Code 1638.5
- Commissioner: means the Insurance Commissioner of this State. See California Insurance Code 20
- license: includes a certificate of convenience and a permanent license, and the term "persons who are licensed" includes the holders of any such certificate or the license, but these definitions and the use of those terms in this chapter shall not confer upon a certificate of convenience or any holder thereof any property right in or to the certificate, the certificate being and remaining only a temporary permit, issued as a matter of convenience, allowing the transaction of insurance without a permanent license, but within the limits, and subject to the conditions of the certificate of convenience issued and the laws applicable thereto. See California Insurance Code 1627
- Person: means any person, association, organization, partnership, business trust, limited liability company, or corporation. See California Insurance Code 19
- Resident: means residing in this State, "nonresident" means not residing in this State. See California Insurance Code 30
- State: means the State of California, unless applied to the different parts of the United States. See California Insurance Code 28
(b) The person has submitted the proper request for licensure and has paid the fees required by Section 1750.5.
(c) The person has submitted or transmitted to the Insurance Commissioner the application for licensure that the person submitted to the state, territory of the United States, or province of Canada in which the person is licensed as a resident, or submitted or transmitted to the commissioner, a completed National Association of Insurance Commissioners (NAIC) Uniform Nonresident Application.
(d) The state, territory of the United States, or province of Canada in which the person holds a resident producer license awards nonresident producer licenses to residents of this state on the same basis.
(Amended by Stats. 2021, Ch. 133, Sec. 3. (SB 272) Effective July 23, 2021.)