Indiana Code 27-1-15.6-8.2. Designated home state license
(1) the person has requested licensure in Indiana for a line of authority for which licensure is not required in the person’s home state;
Terms Used In Indiana Code 27-1-15.6-8.2
- Commissioner: means the "insurance commissioner" of this state. See Indiana Code 27-1-2-3
- Department: means "the department of insurance" of this state. See Indiana Code 27-1-2-3
- Insurance: means a contract of insurance or an agreement by which one (1) party, for a consideration, promises to pay money or its equivalent or to do an act valuable to the insured upon the destruction, loss or injury of something in which the other party has a pecuniary interest, or in consideration of a price paid, adequate to the risk, becomes security to the other against loss by certain specified risks; to grant indemnity or security against loss for a consideration. See Indiana Code 27-1-2-3
- person: includes individuals, corporations, associations, and partnerships; personal pronoun includes all genders; the singular includes the plural and the plural includes the singular. See Indiana Code 27-1-2-3
(3) the person has submitted or transmitted to the commissioner a completed uniform application; and
(4) the person has complied with the prelicensing and continuing education requirements that apply to an insurance producer that:
(A) is a resident of Indiana; and
(B) applies for the line of authority described in subdivision (1).
(b) The commissioner may verify an insurance producer’s licensing status through the centralized insurance producer license registry described in section 7 of this chapter.
(c) A person that holds a designated home state license and moves from one state to another state shall file a change of address with the department and provide certification from the new resident state not more than thirty (30) days after the change of legal residence. No fee or license application is required under this subsection.
(d) A person that:
(1) holds a designated home state license; and
(2) becomes a resident of a state that requires licensure for the line of authority for which the person holds the designated home state license;
shall become licensed for the line of authority in the new state of residence and notify the commissioner of the new licensure.
(e) Upon receiving notice of new licensure under subsection (d), the commissioner shall transfer the person’s designated home state license to a nonresident producer license under section 8 of this chapter.
As added by P.L.146-2015, SEC.22. Amended by P.L.124-2018, SEC.37.