Indiana Code 27-1-15.9-18. Application for limited lines producer license
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Sec. 18. (a) A vendor shall apply for a limited lines producer license required by this chapter by filing a sworn application for the license with the commissioner on forms prescribed and furnished by the commissioner.
(1) Except as provided in subdivision (2), the name, residence address, and other information required by the commissioner for an employee or officer of the vendor who is designated by the vendor as the individual who is responsible for the vendor’s compliance with this chapter.
(b) An application filed under subsection (a) must include the following information:
Terms Used In Indiana Code 27-1-15.9-18
- Commissioner: means the "insurance commissioner" 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
- portable electronics: means electronic devices that are portable in nature. See Indiana Code 27-1-15.9-5
- shareholder: means one who is a holder of record of shares of stock in a corporation, unless the context otherwise requires. See Indiana Code 27-1-2-3
- vendor: means a business entity that directly or indirectly engages in portable electronics transactions. See Indiana Code 27-1-15.9-9
(2) If the vendor derives more than fifty percent (50%) of the vendor’s revenue from the sale of portable electronics insurance, the name, residence address, and other information required by the commissioner for each officer, director, and shareholder of record that has beneficial ownership of at least ten percent (10%) of any class of securities registered by the vendor under federal securities law.
(3) The physical address of the vendor’s home office.
As added by P.L.4-2012, SEC.3.