Iowa Code 522B.2 – License required
Current as of: 2023 | Check for updates
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1. A person shall not sell, solicit, or negotiate insurance in this state for any line of insurance unless the person is licensed as an insurance producer for that line of insurance as provided in this chapter.
Terms Used In Iowa Code 522B.2
- Commission: means the real estate commission as established by chapter 543B. See Iowa Code 543C.1
- Insurance: means any of the lines of authority an insurer is authorized to sell in this state. See Iowa Code 522B.1
- Insurance producer: means a person required to be licensed under the laws of this state to sell, solicit, or negotiate insurance. See Iowa Code 522B.1
- Negotiate: means the act of conferring directly with or offering advice directly to a purchaser or prospective purchaser of a particular contract of insurance concerning any of the substantive benefits, terms, or conditions of the contract, provided that the person engaged in that act either sells insurance or obtains insurance from insurers for purchasers. See Iowa Code 522B.1
- Person: means an individual or a business entity. See Iowa Code 522B.1
- Sell: means to exchange a contract of insurance by any means, for money or its equivalent, on behalf of an insurer. See Iowa Code 522B.1
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
2. A person offering to the public, for a fee or commission, to engage in the business of offering any advice, counsel, or service with respect to the benefits, advantages, or disadvantages promised under any policy of insurance must also be licensed as an insurance producer.