1. Qualifications. Unless denied licensure pursuant to section 1420?K, a nonresident person must be issued a nonresident producer license if:
A. The person is currently licensed as a resident and in good standing in that person’s home state; [PL 2001, c. 259, §24 (NEW).]
B. The person has submitted the proper request for licensure and has paid any fees required by section 601; [PL 2001, c. 259, §24 (NEW).]
C. The person has submitted or transmitted to the superintendent the application for licensure submitted to that person’s home state, or in lieu of the same, a completed uniform application; and [PL 2001, c. 259, §24 (NEW).]
D. The person’s home state awards nonresident producer licenses to residents of this State on the same basis. [PL 2001, c. 259, §24 (NEW).]

[PL 2001, c. 259, §24 (NEW).]

Terms Used In Maine Revised Statutes Title 24-A Sec. 1420-G

  • Home state: means the District of Columbia and any state or territory of the United States that is the location of an insurance producer's principal place of residence or principal place of business, and in which that person is licensed to act as an insurance producer. See Maine Revised Statutes Title 24-A Sec. 1420-A
  • License: means a document issued by the superintendent authorizing a person to act as an insurance producer for the lines of authority specified in the document. See Maine Revised Statutes Title 24-A Sec. 1420-A
  • Limited line credit insurance: includes credit life, credit disability, credit property, credit unemployment, involuntary unemployment, mortgage life, mortgage guaranty, mortgage disability, guaranteed automobile protection insurance and any other form of insurance offered in connection with an extension of credit that is limited to partially or wholly extinguishing that credit obligation that the superintendent determines should be designated a form of limited line credit insurance. See Maine Revised Statutes Title 24-A Sec. 1420-A
  • Limited lines producer: means a person authorized by the superintendent to sell, solicit or negotiate limited lines insurance. See Maine Revised Statutes Title 24-A Sec. 1420-A
  • National Association of Insurance Commissioners: means the National Association of Insurance Commissioners or its successor organization of insurance regulators. See Maine Revised Statutes Title 24-A Sec. 15
  • Nonresident: means a person other than a resident of this State. See Maine Revised Statutes Title 24-A Sec. 1402
  • Person: means an individual or a business entity. See Maine Revised Statutes Title 24-A Sec. 1420-A
  • Resident: means any of the following:
A. See Maine Revised Statutes Title 24-A Sec. 1402
  • Uniform application: means the uniform application for resident and nonresident producer licensing authorized by the National Association of Insurance Commissioners or its successor organization. See Maine Revised Statutes Title 24-A Sec. 1420-A
  • 2. Verification. The superintendent may verify the producer’s licensing status through the producer database maintained by the National Association of Insurance Commissioners, its affiliates or subsidiaries or any successor organization.

    [PL 2001, c. 259, §24 (NEW).]

    3. Change of address. A nonresident producer who moves from one state to another state or a resident producer who moves from this State to another state shall file a change of address and provide certification from the new resident state within 30 days of the change of legal residence. A fee or license application is not required.

    [PL 2001, c. 259, §24 (NEW).]

    4. Surplus lines; license in home state. Notwithstanding any other provision of this subchapter, a person licensed as a surplus lines producer in that person’s home state must be issued a nonresident surplus lines producer license pursuant to subsection 1. Except as provided in subsection 1, nothing in this section otherwise amends or supersedes any other provision of chapter 19.

    [PL 2001, c. 259, §24 (NEW).]

    5. Limited lines; license in home state. Notwithstanding any other provision of this subchapter, a person licensed as a limited line credit insurance or other type of limited lines producer in that person’s home state must be issued a nonresident limited lines producer license, pursuant to subsection 1, granting the same scope of authority as granted under the license issued by the producer’s home state. For the purposes of this section, limited line insurance is any authority granted by the home state that restricts the authority of the license to less than the total authority prescribed in the associated major lines pursuant to section 1420?F, subsection 1, paragraphs A to F.

    [PL 2001, c. 259, §24 (NEW).]

    SECTION HISTORY

    PL 2001, c. 259, §24 (NEW).