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ARIZONA HOUSE OF REPRESENTATIVESFifty-fourth Legislature Second Regular Session |
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SB 1091: insurance producer licensing; surrender; application
Sponsor: Senator Livingston, LD 22
Transmitted to the Governor
Overview
Allows a person who voluntarily surrenders their insurance producer license (License) to reapply for the same License within one year if the applicant complies with the same requirements.
History
A person who applies for a License must apply to the Director of the Department of Insurance (Director) and provide information concerning the applicant's identity, personal history, business record, experience in insurance and any document deemed necessary by the Director. The applicant must pay all required fees and pass examinations for the lines of authority for which the individual is applying (A.R.S. § 20-285).
A License continues until suspended, terminated or revoked by the Director, or it expires. A License that is issued or renewed expires every four years. A licensee may submit a written request to the Director to voluntarily surrender the licensee's authority to transact one or more lines of insurance, or their entire license. The licensee may not reapply for the same authority or license for at least one year after the date of the surrender (A.R.S. § 20-289).
Provisions
1.
Removes the one-year wait period for a previous
licensee to reapply for an authority or License that was previously
surrendered. (Sec. 1)
2. States that a person who voluntarily surrenders their License can obtain the same License if the person complies with the requirements that apply to an initial license applicant. (Sec. 1)
3. Makes technical changes. (Sec. 1)
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SB 1091
Initials JR/LB Page 0 Transmitted
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