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Pennsylvania Statutes Title 40 P.S. Insurance § 310.6. Licensing

Current as of January 01, 2022 | Updated by FindLaw Staff

(a) Applicants.--The department shall review each application and may conduct an investigation of each applicant who applies for a license in accordance with this act. The department shall issue a resident or nonresident insurance producer license, as appropriate, to the applicant when the department determines that all of the following criteria have been met:

(1) The applicant has reached 18 years of age.

(2) The applicant has not committed any act which is prohibited under this act.

(3) The applicant has satisfied the preexamination education requirements of this act.

(4) The applicant has passed or is exempt from the insurance producer licensing examination on the lines of authority for which the applicant has applied for licensing.

(5) The applicant has paid all applicable fees established pursuant to this act.

(6) The applicant possesses the general fitness, competence and reliability sufficient to satisfy the department that the applicant is worthy of licensure.

(b) Business entities.--The department shall review each application and may conduct an investigation of each business entity seeking licensure and its designated licensees. The department shall issue a resident or nonresident insurance producer license, as appropriate, to the business entity when the department determines that all of the following criteria have been met:

(1) The business entity has one or more designated licensees.

(2) The business entity's designated licensees are licensees in good standing with the department.

(3) The business entity is applying for licensure for the same lines of authority held by the designated licensees.

(4) The business entity or its designated licensees have not committed any act which is prohibited under this act.

(5) The business entity is owned, operated and managed by persons possessing the general fitness, competence and reliability sufficient to satisfy the department that the business entity is worthy of licensure.

(6) The business entity has paid all applicable fees.

(7) Such other criteria as the department may establish.

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Cite this article: FindLaw.com - Pennsylvania Statutes Title 40 P.S. Insurance § 310.6. Licensing - last updated January 01, 2022 | https://codes.findlaw.com/pa/title-40-ps-insurance/pa-st-sect-40-310-6/

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