Current through Pa Acts 2024-53, 2024-56 through 2024-95
Section 310.6a - Change of home state(a) General rule.--Upon establishing a principal place of residence or business within this Commonwealth, an individual who is licensed as a resident insurance producer in another state or territory may apply to the department to become licensed in this Commonwealth as a resident insurance producer for the equivalent lines of authority for which the individual is licensed in the individual's former home state. Within 90 days of establishing a principal place of residence or business in this Commonwealth, the individual shall submit to the department a completed application indicating the lines of authority for which the individual desires to be licensed and for which the individual is licensed in the individual's former home state, proof of the individual's former home state license or a letter of clearance from the insurance commissioner of the individual's former home state and the required license fee. If the individual desires a resident insurance producer license for a line of authority for which the individual is not licensed in the individual's former home state, the individual shall comply with the requirements of this act prior to making applications to the department.(b) Review of applications.--The department shall review each application and may conduct an investigation of each individual who applies for a license in accordance with this section. The department shall issue a resident insurance producer license to the individual when the department determines that all of the following criteria have been met: (1) The individual holds a current insurance producer license in the individual's former home state or made application to the department within 90 days of the cancellation of the individual's license in the individual's former home state.(2) The individual is applying for licensure in the equivalent lines of authority for which the individual was licensed in the individual's former home state.(3) The individual has not committed any act which is prohibited under this act.(4) The individual has paid all applicable fees.(5) The individual: (i) was issued a letter of clearance from the insurance commissioner of the individual's former home state;(ii) was licensed in good standing in the individual's former home state at the time of cancellation; or(iii) is recorded as being licensed for the lines of authority and is in good standing in the individual's former home state's insurance producer records or records maintained by the NAIC.(6) Such other criteria as the department may establish.1921, May 17, P.L. 789, art. VI-A, § 606.1-A, added 2002, Dec. 6, P.L. 1183, No. 147, § 2, effective in 180 days.