Form and prerequisites for approval of application for license; licensing of business organization; search of records of criminal history; verification of information.
1. The Commissioner shall prescribe the form of application by a natural person for a license as a resident producer of insurance. The applicant must declare, under penalty of refusal to issue, or suspension or revocation of, the license, that the statements made in the application are true, correct and complete to the best of his knowledge and belief. Before approving the application, the Commissioner must find that the applicant has:
(a) Attained the age of 18 years;
(b) Not committed any act that is a ground for refusal to issue, or suspension or revocation of, a license;
(c) Completed a course of study for the lines of authority for which the application is made, unless the applicant is exempt from this requirement;
(d) Paid the fee prescribed for the license and a fee of $15 for deposit in the Insurance Recovery Account, neither of which may be refunded; and
(e) Successfully passed the examinations for the lines of authority for which application is made, unless the applicant is exempt from this requirement.
2. A business organization must be licensed as a producer of insurance in order to act as such. Application must be made on a form prescribed by the Commissioner. Before approving the application, the Commissioner must find that the applicant has:
(a) Paid the fee prescribed for the license and a fee of $15 for deposit in the Insurance Recovery Account, neither of which may be refunded; and
(b) Designated a natural person who is licensed as a producer of insurance and who is affiliated with the business organization to be responsible for the organization’s compliance with the laws and regulations of this state relating to insurance.
3. A natural person who is a resident of this state applying for a license must furnish a copy of a search concerning him conducted by the Federal Bureau of Investigation in its national criminal records and of a search concerning him of the Central Repository for Nevada Records of Criminal History. The Commissioner shall adopt regulations concerning the procedures for obtaining this information.
4. The Commissioner may require any document reasonably necessary to verify information contained in an application.
Last modified: February 27, 2006