Form and prerequisites for approval of application for license; licensing of business organization; verification of information; duration of license.
1. The Commissioner shall prescribe the form of application by a natural person for a license as an insurance consultant. 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 pursuant to NRS 683A.451.
(c) 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.
(d) Passed each examination required for the license and successfully completed each course of instruction which the Commissioner requires by regulation, unless he is a resident of another state and holds a similar license in that state.
2. A business organization must be licensed as an insurance consultant 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 an insurance consultant in this state 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. The Commissioner may require any document reasonably necessary to verify information contained in an application.
4. A license issued pursuant to this chapter is valid for 3 years after the date of issuance or until it is suspended, revoked or otherwise terminated.
5. An insurance consultant may qualify for a license pursuant to this chapter in one or more of the lines of authority set forth in paragraphs (a) to (d), inclusive, of subsection 1 of NRS 683A.261.
Last modified: February 27, 2006