§ 20-297 — Assumed business name; trade name

A. An insurance producer doing business under any name other than the producer's legal name shall notify the director on a form prescribed by the director before using the assumed name.

B. The director may deny the use of an assumed business name, require the use of a different assumed business name or require the use of an assumed business name if an insurance producer uses or proposes to use an assumed business name that either:

1. Is so similar to the legal name or name already assumed under this section by any other licensed insurance producer so as to cause uncertainty or confusion.

2. Tends to deceive or mislead the public as to the nature of the business that is or will be conducted.

C. An insurance producer shall notify the director in writing within thirty days after any material change to the information filed with the director under this section.

D. The director shall not issue any license in a trade name except to a business entity and on proof satisfactory to the director that the trade name has been lawfully registered.