This text of Iowa § 522B.10 (Temporary licensing) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
1.The commissioner may issue a temporary insurance producer license for a period not
to exceed one hundred eighty days without requiring an examination if the commissioner
deems that the temporary license is necessary for the servicing of an insurance business in
the following cases:
a.To the surviving spouse or court-appointed personal representative of a licensed
insurance producer who dies or becomes mentally or physically disabled, to allow adequate
time for the sale of the insurance business owned by the insurance producer, for the recovery
or return of the insurance producer to the business, or for the training and licensing of new
personnel to operate the insurance producer’s business.
b.To a member or employee of a business entity licensed as an insurance producer, upon
the deat
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1. The commissioner may issue a temporary insurance producer license for a period not
to exceed one hundred eighty days without requiring an examination if the commissioner
deems that the temporary license is necessary for the servicing of an insurance business in
the following cases:
a. To the surviving spouse or court-appointed personal representative of a licensed
insurance producer who dies or becomes mentally or physically disabled, to allow adequate
time for the sale of the insurance business owned by the insurance producer, for the recovery
or return of the insurance producer to the business, or for the training and licensing of new
personnel to operate the insurance producer’s business.
b. To a member or employee of a business entity licensed as an insurance producer, upon
the death or disability of an individual designated in the business entity application or the
license.
c. To the designee of a licensed insurance producer entering active service in the armed
forces of the United States.
d. In any other circumstance where the commissioner deems that the public interest will
best be served by the issuance of a temporary license.
e. To an applicant for a resident insurance producer license who has met all of the
requirements under section 522B.5, subsection 1, and who has not been issued a resident
insurance producer license within ten business days from the date that the applicant
submitted fingerprints and any other required identifying information to the commissioner
pursuant to section 522B.5A, subsection 3.
f. To an applicant for a nonresident insurance producer license that has met all of the
requirements under section 522B.7 and that has not been issued a nonresident insurance
producer license within ten business days from that date that the applicant submitted
fingerprints and any other required identifying information to the commissioner pursuant to
section 522B.5A, subsection 3.
2. The commissioner may by order limit the authority of any temporary licensee in any
waydeemednecessarytoprotectinsuredsandthepublic. Thecommissionermayrequirethe
temporarylicenseetohaveasuitablesponsorwhoisalicensedinsuranceproducerorinsurer
and who assumes responsibility for all acts of the temporary licensee and may impose other
similar requirements designed to protect insureds and the public. The commissioner may by
order revoke a temporary license if the interest of insureds or the public is endangered. A
temporary license shall not continue after the owner or the personal representative disposes
of the business.