Indiana § 27-6-9-15 Reinsurance intermediary license; issuance; application; authority to
act; nonresidents

Indiana Statutes

§ 27-6-9-15 — Reinsurance intermediary license; issuance; application; authority to act; nonresidents

Indiana·Title 27 INSURANCE·Art. 6 REINSURANCE; INTERINSURANCE;·Ch. 9 Reinsurance Intermediaries

(a)The commissioner may issue a reinsurance intermediary license to any person, firm, association, or corporation who has complied with the requirements of this chapter. Any license issued to a firm or association under this section authorizes all the members of the firm or association and any designated employees to act as reinsurance intermediaries under the license, and all such persons must be named in the application and any supplements thereto. Any license issued to a corporation under this section authorizes all of the officers of the corporation, and any designated employees and directors of the corporation, to act as reinsurance intermediaries on behalf of the corporation, and all such persons must be named in the application and any supplements thereto.

(b)If the applicant for

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(a) The commissioner may issue a reinsurance
intermediary license to any person, firm, association, or corporation
who has complied with the requirements of this chapter. Any license
issued to a firm or association under this section authorizes all the
members of the firm or association and any designated employees to
act as reinsurance intermediaries under the license, and all such
persons must be named in the application and any supplements thereto.
Any license issued to a corporation under this section authorizes all of
the officers of the corporation, and any designated employees and
directors of the corporation, to act as reinsurance intermediaries on
behalf of the corporation, and all such persons must be named in the
application and any supplements thereto.
(b) If the applicant for a reinsurance intermediary license is a
nonresident, the applicant, as a condition precedent to receiving or
holding a license, must:
(1) designate the commissioner as agent for service of process in
the manner, and with the same legal effect, provided for by this
chapter for designation of service of process upon unauthorized
insurers; and
(2) furnish the commissioner with the name and address of a
resident of Indiana upon whom notices or orders of the
commissioner or process affecting such nonresident reinsurance
intermediary may be served.
(c) A licensee who receives a license under subsection (b) shall
promptly notify the commissioner in writing of every change in its
designated agent for service of process, and a change in the licensee's
designated agent does not become effective until acknowledged by the
commissioner.

Indiana § 27-6-9-15 (Reinsurance intermediary license; issuance; application; authority to act; nonresidents) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.