Maine § 24-A §1420-F License

Maine Statutes

§ 24-A §1420-F — License

Maine·Title 24-A MAINE INSURANCE CODE·Ch. 16 PRODUCERS, ADJUSTERS AND CONSULTANTS

1.Issuance; lines of authority. Unless denied licensure pursuant to section 1420‑K, a person who has met the requirements of sections 1420‑D and 1420‑E must be issued an insurance producer license. An insurance producer may receive qualification for a license in one or more of the following lines of authority, as designated in this subsection for the purposes of this subchapter:

2.Duration. An insurance producer license remains in effect, unless revoked or suspended, as long as any applicable fee set forth in section 601 is paid and education requirements pursuant to subchapter VII for resident individual producers are met by the due date.

3.Lapse. An individual insurance producer whose license lapses may, within 12 months, reinstate the same license without the necessity of passing a w

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1.
Issuance; lines of authority.
Unless denied licensure pursuant to section 1420‑K, a person who has met the requirements of sections 1420‑D and 1420‑E must be issued an insurance producer license. An insurance producer may receive qualification for a license in one or more of the following lines of authority, as designated in this subsection for the purposes of this subchapter:
2.
Duration.
An insurance producer license remains in effect, unless revoked or suspended, as long as any applicable fee set forth in section 601 is paid and education requirements pursuant to subchapter VII for resident individual producers are met by the due date.
3.
Lapse.
An individual insurance producer whose license lapses may, within 12 months, reinstate the same license without the necessity of passing a written examination.
4.
Waiver.
A licensed insurance producer who is unable to comply with license continuation procedures due to military service or some other extenuating circumstance, such as a long-term medical disability, may request a waiver of those procedures. The producer may also request a waiver of any examination requirement or any other fine or sanction imposed for failure to comply with continuation procedures.
5.
Contents.
The license must contain the licensee's name, address, personal identification number, the date of issuance, the lines of authority and any other information required by the superintendent.
6.
Change of name or address.
A licensee shall inform the superintendent by any means acceptable to the superintendent of a change of address within 30 days of the change. Failure to timely inform the superintendent of a change in legal name or address results in a penalty pursuant to section 601.
7.
Contract with other entities.
In order to assist in the performance of the superintendent's duties, the superintendent may contract with nongovernmental entities, including the National Association of Insurance Commissioners, its affiliates or subsidiaries or its successor organization, to perform any ministerial functions, including the collection of fees, related to producer licensing that the superintendent and the nongovernmental entity determine appropriate.

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Legislative History

PL 2001, c. 259, §24 (NEW). PL 2005, c. 43, §2 (AMD). PL 2007, c. 51, §3 (AMD). PL 2015, c. 77, §§2-4 (AMD). PL 2015, c. 133, §2 (AMD). PL 2021, c. 354, §3 (AMD).