2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 522B - LICENSING OF INSURANCE PRODUCERS
522B.1 - DEFINITIONS.

        522B.1  DEFINITIONS.
         As used in this chapter, unless the context otherwise requires:
         1.  "Business entity" means a corporation, association,
      partnership, limited liability company, limited liability
      partnership, or other legal entity.
         2.  "Commissioner" means the commissioner of insurance.
         3.  "Exclusive insurance producer" means a licensed insurance
      producer whose contract with an insurer requires the insurance
      producer to act as an agent only for that insurer or a group of
      insurers under common ownership or control or other insurers
      authorized by that insurer.
         4.  "Home state" means the District of Columbia and any state
      or territory of the United States in which an insurance producer
      maintains the producer's principal place of residence or principal
      place of business and is licensed to act as an insurance producer.
         5.  "Insurance" means any of the lines of authority an insurer
      is authorized to sell in this state.
         6.  "Insurance producer" means a person required to be
      licensed under the laws of this state to sell, solicit, or negotiate
      insurance.
         7.  "Insurer" means a person engaged in the business of
      insurance who is regulated under chapter 508, 512B, 515, or 520.
         8.  "License" means a document issued pursuant to this chapter
      by the commissioner authorizing a person to act as an insurance
      producer for the lines of authority specified in the document.  A
      license by itself does not create any authority, actual, apparent, or
      inherent, in the holder to represent or commit an insurer.
         9.  "Limited lines insurance" means any authority granted by
      the home state which restricts the authority of the license to less
      than the total authority prescribed in the associated major lines
      pursuant to section 522B.6, subsection 2, paragraphs "a" through
      "f", and any other line of insurance that the commissioner may
      deem it necessary to recognize for the purposes of complying with
      section 522B.7, subsection 4.
         10.  "Limited lines producer" means a person licensed by the
      commissioner to sell, solicit, or negotiate limited lines insurance.

         11.  "Negotiate" means the act of conferring directly with or
      offering advice directly to a purchaser or prospective purchaser of a
      particular contract of insurance concerning any of the substantive
      benefits, terms, or conditions of the contract, provided that the
      person engaged in that act either sells insurance or obtains
      insurance from insurers for purchasers.
         12.  "Person" means an individual or a business entity.
         13.  "Producer database" means the national database of
      insurance producers maintained by the national association of
      insurance commissioners, its affiliates, or subsidiaries.
         14.  "Sell" means to exchange a contract of insurance by any
      means, for money or its equivalent, on behalf of an insurer.
         15.  "Solicit" or "solicitation" means attempting to sell
      insurance or asking or urging a person to apply for a particular kind
      of insurance from a particular company.
         16.  "Terminate" means the cancellation of the relationship
      between an insurance producer and the insurer or the termination of
      an insurance producer's authority to transact insurance.
         17.  "Uniform application" means the current version of the
      national association of insurance commissioners uniform application
      for resident and nonresident insurance producer licensing.
         18.  "Uniform business entity application" means the current
      version of the national association of insurance commissioners
      uniform business entity application for resident and nonresident
      business entities.  

         2001 Acts, ch 16, §15, 37; 2002 Acts, ch 1111, §35; 2002 Acts, ch
      1119, § 75
         Referred to in § 515.106, 518.16A, 518A.42, 533C.103