2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 522B - LICENSING OF INSURANCE PRODUCERS
522B.6 - LICENSE.

        522B.6  LICENSE.
         1.  A person who meets the requirements of sections 522B.4 and
      522B.5, unless otherwise denied licensure pursuant to section
      522B.11, shall be issued an insurance producer license.  An insurance
      producer license is valid for three years.
         2.  An insurance producer may qualify for a license in one or more
      of the following lines of authority:
         a.  Life insurance providing coverage on human lives,
      including benefits of endowment and annuities, and may include
      benefits in the event of death or dismemberment by accident and
      benefits for disability income.
         b.  Accident and health or sickness insurance providing
      coverage for sickness, bodily injury, or accidental death, and may
      include benefits for disability income.
         c.  Property insurance providing coverage for the direct or
      consequential loss or damage to property of any kind.
         d.  Casualty insurance providing coverage against legal
      liability, including that for death, injury, or disability, or damage
      to real or personal property.
         e.  Variable life and variable annuity products insurance
      coverage provided under variable life insurance contracts and
      variable annuities.
         f.  Personal lines property and casualty insurance sold to
      individuals and families primarily for noncommercial purposes.
         g.  Excess and surplus lines insurance provided by certain
      nonadmitted insurers pursuant to section 515.120.
         h.  Credit insurance, including credit life, credit
      disability, credit property, credit unemployment, involuntary
      unemployment, mortgage life, mortgage guaranty, mortgage disability,
      guaranteed automobile protection insurance, and any other form of
      insurance offered in connection with an extension of credit that is
      limited to partially or wholly extinguishing a credit obligation and
      that the commissioner determines should be designated a form of
      credit insurance.
         i.  Any other line of insurance permitted under state law or
      by rule.
         3.  An insurance producer license remains in effect unless revoked
      or suspended as long as all required fees are paid and continuing
      education requirements for resident individual insurance producers
      are met by any applicable due date.  Resident individual insurance
      producers are required to complete continuing education requirements
      in order to be eligible for license renewal unless exempted from such
      requirements under this chapter or by rule.
         4.  An individual insurance producer who allows the producer's
      license to lapse, within twelve months from the due date of the
      renewal fee, may have the same license reinstated without the
      necessity of passing a written examination upon the payment of a
      reinstatement fee as specified by rule of the commissioner.  Such
      reinstatement fee shall be in addition to the required renewal fee.
         5.  A licensed insurance producer who is unable to comply with
      license renewal procedures due to military service or some other
      extenuating circumstance may request a waiver of those procedures.
      Such insurance producer may also request a waiver of any examination
      requirement or any other penalty or sanction imposed for failure to
      comply with renewal procedures.
         6.  The license shall contain the licensee's name, address,
      personal identification number, and the date of issuance, the lines
      of authority, the expiration date, and any other information the
      commissioner deems necessary.
         7.  A licensee shall inform the commissioner by any means
      acceptable to the commissioner of a change of legal name or address
      within thirty days of the change.  Failure to timely inform the
      commissioner of a change in legal name or address may result in a
      penalty as specified in section 522B.17.
         8.  In order to assist with the commissioner's duties, the
      commissioner may contract with a nongovernmental entity, including
      the national association of insurance commissioners or any affiliate
      or subsidiary the national association of insurance commissioners
      oversees, to perform any ministerial functions, including the
      collection of fees, related to producer licensing that the
      commissioner deems appropriate.  

         2001 Acts, ch 16, §20, 37; 2002 Acts, ch 1050, §48; 2002 Acts, ch
      1119, § 77; 2007 Acts, ch 137, §23; 2007 Acts, ch 152, §82
         Referred to in § 522B.1