§ 522b-10

522B.10 Temporary licensing. 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 commissionerdeems that the temporary license is necessary for the servicing of an insurance business inthe 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 adequatetime for the sale of the insurance business owned by the insurance producer, for the recoveryor return of the insurance producer to the business, or for the training and licensing of newpersonnel 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 thelicense. 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.

ive 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 residentinsurance producer license within ten business days from the date that the applicantsubmitted fingerprints and any other required identifying information to the commissionerpursuant 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 insuranceproducer license within ten business days from that date that the applicant submittedfingerprints and any other required identifying information to the commissioner pursuant tosection 522B.5A, subsection 3. 2. The commissioner may by order limit the authority of any temporary licensee in any way deemed necessary to protect insureds and the public.

e commissioner pursuant tosection 522B.5A, subsection 3. 2. The commissioner may by order limit the authority of any temporary licensee in any way deemed necessary to protect insureds and the public. The commissioner may require thetemporary licensee to have a suitable sponsor who is a licensed insurance producer or insurerand who assumes responsibility for all acts of the temporary licensee and may impose othersimilar requirements designed to protect insureds and the public. The commissioner may byorder revoke a temporary license if the interest of insureds or the public is endangered. Atemporary license shall not continue after the owner or the personal representative disposesof the business. 2001 Acts, ch 16, §24, 37; 2022 Acts, ch 1134, §27 Sat Dec 23 00:54:05 2023 Iowa Code 2024, Section 522B.10 (18, 0)