A. No person, unless he holds an appropriate license shall:
1. Represent to members of the public that he provides planning or consultingservices beyond those within the normal scope of activities of a licensedinsurance agent; or
2. Except as provided in § 38.2-1812.2, charge or receive, directly orindirectly, a fee or other compensation for insurance advice, other thancommissions received in such person's capacity as a licensed insurance agentor surplus lines broker resulting from selling, soliciting, or negotiatinginsurance or health care services as allowed by his license.
B. Each individual applying for an insurance consultant's license shall applyto the Commission in a form acceptable to the Commission, and shall providesatisfactory evidence of having met the following requirements:
1. To be licensed as a property and casualty insurance consultant theapplicant must pass, within 183 calendar days prior to the date ofapplication for such license, the property and casualty examination asrequired in § 38.2-1817, except that an applicant who, at the time of suchapplication holds an active property and casualty insurance agent license,shall be exempt from the examination requirements;
2. To be licensed as a life and health insurance consultant, the applicantmust pass, within 183 calendar days prior to the date of application for suchlicense, both the life and annuities and the health examinations as requiredin § 38.2-1817, except that an applicant who, at the time of such applicationholds both an active life and annuities license and an active health agentlicense, shall be exempt from the examination requirements; and
3. Except where prohibited by state or federal law, by submitting anapplication for license, the applicant shall be deemed to have appointed theclerk of the Commission as the agent for service of process on the applicantin any action or proceeding arising in this Commonwealth out of or inconnection with the exercise of the license. Such appointment of the clerk ofthe Commission as agent for service of process shall be irrevocable duringthe period within which a cause of action against the applicant may arise outof transactions with respect to subjects of insurance in this Commonwealth.Service of process on the clerk of the Commission shall conform to theprovisions of Chapter 8 (§ 38.2-800 et seq.) of this title.
C. Any individual who acts as an insurance consultant as an officer,director, principal or employee of a business entity shall be required tohold an appropriate individual license as an insurance consultant.
D. A business entity acting as an insurance consultant is required to obtainan insurance consultant license. Application shall be made in a form andmanner acceptable to the Commission. Before approving the application, theCommission shall find that:
1. The business entity has paid the fee set forth in this section; and
2. The business entity has designated a licensed producer responsible for thebusiness entity's compliance with the insurance laws, rules and regulationsof this Commonwealth.
E. The Commission may require any documents reasonably necessary to verifythe information contained in an application.
F. Each applicant for an insurance consultant's license shall submit anonrefundable application processing fee of fifty dollars at the time ofinitial application for such license.
(1985, c. 3, § 38.1-327.63; 1986, c. 562; 1987, c. 678; 1992, c. 574; 1997,c. 583; 2001, c. 706; 2008, c. 213.)
A. No person, unless he holds an appropriate license shall:
1. Represent to members of the public that he provides planning or consultingservices beyond those within the normal scope of activities of a licensedinsurance agent; or
2. Except as provided in § 38.2-1812.2, charge or receive, directly orindirectly, a fee or other compensation for insurance advice, other thancommissions received in such person's capacity as a licensed insurance agentor surplus lines broker resulting from selling, soliciting, or negotiatinginsurance or health care services as allowed by his license.
B. Each individual applying for an insurance consultant's license shall applyto the Commission in a form acceptable to the Commission, and shall providesatisfactory evidence of having met the following requirements:
1. To be licensed as a property and casualty insurance consultant theapplicant must pass, within 183 calendar days prior to the date ofapplication for such license, the property and casualty examination asrequired in § 38.2-1817, except that an applicant who, at the time of suchapplication holds an active property and casualty insurance agent license,shall be exempt from the examination requirements;
2. To be licensed as a life and health insurance consultant, the applicantmust pass, within 183 calendar days prior to the date of application for suchlicense, both the life and annuities and the health examinations as requiredin § 38.2-1817, except that an applicant who, at the time of such applicationholds both an active life and annuities license and an active health agentlicense, shall be exempt from the examination requirements; and
3. Except where prohibited by state or federal law, by submitting anapplication for license, the applicant shall be deemed to have appointed theclerk of the Commission as the agent for service of process on the applicantin any action or proceeding arising in this Commonwealth out of or inconnection with the exercise of the license. Such appointment of the clerk ofthe Commission as agent for service of process shall be irrevocable duringthe period within which a cause of action against the applicant may arise outof transactions with respect to subjects of insurance in this Commonwealth.Service of process on the clerk of the Commission shall conform to theprovisions of Chapter 8 (§ 38.2-800 et seq.) of this title.
C. Any individual who acts as an insurance consultant as an officer,director, principal or employee of a business entity shall be required tohold an appropriate individual license as an insurance consultant.
D. A business entity acting as an insurance consultant is required to obtainan insurance consultant license. Application shall be made in a form andmanner acceptable to the Commission. Before approving the application, theCommission shall find that:
1. The business entity has paid the fee set forth in this section; and
2. The business entity has designated a licensed producer responsible for thebusiness entity's compliance with the insurance laws, rules and regulationsof this Commonwealth.
E. The Commission may require any documents reasonably necessary to verifythe information contained in an application.
F. Each applicant for an insurance consultant's license shall submit anonrefundable application processing fee of fifty dollars at the time ofinitial application for such license.
(1985, c. 3, § 38.1-327.63; 1986, c. 562; 1987, c. 678; 1992, c. 574; 1997,c. 583; 2001, c. 706; 2008, c. 213.)
A. No person, unless he holds an appropriate license shall:
1. Represent to members of the public that he provides planning or consultingservices beyond those within the normal scope of activities of a licensedinsurance agent; or
2. Except as provided in § 38.2-1812.2, charge or receive, directly orindirectly, a fee or other compensation for insurance advice, other thancommissions received in such person's capacity as a licensed insurance agentor surplus lines broker resulting from selling, soliciting, or negotiatinginsurance or health care services as allowed by his license.
B. Each individual applying for an insurance consultant's license shall applyto the Commission in a form acceptable to the Commission, and shall providesatisfactory evidence of having met the following requirements:
1. To be licensed as a property and casualty insurance consultant theapplicant must pass, within 183 calendar days prior to the date ofapplication for such license, the property and casualty examination asrequired in § 38.2-1817, except that an applicant who, at the time of suchapplication holds an active property and casualty insurance agent license,shall be exempt from the examination requirements;
2. To be licensed as a life and health insurance consultant, the applicantmust pass, within 183 calendar days prior to the date of application for suchlicense, both the life and annuities and the health examinations as requiredin § 38.2-1817, except that an applicant who, at the time of such applicationholds both an active life and annuities license and an active health agentlicense, shall be exempt from the examination requirements; and
3. Except where prohibited by state or federal law, by submitting anapplication for license, the applicant shall be deemed to have appointed theclerk of the Commission as the agent for service of process on the applicantin any action or proceeding arising in this Commonwealth out of or inconnection with the exercise of the license. Such appointment of the clerk ofthe Commission as agent for service of process shall be irrevocable duringthe period within which a cause of action against the applicant may arise outof transactions with respect to subjects of insurance in this Commonwealth.Service of process on the clerk of the Commission shall conform to theprovisions of Chapter 8 (§ 38.2-800 et seq.) of this title.
C. Any individual who acts as an insurance consultant as an officer,director, principal or employee of a business entity shall be required tohold an appropriate individual license as an insurance consultant.
D. A business entity acting as an insurance consultant is required to obtainan insurance consultant license. Application shall be made in a form andmanner acceptable to the Commission. Before approving the application, theCommission shall find that:
1. The business entity has paid the fee set forth in this section; and
2. The business entity has designated a licensed producer responsible for thebusiness entity's compliance with the insurance laws, rules and regulationsof this Commonwealth.
E. The Commission may require any documents reasonably necessary to verifythe information contained in an application.
F. Each applicant for an insurance consultant's license shall submit anonrefundable application processing fee of fifty dollars at the time ofinitial application for such license.
(1985, c. 3, § 38.1-327.63; 1986, c. 562; 1987, c. 678; 1992, c. 574; 1997,c. 583; 2001, c. 706; 2008, c. 213.)
