§ 38.2-1865.4. Licensing nonresidents; reciprocal agreements with otherstates and Canadian provinces.
A. An individual or business entity who is not a resident as defined in §38.2-1800, but who is a resident of another state or a province of Canada,shall receive a viatical settlement broker license if:
1. The applicant presents proof in a form acceptable to the Commission thatthe applicant is currently licensed or otherwise authorized as a residentviatical settlement broker and is in good standing in his home state orprovince;
2. The applicant has submitted the proper application for licensure and haspaid the fees required by § 38.2-1865.1; and
3. The applicant's home state or province issues nonresident viaticalsettlement broker licenses to residents of this Commonwealth on the samebasis, or will permit a resident of this Commonwealth to act as a viaticalsettlement broker in such state or province without requiring a license.
B. For the purposes of this chapter, any individual whose place of residenceand place of business are in a city or town located partly within theCommonwealth and partly within another state may be considered as meeting therequirements as a resident of this Commonwealth, provided the other state hasestablished by law or regulation similar requirements as to residence of suchindividuals.
C. The Commission may enter into a reciprocal agreement with an appropriateofficial of any other state or province of Canada if such an agreement isrequired in order for a Virginia resident to be similarly licensed as anonresident in that state or province.
D. The Commission may verify the viatical settlement broker's licensingstatus through the Producer Database maintained by the NAIC, its affiliatesor subsidiaries.
E. A nonresident viatical settlement broker who moves from one state orprovince to another state shall file a change of address and provide acertification from the new home state or province within thirty calendar daysof the change of legal residence. No fee or license application is required.
F. Any licenses issued to nonresidents pursuant to this section shall beterminated at any time that the nonresident's equivalent authority in hishome state or province is terminated, suspended, or revoked.
§ 38.2-1865.4. Licensing nonresidents; reciprocal agreements with otherstates and Canadian provinces.
A. An individual or business entity who is not a resident as defined in §38.2-1800, but who is a resident of another state or a province of Canada,shall receive a viatical settlement broker license if:
1. The applicant presents proof in a form acceptable to the Commission thatthe applicant is currently licensed or otherwise authorized as a residentviatical settlement broker and is in good standing in his home state orprovince;
2. The applicant has submitted the proper application for licensure and haspaid the fees required by § 38.2-1865.1; and
3. The applicant's home state or province issues nonresident viaticalsettlement broker licenses to residents of this Commonwealth on the samebasis, or will permit a resident of this Commonwealth to act as a viaticalsettlement broker in such state or province without requiring a license.
B. For the purposes of this chapter, any individual whose place of residenceand place of business are in a city or town located partly within theCommonwealth and partly within another state may be considered as meeting therequirements as a resident of this Commonwealth, provided the other state hasestablished by law or regulation similar requirements as to residence of suchindividuals.
C. The Commission may enter into a reciprocal agreement with an appropriateofficial of any other state or province of Canada if such an agreement isrequired in order for a Virginia resident to be similarly licensed as anonresident in that state or province.
D. The Commission may verify the viatical settlement broker's licensingstatus through the Producer Database maintained by the NAIC, its affiliatesor subsidiaries.
E. A nonresident viatical settlement broker who moves from one state orprovince to another state shall file a change of address and provide acertification from the new home state or province within thirty calendar daysof the change of legal residence. No fee or license application is required.
F. Any licenses issued to nonresidents pursuant to this section shall beterminated at any time that the nonresident's equivalent authority in hishome state or province is terminated, suspended, or revoked.
§ 38.2-1865.4. Licensing nonresidents; reciprocal agreements with otherstates and Canadian provinces.
A. An individual or business entity who is not a resident as defined in §38.2-1800, but who is a resident of another state or a province of Canada,shall receive a viatical settlement broker license if:
1. The applicant presents proof in a form acceptable to the Commission thatthe applicant is currently licensed or otherwise authorized as a residentviatical settlement broker and is in good standing in his home state orprovince;
2. The applicant has submitted the proper application for licensure and haspaid the fees required by § 38.2-1865.1; and
3. The applicant's home state or province issues nonresident viaticalsettlement broker licenses to residents of this Commonwealth on the samebasis, or will permit a resident of this Commonwealth to act as a viaticalsettlement broker in such state or province without requiring a license.
B. For the purposes of this chapter, any individual whose place of residenceand place of business are in a city or town located partly within theCommonwealth and partly within another state may be considered as meeting therequirements as a resident of this Commonwealth, provided the other state hasestablished by law or regulation similar requirements as to residence of suchindividuals.
C. The Commission may enter into a reciprocal agreement with an appropriateofficial of any other state or province of Canada if such an agreement isrequired in order for a Virginia resident to be similarly licensed as anonresident in that state or province.
D. The Commission may verify the viatical settlement broker's licensingstatus through the Producer Database maintained by the NAIC, its affiliatesor subsidiaries.
E. A nonresident viatical settlement broker who moves from one state orprovince to another state shall file a change of address and provide acertification from the new home state or province within thirty calendar daysof the change of legal residence. No fee or license application is required.
F. Any licenses issued to nonresidents pursuant to this section shall beterminated at any time that the nonresident's equivalent authority in hishome state or province is terminated, suspended, or revoked.
