Sec. 16. (a) The commissioner shall waive any requirements, except the requirements imposed by section 8 of this chapter, for a nonresident license applicant with a valid license from the applicant’s home state if the applicant’s home state awards nonresident licenses to residents of Indiana on the same basis.

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Terms Used In Indiana Code 27-1-15.6-16

  • Commissioner: means the "insurance commissioner" of this state. See Indiana Code 27-1-2-3
  • Insurance: means a contract of insurance or an agreement by which one (1) party, for a consideration, promises to pay money or its equivalent or to do an act valuable to the insured upon the destruction, loss or injury of something in which the other party has a pecuniary interest, or in consideration of a price paid, adequate to the risk, becomes security to the other against loss by certain specified risks; to grant indemnity or security against loss for a consideration. See Indiana Code 27-1-2-3
     (b) A nonresident producer’s satisfaction of the nonresident producer’s home state’s continuing education requirements for licensed insurance producers also satisfies Indiana’s continuing education requirements if the non-resident producer’s home state recognizes the satisfaction of the non-resident producer’s home state’s continuing education requirements imposed upon producers from Indiana on the same basis.

As added by P.L.132-2001, SEC.3.

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