Maine Revised Statutes Title 24-A Sec. 1420-O – Reciprocity
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1. Reciprocity. The superintendent shall waive any requirements for a nonresident license applicant with a valid license from that person‘s home state, except the requirements imposed by section 1420?G, if the applicant’s home state awards nonresident licenses to residents of this State on the same basis.
[PL 2001, c. 259, §24 (NEW).]
Terms Used In Maine Revised Statutes Title 24-A Sec. 1420-O
- Home state: means the District of Columbia and any state or territory of the United States that is the location of an insurance producer's principal place of residence or principal place of business, and in which that person is licensed to act as an insurance producer. See Maine Revised Statutes Title 24-A Sec. 1420-A
- License: means a document issued by the superintendent authorizing a person to act as an insurance producer for the lines of authority specified in the document. See Maine Revised Statutes Title 24-A Sec. 1420-A
- Nonresident: means a person other than a resident of this State. See Maine Revised Statutes Title 24-A Sec. 1402
- Person: means an individual or a business entity. See Maine Revised Statutes Title 24-A Sec. 1420-A
2. Continuing education. Satisfaction of a nonresident producer’s home state’s continuing education requirements for licensed insurance producers constitutes satisfaction of this State’s continuing education requirements if the nonresident producer’s home state recognizes the satisfaction of its continuing education requirements imposed upon producers from this State on the same basis.
[PL 2001, c. 259, §24 (NEW).]
SECTION HISTORY
PL 2001, c. 259, §24 (NEW).