(a) An individual residing in this state applying for an insurance producer license shall make application to the commissioner on the uniform application and declare under penalty of refusal, suspension or revocation of the license that the statements made in the application are true, correct and complete to the best of the individual’s knowledge and belief. Before approving the application, the commissioner shall find that the individual:

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Terms Used In Tennessee Code 56-6-106

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Business entity: means a corporation, association, partnership, limited liability company, limited liability partnership, or other legal entity. See Tennessee Code 56-6-102
  • Commissioner: means the commissioner of commerce and insurance. See Tennessee Code 56-6-102
  • Contract: A legal written agreement that becomes binding when signed.
  • Insurance: means any of the lines of authority in §. See Tennessee Code 56-6-102
  • Insurance producer: means a person required to be licensed under the laws of this state to sell, solicit or negotiate insurance. See Tennessee Code 56-6-102
  • License: means a document issued by this state's commissioner authorizing a person to act as an insurance producer for the lines of authority specified in the document. See Tennessee Code 56-6-102
  • Limited lines producer: means a person authorized by the commissioner to sell, solicit or negotiate limited lines insurance. See Tennessee Code 56-6-102
  • Negotiate: means the act of conferring directly with or offering advice directly to a purchaser or prospective purchaser of a particular contract of insurance concerning any of the substantive benefits, terms or conditions of the contract. See Tennessee Code 56-6-102
  • Person: means an individual or a business entity. See Tennessee Code 56-6-102
  • Sell: means to exchange a contract of insurance by any means, for money or its equivalent, on behalf of an insurance company. See Tennessee Code 56-6-102
  • Solicit: means attempting to sell insurance or asking or urging a person to apply for a particular kind of insurance from a particular company. See Tennessee Code 56-6-102
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
  • Uniform application: means the current version of the NAIC uniform application for resident and nonresident producer licensing. See Tennessee Code 56-6-102
  • Uniform business entity application: means the current version of the NAIC uniform business entity application for resident and nonresident business entities. See Tennessee Code 56-6-102
(1) Is at least eighteen (18) years of age;
(2) Has not committed any act that is a ground for denial, suspension or revocation set forth in § 56-6-112;
(3) [Deleted by 2023 amendment.]
(4) Has paid the fees set forth in § 56-6-121; and
(5) Has successfully passed the examinations for the lines of authority for which the person has applied.
(b) A business entity may obtain an insurance producer‘s license; however, only an individual licensed producer or limited lines producer shall sell, solicit or negotiate a contract of insurance in this state. Application shall be made using the uniform business entity application. An individual authorized and acting on behalf of the business entity shall declare under penalty of refusal, suspension or revocation of the license that the statements made in the application are true, correct and complete to the best of the individual’s knowledge and belief. Before approving the application, the commissioner shall find that:

(1) The business entity has paid the applicable fees set forth in § 56-6-121; and
(2) The business entity has designated a principal or officer who also holds a current producer license responsible for the business entity’s compliance with the insurance laws, rules and regulations of this state.
(c) The commissioner may require any documents reasonably necessary to verify the information contained in an application.
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