NAC616C.353. Application for license; necessary documentation; persons required to comply.

     1. Except as otherwise provided in this section, an applicant for licensing as a representative shall submit to the Department:

     (a) An application, in a form prescribed by the Director, showing that he or she:

          (1) Is at least 18 years of age;

          (2) Is of good moral character;

          (3) Is competent to transact business and discharge the responsibilities of a representative; and

          (4) Maintains a place of business as required by NAC 616C.365; and

     (b) A copy of any written agreement, then in force, under the terms of which the applicant is to be compensated for his or her services as a representative.

     2. If an applicant for licensing is a corporation, it shall submit to the Department:

     (a) A copy of its articles of incorporation and bylaws;

     (b) A list of its officers and directors;

     (c) The address of its principal place of business and each of its branch offices; and

     (d) The name and address of each person authorized to act for the corporation in transacting the business of a representative.

     3. If an applicant for licensing is a partnership, it shall submit to the Department:

     (a) A copy of the partnership agreement;

     (b) The name and address of each partner;

     (c) The address of its principal place of business and each of its branch offices; and

     (d) The name and address of each person authorized to act for the partnership in transacting the business of a representative.

     4. Except as otherwise provided in NAC 616C.359, each person designated as the agent of a corporation or partnership pursuant to paragraph (d) of subsection 2 or paragraph (d) of subsection 3, respectively, and each partner identified pursuant to paragraph (b) of subsection 3 shall comply with the provisions of subsection 1 and NAC 616C.356 and 616C.359. For the purposes of NAC 616C.350 to 616C.377, inclusive, the act of any such agent or partner shall be deemed to be the act of the corporation or partnership for which he or she is acting.

     (Added to NAC by Comm’r of Insurance, eff. 5-23-88; A 5-27-92; A by Dep’t of Administration, 5-23-96)