Should a state require that a resident be licensed as a producer if he or she is entitled to renewal or other deferred commissions produced in another state?
Answer 7: No. PLMA Sections 3 and 13C indicate that a producer license is required to sell, solicit, or negotiate the sale of insurance but do not suggest that a license is needed after such activity has ceased. The person’s receipt of renewal or other deferred commissions does not result in any licensing requirement.
Related Questions
- Should a state require that a resident be licensed as a producer if he or she is entitled to renewal or other deferred commissions produced in another state?
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