38.2-1836 - Licensing nonresidents; reciprocal agreements with other states and Canadian provinces.
§ 38.2-1836. Licensing nonresidents; reciprocal agreements with other statesand Canadian provinces.
A. An individual or business entity who is not a resident as defined in §38.2-1800, but who is a resident of another state or territory of the UnitedStates or a province of Canada shall receive a nonresident agent license if:
1. The applicant presents proof in a form acceptable to the Commission thatthe applicant is currently licensed as a resident and in good standing in hishome state;
2. The applicant has submitted the proper request for licensure and has paidthe fees required by § 38.2-1819;
3. The applicant has submitted or transmitted to the Commission theapplication for licensure that the person submitted to his home state, or inlieu of the same, a completed Uniform Application; and
4. The person's home state issues nonresident agent licenses to residents ofthis Commonwealth on the same basis.
B. For the purposes of this chapter, any individual whose place of residenceand place of business are in a city or town located partly within theCommonwealth and partly within another state may be considered as meeting therequirements as a resident of this Commonwealth, provided the other state hasestablished by law or regulation similar requirements as to residence of suchindividuals.
C. The Commission may enter into a reciprocal agreement with an appropriateofficial of any other state, territory or province of Canada if such anagreement is required in order for a Virginia resident to be similarlylicensed as a nonresident in that state, territory or province. No applicantfor a nonresident agent license shall be permitted to obtain such a licenseunless such agent's home state will grant a similar license to a resident ofthis Commonwealth.
D. The Commission may verify the agent's licensing status through theProducer Database maintained by the NAIC, its affiliates or subsidiaries.
E. A nonresident agent who moves from one state or province to another stateshall file a change of address and provide a certification from the new homestate within thirty calendar days of the change of legal residence. No fee orlicense application is required.
F. Notwithstanding any other provision of this chapter, a person licensed asa limited lines credit insurance or other type of limited lines agent in hishome state shall receive a nonresident limited lines agent license, pursuantto subsection A of this section, granting the same scope of authority as isgranted under the license issued by the agent's home state. A person holdingan unrestricted license from his home state in which the authority of thelicense is less than the total authority prescribed in the associated majorlines pursuant §§ 38.2-1814 through 38.2-1815.1 shall be issued a restrictednonresident license providing authority equivalent to that held by the agentin his home state.
G. Any licenses and appointments issued to nonresidents pursuant to thissection shall be terminated at any time that the nonresident's equivalentauthority in his home state is terminated, suspended, or revoked.
(Code 1950, § 38.1-301.9; 1956, c. 541; 1979, c. 513, § 38.1-327.45; 1980, c.743; 1981, c. 604; 1986, c. 562; 1987, c. 521; 1988, c. 335; 1989, c. 435;1990, c. 464; 2001, c. 706; 2008, c. 213.)