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Senate Engrossed |
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State of Arizona Senate Fifty-fourth Legislature Second Regular Session 2020
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CHAPTER 68
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SENATE BILL 1091 |
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AN ACT
amending section 20‑289, Arizona Revised Statutes; relating to insurance producer licensing.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Section 20-289, Arizona Revised Statutes, is amended to read:
20-289. Expiration; surrender; renewal
A. Any license that is issued pursuant to this article, other than a temporary license, continues in force until it expires or the director suspends, revokes or terminates the license. The license is also subject to renewal pursuant to this section.
B. A license that is issued or renewed pursuant to this article or a license that is issued or renewed pursuant to chapter 6, article 9 of this title expires quadrennially as follows:
1. If the licensee is an individual, on the last day of the month of the licensee's birthday, but not less than three years and not more than four years after the last day of the month in which the license is issued or is required to be renewed.
2. If the licensee is a business entity, on the last day of the same month four years after the issuance or renewal due date of the license as provided pursuant to this article.
C. The director may renew a license if the director receives from the licensee all of the following on or before the license expiration date:
1. An application on a form approved by the director.
2. The license fee prescribed in section 20‑167.
3. Evidence that the licensee has complied with the continuing education requirements prescribed in chapter 18 of this title.
D. Before renewing a license, the director may require the applicant to:
1. Provide all documents that are reasonably necessary to verify the information that is contained in the application and any other information including prior criminal records.
2. Submit a full set of fingerprints to the department. The department of insurance and financial institutions shall submit the fingerprints to the department of public safety for the purpose of obtaining a state and federal criminal records check pursuant to section 41‑1750 and Public Law 92‑544. The department of public safety may exchange this fingerprint data with the federal bureau of investigation.
E. Any license for which the director does not receive timely application for renewal and full payment of fees expires at midnight on the renewal date. During the year after the expiration of a license under this section, a person who otherwise meets the qualifications for a license may renew an expired license by filing with the director a renewal application, the quadrennial license fee and an additional one hundred dollars $100 as a late renewal fee. Any application that is received during this one year one‑year period for the same license that expired under this section is deemed a renewal application. Any application that is received after the one year one‑year period for the same license that expired under this section is deemed a new application.
F. On the written request of a person who is licensed pursuant to this article, the director may accept the voluntary surrender of the person's authority to transact one or more lines of insurance or of the person's entire license. A person who surrenders an authority or a license under this subsection shall not reapply for the same authority or license for at least one year after the date of the surrender may obtain the same authority or license only if the person complies with the requirements that apply to a person who has not previously held the authority or license.
APPROVED BY THE GOVERNOR JUNE 5, 2020.
FILED IN THE OFFICE OF THE SECRETARY OF STATE JUNE 5, 2020.