Missouri Code of State Regulations
Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE
Division 700 - Insurance Licensing
Chapter 1 - Insurance Producers
Section 20 CSR 700-1.010 - Insurance Producers' Examination and Licensing Procedures and Standards
Universal Citation: 20 MO Code of State Regs 700-1.010
Current through Register Vol. 49, No. 6, March 15, 2024
PURPOSE: This rule specifies application forms and fees for insurance producers and explains insurance producer licensing standards and procedures.
(1) Application Forms. The following forms have been adopted and approved for filing with the department:
(A) The Uniform
Application for Individual Insurance Producer License form (Form UA-IP),
adopted by the NAIC on May 10, 2006, or any form which substantially comports
with the specified form; and
(B)
The Uniform Application for Business Entity Insurance Producer License form
(Form UA-BEP), adopted by the NAIC on May 10, 2006, or any form which
substantially comports with the specified form.
(2) Application and Fees. Application for licensure as an individual insurance producer or business entity producer shall contain the information/requirements outlined in sections 375.015 to 375.018, RSMo and this rule and may be submitted by electronic means to the National Insurance Producer Registry (NIPR) or other system(s) as the director may designate.
(A) Initial Licensure.
1. Resident Individual Insurance Producer.
A. A completed Form UA-IP; and
B. One hundred dollar ($100) application
fee.
2. Nonresident
Individual Insurance Producer.
A. A completed
Form UA-IP; and
B. One hundred
dollar ($100) application fee.
3. Resident Business Entity Insurance
Producer.
A. A completed Form
UA-BEP;
B. One hundred dollar
($100) application fee;
C. List of
Missouri-licensed producers conducting business on behalf of the business
entity; and
D. Domestic
corporations, limited liability companies, or limited liability partnerships
must include a certificate of good standing, certificate of incorporation, or
certificate of organization issued by the secretary of state and dated within
the past year. Partnerships must include a copy of the fictitious name
registration as issued by the secretary of state.
4. Nonresident Business Entity Insurance
Producer.
A. A completed Form
UA-BEP;
B. One hundred dollar
($100) application fee; and
C. List
of Missouri-licensed producers conducting business on behalf of the business
entity.
5.
Organizational Credit Business Entity.
A. A
completed Form UA-BEP;
B. One
hundred dollar ($100) application fee;
C. A list of employees to whom the business
entity has paid, within the preceding twelve (12) months, any salary or
commission for the sale, solicitation, or negotiation of credit insurance
contracts; and
D. An additional fee
of eighteen dollars ($18) per employee with whom the business entity has
contracted to pay any salary or commission for the sale, solicitation, or
negotiation of credit insurance contracts following licensure.
(B) Renewal
Application.
1. Individual Producers.
A. An updated Form UA-IP. If applying for
renewal through NIPR, the application is deemed submitted at the time of fee
payment pursuant to the producer's continuing duty to amend the application in
sections
375.018
and
375.141,
RSMo; and
B. One hundred dollar
($100) application fee.
2. Business Entity Producers.
A. An updated Form UA-BEP. If applying for
renewal through NIPR, the application is deemed submitted at the time of fee
payment pursuant to the producer's continuing duty to amend the application in
sections
375.018
and
375.141,
RSMo;
B. One hundred dollar ($100)
application fee; and
C. List of
Missouri-licensed producers conducting business on behalf of the business
entity.
3.
Organizational Credit Business Entity.
A. An
updated Form UA-BEP. If applying for renewal through NIPR, the application is
deemed submitted at the time of fee payment pursuant to the producer's
continuing duty to amend the application in sections
375.018 and 375.141, RSMo;
B. One hundred dollar ($100) application
fee;
C. An updated list of
employees to whom the business entity has paid, within the preceding twelve
(12) months, any salary or commission for the sale, solicitation, or
negotiation of credit insurance contracts; and
D. An additional fee of eighteen dollars
($18) per employee with whom the business entity has contracted to pay any
salary or commission for the sale, solicitation, or negotiation of credit
insurance contracts following licensure.
(C) All fees must be paid by cashier's check,
money order, company check, or electronic funds transfer. Fees submitted with
electronic applications shall be paid by electronic funds transfer, credit
card, or other methods approved by any designee under this rule.
(D) Application and/or renewal fees are not
refundable if the application is refused by the director or withdrawn by the
applicant.
(3) Examination Procedures.
(A) Before an
individual may be licensed to sell certain lines of insurance, the applicant
must first take and pass an examination testing both the individual's knowledge
regarding the line(s) of insurance the individual proposes to sell and the
individual's knowledge of the insurance statutes and regulations. The
examination must be taken and passed prior to submitting an application for a
license to the department. The lines of insurance for which an examination is
required prior to licensure are life insurance, accident and health insurance,
property insurance, casualty insurance, variable life insurance and variable
annuities, personal lines insurance, crop insurance, title insurance, and
prepaid legal services.
(B) The
department contracts with an independent testing service, which administers the
examinations referred to in subsection (3)(A). In order to take an examination,
an individual must register and pay the appropriate fee to the independent
testing service designated by the department. Instructions may be obtained from
the independent testing service or the department.
(C) Once an individual has passed an
examination, the applicant has one (1) year from the date of the examination in
which to submit an application for licensure to the department. Failure to
submit an application within this time period will necessitate the individual
taking and passing the examination again before the applicant may be
licensed.
(4) Other Lines of Insurance Authority. In addition to the lines of authority authorized by section 375.018, RSMo, producers may be granted licensure in the following lines of insurance pursuant to the authority granted in section 375.018.1(8), RSMo:
(A) Title Insurance. Pursuant to section
381.115,
RSMo and
20 CSR
700-8.100, title agents may be licensed as individual
insurance producers and title agencies may be licensed as business entity
producers.
(B) Travel Insurance. An
application for license to sell travel insurance shall comply with the
requirements of section (2) of this rule.
(C) Crop Insurance. An application for
license to sell crop insurance pursuant to section 375.018.2, RSMo shall comply
with the requirements of section (2) of this rule.
(D) Prepaid Legal. An application for license
to sell prepaid legal service plans pursuant to section
379.901,
RSMo shall comply with the requirements of section (2) of this rule.
(5) Individuals applying for a nonresident producer license who have not been licensed in their home state for the same line(s) of authority as applying for in this state shall take and pass the appropriate Missouri-specific examination(s), if applicable, for licensure in those lines before a license may be granted.
*Original authority: 374.045, RSMo 1967, amended 1993, 1995.
Disclaimer: These regulations may not be the most recent version. Missouri may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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