New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter II - Agents, Brokers And Adjusters
Part 34 - Requirements Pertaining To The Location Of An Insurance Agent Or Broker At Each Place Of Insurance Business: Reporting Requirements
Section 34.2 - Appointment of a supervising person

Universal Citation: 11 NY Comp Codes Rules and Regs ยง 34.2

Current through Register Vol. 46, No. 39, September 25, 2024

(a) Each place of business established by any agent or broker in New York shall be in the charge of at least one supervising person. Only the kinds of insurance for which the supervising person is licensed may be transacted at a satellite office. Where a agent or broker maintains only one place of business, then said agent or broker, if an individual, or any sublicensee or licensed partner, as appropriate, shall be deemed to be supervising persons.

(b)

(1) An agent licensed pursuant to section 2103 (a) of the Insurance Law must appoint a supervising person who is also licensed pursuant to said section or pursuant to section 2104(b)(1)(A).

(2) An agent licensed pursuant to section 2103 (b) of the Insurance Law must appoint a supervising person who is also licensed pursuant to said section or licensed pursuant to section 2104(b)(1)(B).

(3) A broker licensed pursuant to section 2104 (b)(1)(A) of the Insurance Law must appoint a supervising person who is also licensed pursuant to said section or licensed pursuant to section 2103(a).

(4) A broker licensed pursuant to section 2104 (b)(1)(B) of the Insurance Law must appoint a supervising person who is licensed pursuant to said section for the same kinds of insurance or pursuant to section 2103(b).

(c) A supervising person may not be responsible for more than one place of business of the same agent and broker or any other agent or broker at any one time except as specified in subdivision (e) of this section.

(d) At least one supervising person must be present in the satellite office for which the supervising person is responsible during all or a substantial part of its business hours each day.

(e) A supervising person may be responsible for more than one place of business if, at any one time, only one place of business of the locations for which said supervising person is responsible is open to the public. In such instance, where a satellite office is maintained as an adjunct to another type of business, said satellite office must be open to the public for the same hours as the other business.

(f) At any one place of business, or subject to the exception in subdivision (e) of this section a supervising person may be responsible for more than one agent or broker.

(g) No insurance business other than the kind or kinds the agent or broker is authorized to transact may be transacted at any headquarters or satellite office.

(h) Subdivisions (c), (d), and (e) of this section shall not apply to a title insurance agent who is a licensed attorney or that is a law firm who or that transacts title insurance business from the title insurance agent's law office.

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