Agent-Licensing Model Near Approval.The National Association of Insurance Commissioners The National Association of Insurance Commissioners (NAIC) is an Internal Revenue Code Section 501(c)(3) non-profit organization which seeks to organize the regulatory and supervisory efforts of the various state insurance commissioners from around the United States. is edging closer to adopting a model law for establishing uniform licensing guidelines for agents. If a majority of states do not enact reciprocal or uniform laws, then the National Association of Registered Agents and Brokers section of S900 will take that regulatory power away from state commissioners and put it into the hands of federal regulators. During the NAIC NAIC See National Association of Investors Corporation (NAIC). Winter National meeting in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , the Agent Licensing Working Group of the Market Conduct and Consumer Affairs Subcommittee heard NAIC General Counsel Caroline Scott Caroline Scott is an American actress and pop singer, best known as a member of the band Slumber Party Girls. She was raised in West Memphis, Arkansas. Caroline began taking dance lessons when she was three years old and performed in her first theater production when she was explain two avenues that states could take to avoid NARAB's enactment. States can develop laws that are reciprocal or uniform, Scott said. While the two concepts appear to be the same, she said they are distinct under NARAB NARAB National Association of Registered Agents and Brokers (Insurance) , and states are required to do one or the other. With Scott's urging, the working group recommended reciprocity, rather than uniformity, for the commissioners to pursue as they develop the Producer License Model Act because the NAIC model law is closer to being complete through reciprocity than through uniformity. With reciprocity, there are three provisions. "If you're licensed and in good standing in your home state, then you can get a license in another state," Scott said. Reciprocity with continuing education continuing education: see adult education. continuing education or adult education Any form of learning provided for adults. In the U.S. the University of Wisconsin was the first academic institution to offer such programs (1904). and the elimination of nonresident limitations are the other two. A group of state commissioners agreed to recommend reciprocity because it was quicker, even if they had reservations. |
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