Resident Business Entity Requirements
All Business Entities:
“Business entity” refers to a corporation, limited liability company, limited liability partnership and associations or other legal forms of organization. A business entity that is required to be licensed in this state, that transacts insurance without a license, is subject to an administrative fine of not more than $1,000 per act or violation.
Resident business entities applying for a producer license must apply electronically through Sircon’s Compliance Express at or through the National Insurance Producer Registry. Electronic transaction fees apply. Effective July 1, 2015, licensing fee will be reduced to $185, plus online processing fees. Those applicants applying through Sircon may print their license online for free for up to 30 days after the license is issued.
Applicants must contact the Division of Insurance (Division) for a verbal name approval prior to completing any articles of incorporation, articles of organization or amendments with the Secretary of State’s (SOS) office, or prior to filing any DBA/Fictitious Firm Name filings with the appropriate Nevada County Clerk’s office.
Division Phone: (775) 687-0700
Division General E-mail
Corporations, Limited Liability Companies, Limited Liability Partnerships and Associations, etc.:
Contact the Nevada Secretary of State (SOS) to obtain forms, instructions and applicable fees.
SOS Phone: (775) 684-5708
Articles of Incorporation (Articles) Purpose Clause:
Business entities whose purpose is to engage of the business of insurance are required to file with the SOS must include the following statement within the purpose clause of its Articles of Incorporation, “To engage in the business of insurance in all lines of authority permitted under the license issued in compliance with Nevada revised statutes (NRS) and Nevada Administrative codes (NAC).” The articles or amendment must be forwarded to the Division of Insurance prior to being filed with the Secretary of State.
Upon the Division’s approval of the Articles or amendment, the Division will return its approval to the entity for filing with the SOS. When the SOS completes its review and approval process, the business entity will be required to furnish a filed copy of the approved Articles or amendment.
Sole proprietors must file a DBA/Fictitious Firm Name with each county clerk’s office where they intend to conduct business. A copy of the filing must be provided to the Division along with the licensing application. Contact the appropriate County Clerk’s office for filing instructions. Refer to Chapter 602 of NRS for information on doing business under an assumed or fictitious name.
Resident and nonresident individuals who are not currently licensed in Nevada must apply for a producer license electronically through Sircon’s Compliance Express or through the National Insurance Producer Registry. The licensing fee is $235 plus online processing fees. ($185 plus $50 for the agency affiliation). Refer to Exam and Licensing Procedures for specific licensing instructions.
You may create and later maintain one or more individual associations online utilizing the Division’s Licensing Portal - Sircon. Provided the entity and the DRP are both currently licensed in Nevada, the association fee is $50 plus online processing fees.
A producer contracted with an insurer must be appointed within 15 days after the contract is executed or within 15 days of the license being issued by the Division. The date of issuance will be available on the NAIC Producer Database. The appointment must include the lines of authority under which the license is issued. The Division will accept electronic or paper appointments. The appointment fee is $15 and renews annually on July 1.