Managing General Agent Organization Licensing Forms & Fees
EFFECTIVE JULY 1, 2009
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.
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: firstname.lastname@example.org
Corporations, Limited Liability Companies, Limited Liability Partnerships and Associations, etc.:
Articles of Incorporation (Articles) Purpose Clause:
Business entities whose purpose is to engage in the business of insurance are required to file with the SOS and must include the following statement within the purpose clause of the entity’s 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 prior to being filed with the SOS by either of the following methods:
- Mail the Articles or amendment to the Division’s address with the fee for the SOS in a separate sealed envelope labeled “Secretary of State” or “SOS.”
- Fax the Articles or amendment to the Division’s office. Upon approval of the Articles or amendment, the Division will fax the information to the fax number provided by the applicant for filing with the SOS. The Division’s fax number is (775) 687-0787.
Upon the Division’s approval of the Articles or amendment, the Division will forward its approval to the SOS for its consideration. 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-Proprietorships: 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.
MANAGING GENERAL AGENT CHECKLIST
All applications for a general agent license must be received by the Division in a classification folder, legal size, two dividers with plain (self) tabs. Smead no.: C502-5A-2D or something similar, provided it has six brads for attaching the items required in each section. If you do not bind and tab your application as indicated, the application will be returned to you without being reviewed.
Fees effective July 1, 2009:
The licensing fee is $185. Fees are payable by check or money order to the Nevada Division of Insurance, and are nonrefundable.
Articles/Amendments, DBA/Fictitious Firm Name Filings:
The applicant must provide a filed copy of the Articles of Incorporation, Articles of Organization and any Amendment to be filed with the Nevada Secretary of State. Sole-Proprietors must attach a copy of the Fictitious Firm Name filing form that is filed with the County Clerk’s office.
Resident individuals who are not currently licensed in Nevada as a managing general agent must submit the Uniform Application for Individual Insurance Producer License application, Form 327: The licensing fee is $245 ($185 plus $60 for the agency affiliation). Resident individual licensing requirements can be found at Form 301.
Fingerprints are required. Refer to Form 324 for the fingerprint requirements.
Nonresident individuals who are not currently licensed in Nevada as a managing general agent must submit the Uniform Application for Individual Insurance Producer License, Form 327.The licensing fee is $245 ($185 plus $60 for the agency affiliation).
Appointment Requirements: A managing general agent must be contracted with an insurer. The appointment must accompany the license application.