40 Pa. Stat. § 310.71

Current through Pa Acts 2024-53, 2024-56 through 2024-92
Section 310.71 - Appointments
(a) Representative of the insurer.--An insurance producer shall not act on behalf of or as a representative of the insurer unless the insurance producer is appointed by the insurer. An insurance producer not acting as a representative of an insurer is not required to be appointed.
(b) Representative of the consumer.--An insurance producer acting on behalf of or representing an insurance consumer shall execute a written agreement with the insurance consumer prior to representing or acting on their behalf that:
(1) delineates the services to be provided; and
(2) provides full and complete disclosure of the fee to be paid to the insurance producer by the insurance consumer.
(c) Notification to department.--An insurer that appoints an insurance producer shall file with the department a notice of appointment. The notice shall state for which companies within the insurer's holding company system or group the appointment is made. Upon receipt of the notice, the department shall verify if the insurance producer is eligible for appointment. If the insurance producer is determined to be ineligible for appointment, the department shall notify the insurer of the determination.
(d) Termination of appointment.--Once appointed, an insurance producer shall remain appointed by an insurer until such time as the insurer terminates the appointment in writing to the insurance producer or until the insurance producer's license is suspended, revoked or otherwise terminated.
(e) Appointment fee.--An appointment fee of $12.50 will be billed annually to the insurer for each producer appointed by the insurer during the preceding calendar year regardless of the length of time the producer held the appointment with the insurer. The appointment fee may be modified by regulation. The fee shall be paid in full within 30 days.
(f) Reporting.--An insurer shall, upon request, certify to the department the names of all licensees appointed by the insurer.

40 P.S. § 310.71

1921, May 17, P.L. 789, art. VI-A, § 671-A, added 2002, Dec. 6, P.L. 1183, No. 147, § 2, effective in 180 days.