(a) Unless denied licensure under section 776, a nonresident applicant shall receive a nonresident insurance producer license if the applicant:
(1) is currently licensed as a resident and in good standing in the applicant’s home state;
(2) is licensed in the applicant’s home state for the lines of authority requested in the Virgin Islands;
(3) has submitted or transmitted to the Commissioner the application for licensure that the applicant submitted to the applicant’s home stale, or instead of the application license in the home state a completed Uniform Application or a form prescribed by the Commissioner;
(4) has submitted the proper request for licensure and has paid the fees as prescribed by the Commissioner;
(5) is of good reputation and character, is honest and trustworthy, and is otherwise suitable to be licensed;
(6) home state awards non-resident insurance producer licenses to residents of the Virgin Islands on the same basis;
(7) a business entity applicant has designated an insurance agent licensed as an agent in the Virgin Islands responsible for the applicant’s compliance with the insurance laws of the Virgin Islands; and
(8) has submitted any other documents requested by the Commissioner.
(b) The Commissioner may verify the insurance producer’s licensing status through the producer database maintained by the NAIC, its affiliates or subsidiaries. If that information is not available on the producer database, the Commissioner may require a certification letter from the applicant’s home state.
(c) An individual or business entity seeking to renew a nonresident insurance producer license shall apply annually for a renewal of the license on or before December 31 of each year.
(d) If an individual or business entity does not apply for the renewal of the individual or business entity’s license on or before the license renewal date specified in subsection (c) or by the 15th day of January, the individual or business entity may submit a late renewal application along with all applicable fees required under this chapter.
(e) A licensee is subject to the same obligations and duties and to the Commissioner’s supervision, as if a resident in the Virgin Islands, except as to the requirement for the maintenance of an office in the Virgin Islands.
(f) A nonresident insurance producer who moves from a state or territory to another state or territory or a resident insurance producer who moves from the Virgin Islands to another state or territory shall file a change of address and provide certification from the new resident state not later than 30 days after the change of legal residence. A filing fee of $50.00 must be submitted. The filing fee may be changed by the Commissioner upon a 30-day notice in accordance with the regulations. No license application is required.
(g) Notwithstanding any other provision of this title, a person licensed as a surplus lines producer in the licensee’s home state shall receive a nonresident surplus lines producer license pursuant to subsection (a). Except as to subsection (a), nothing in this section otherwise amends or supersedes any provision of chapter 27 of this title.
(h) Notwithstanding any other provision of this title, a person licensed as a limited line credit insurance or other type of limited lines insurance producer in the licensee’s home state shall receive a nonresident limited lines insurance producer license, pursuant to subsection (a), granting the same scope of authority as granted under the license issued by the insurance producer’s home state. For the purpose of this subsection, limited lines insurance is any authority granted by the home state that restricts the authority of the license to less than the total authority prescribed in the associated major lines pursuant to section 759(a)(1) through (6).