Iowa Administrative Code › Agency 191 - Insurance Division › Insurance Producers › Chapter 10 - Insurance Producer Licenses and Limited Licenses › Rule 191-10.51 - Limited Licenses

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Limited
				licenses for vehicle rental companies and counter employees.
a.
Purpose.
The purpose of
				this subrule is to govern the qualifications of and procedures for the
				licensing of vehicle rental companies and counter employees and to set out the
				requirements, procedures and fees relating to the qualification and licensure
				of vehicle rental companies and counter employees.
b.
Definitions.
For purposes
				of this subrule, in addition to the definitions in rule
				191-1.1 (502,505), the
				definitions of Iowa Code chapter 522A apply.
c.
Requirement to hold a
				license.
(1) A rental company that
				desires to offer or sell insurance set forth in Iowa Code section
				522A.3 in
				connection with the rental of a vehicle must file a vehicle rental limited
				license application with the division and, at the discretion of the division,
				receive a vehicle rental limited license.
(2) A counter employee who desires to offer
				or sell insurance products must file a vehicle rental counter employee limited
				license application with the division and, at the discretion of the division,
				receive a vehicle rental counter employee limited license.
d.
Limited license application
				process for vehicle rental company.
(1) To obtain a limited license, a vehicle
				rental company must file a completed vehicle rental limited license application
				with the division and pay a fee of $50 for a license. The vehicle rental
				limited license application form is available on the division's
				website.
(2) If the vehicle rental
				limited license application is approved, the division must issue a vehicle
				rental limited license. The vehicle rental limited license term is from the
				date of approval through the third December 31 after the vehicle rental limited
				license is issued.
e.
Limited license application process for counter employees.
(1) An individual may not obtain a vehicle
				rental counter employee limited license unless that individual is employed by a
				vehicle rental limited licensee.
(2) To obtain a vehicle rental counter
				employee limited license, an individual must successfully complete an
				examination and submit to the division a completed vehicle rental counter
				employee limited license application, pursuant to Iowa Code section
				522A.3. The
				vehicle rental counter employee limited license application form is available
				on the division's website.
(3) If
				the application is approved, the division must issue a vehicle rental counter
				employee limited license. Vehicle rental counter employee limited license
				applications will be deemed approved if not disapproved by the division within
				30 days of receipt by the division. The vehicle rental counter employee limited
				license term is from the date of approval through the third December 31 after
				the license is issued.
(4) The
				vehicle rental counter employee limited license will automatically terminate:
1. When the counter employee ceases
				employment with a vehicle rental limited licensee; or
2. At the end of the term of the vehicle
				rental counter employee limited license term if the license is not renewed
				pursuant to this subrule.
f.
Duties of vehicle rental limited
				licensees.
(1) Pursuant to Iowa Code
				section
				522A.3, a
				vehicle rental limited licensee is responsible for the training, examination
				and payment of license fees for all individuals it employs for whom the
				licensee desires to obtain vehicle rental counter employee limited
				licenses.
(2) A vehicle rental
				limited licensee must obtain and administer an examination for all vehicle
				rental counter employee limited license candidates. The content of the
				examination and the manner of its administration must be approved by the
				division.
(3) The vehicle rental
				limited licensee must develop a system for the security of examination
				content.
(4) The vehicle rental
				limited licensee must administer the vehicle rental counter employee limited
				license examination under controlled conditions, approved by the division,
				which ensure that each candidate completes the examination without outside
				assistance or interference.
(5) The
				vehicle rental limited licensee must notify the division of the termination of
				employment of any of its vehicle rental counter employee limited licensees. The
				vehicle rental limited licensee must file reports of terminations within 30
				days of termination of employment.
g.
License renewal.
(1) All vehicle rental limited licenses and
				vehicle rental counter employee limited licenses must be issued with an
				expiration date of the December 31 at the end of the license terms and must be
				renewed before the end of the license terms.
(2) Each year, the division must mail to the
				vehicle rental limited licensee's latest electronic mail or mailing address
				appearing in the division's records a renewal form for use in renewing the
				vehicle rental limited license and all of the vehicle rental counter employee
				limited licenses that will expire that year.
(3) The vehicle rental limited licensee must
				complete the renewal form for its license if applicable and for all of the
				vehicle rental counter employee limited licenses that will expire that year and
				must return the completed renewal form and applicable fee to the division on or
				before December 31 of the renewal year or all licenses listed on the renewal
				form will expire.
(4) The fee for
				renewal of a vehicle rental limited license is $50, and the fee to renew each
				vehicle rental counter employee limited license is $50.
h.
Limitation on fees.
A
				vehicle rental limited licensee is not required to pay license and renewal fees
				of more than $1,000 in aggregate in any calendar year.
i.
Change in name or
				address.
(1) Vehicle rental limited
				licensees must file written notification with the division of a change in name
				or address within 30 days of the change. This requirement applies to any change
				in any locations at which the vehicle rental limited licensee is doing
				business.
(2) Vehicle rental
				limited licensees must file written notification with the division of changes
				in names or addresses of vehicle rental counter employee limited licensees. If
				the change of name is by a court order, a copy of the order shall be included
				with the notification. The limited licensee must file reports of name and
				address changes within 30 days of the change.
j.
Violations and penalties.
(1) A rental company or counter employee who
				sells insurance in violation of this rule is in violation of Iowa Code chapter
				522A and is subject to the penalties provided in Iowa Code section
				522A.3.
(2) A vehicle rental
				limited licensee or vehicle rental counter employee limited licensee who
				commits an unfair or deceptive trade practice in violation of Iowa Code chapter
				507B, or in violation of administrative rules which implement that chapter, is
				subject to the penalties provided for in Iowa Code chapter 507B.