It is very important that you send the correct license related fees with your license application.
FEES FOR RENEWING EXISTING LICENSE AUTHORITY
The license renewal fee is stated on the renewal form. Regardless of when you send your application, if your renewal application is not received by the Department on or before the expiration date of your license, your renewal application must be accompanied by the renewal license fee plus an additional $100.00 for the late renewal fee required by A.R.S. 20314. Arizona law provides no exceptions to this requirement. You are solely responsible for ensuring that the Department receives your application prior to the expiration of your license.
INFORMATION PERTAINING TO NEW LICENSES AND ADDING ADDITIONAL LINES/KINDS OF AUTHORITY FOR EXISTING LICENSES
- Expiration Dates.
- If you do not presently hold an Arizona insurance license, your license will expire two years after the last day of the month in which the license is issued. For example, if you apply for a license in February 1999 and your license is granted in March 1999, you will be issued a license with an expiration of March 31, 2001.
- If you presently hold an Arizona insurance license and an additional license authority is granted, your additional license authority will expire on the same date as the license authority you have already held (regardless of when you apply for the additional license authority).
- License Fees.
- The license fee for a surplus lines broker authority or a Mexican insurance surplus lines broker authority is $450.00 through June 30, 2000. The fee effective July 1, 2000, shall be $500.00.
- The license fee for all other license authority is $45.00 through June 30, 2000. The fee effective July 1, 2000, shall be $50.00
WHEN ADDING LICENSE AUTHORITY TO AN EXISTING LICENSE, only half the license fee must be submitted when the term of the license authority will be one year or less. To determine whether you need to submit a full fee or half fee, look at the expiration date on your license.
- If the date the Department will receive your application is one year or greater from the expiration date on your license, the full fee is required.
- If the date the Department will receive your application is less than one year from the expiration of your license, only half the license fee is required.
- Fingerprint Cards and Fees. If you are a resident of Arizona, you must submit a blueoutlined, mattefinish fingerprint card (Form FD258) completed in black ink (*see EXCEPTION below).
A $24.00 fingerprint cardprocessing fee must accompany each fingerprint card.
EXCEPTION: If you are adding additional license authority to an Arizona insurance license that is still active, you do not need to submit another fingerprint card or pay the fingerprint card processing fee if you previously submitted a fingerprint card within one year.
- If Pat were not presently licensed in Arizona and was applying for surplus lines broker license authority, property & casualty agent license authority, life agent authority and disability agent authority in May 2000, Pat would submit a surplus lines broker license application and an Arizona insurance license application. Pat would pay the $450.00 fee for the surplus lines broker authority and one $45.00 fee for the other license authority (because the Department would receive the application prior to July 1, 2000). Pat would submit one fingerprint card (not two) and would pay one $24.00 fingerprint cardprocessing fee. Therefore, the total amount Pat would pay would be $519.00 ($450.00+45.00+24.00). Pat`s license would expire May 31, 2002 .
- If Pat held a life agent license which expires in September 2000 and in August 2000 applied for Variable Contracts Agent authority, Pat would have to pay $25.00 (half the license fee effective July 1, 2000). If Pat had not submitted a fingerprint card and fingerprint cardprocessing fee to the Insurance Licensing Section within one year, Pat would need to submit these with the application.
If you have any doubt as to what fee you need to pay, call the Insurance Licensing Section at (602) 9128470 or (877) 6600964 when calling within Arizona but outside the Phoenix Area.
Speak to an Experienced Insurance Attorney Today
This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified insurance lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local insurance attorney to discuss your specific legal situation.
Your Next Step:
Enter your location below to get connected with a qualified Insurance attorney today.
Popular Attorney Searches: