§ 37.37. Corporation or partnership certificate/license.
(a) A separate certificate or license shall be required for each corporation or partnership which has a separate Federal tax identification number and engages in the business of insurance in this Commonwealth.
(b) A certificate or license for a partnership or corporation will not be issued unless all partners or officers are included on the application and all lines of authority of the partnership or corporation are also reflected on the certificates or licenses of the qualifying active partners or qualifying active officers thereof.
(c) The term ‘‘qualifying active’’ may not be construed to require the partner or officer to obtain a certificate or license reflecting all lines of authority held by the partnership or corporation, as long as a combination of certificates or licenses of the qualifying partners or officers include all the lines of authority held by the partnership or corporation. Partners or officers may not engage, either individually or on behalf of the partnership or corporation, in an act of an agent or broker requiring a line of authority which they do not individually hold.
(d) A person who solicits, negotiates, places risks or performs other activity of an agent for an entity, regardless of employment or official connection with a partnership or corporation, and whether acting in the name of the partnership or corporation or individually, shall be appointed individually with the entity.
(e) When an entity appoints a partnership or corporation, it shall also appoint the qualifying active partners or the partnership or the qualifying active officers of the corporation.
(f) Qualifying active partners or qualifying active officers of a partnership or corporation shall be individuals.
(g) Partnerships and corporations shall designate a qualifying active partner or qualifying active officer for all appointments for each line of authority. If a qualifying active partner or qualifying active officer certificate or license is terminated, the partnership or corporation shall designate a certified or licensed replacement within 10 days for all appointments for each line of authority affected.
Cross References This section cited in 31 Pa. Code § 37.1 (relating to definitions); 31 Pa. Code § 37.31 (relating to general application requirements); 31 Pa. Code § 37.33 (relating to agent application procedures); and 31 Pa. Code § 37.34 (relating to broker application procedures).
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