"Foreign Agent" permit. Is it by the rules ?

[XECLUDED]

I have a couple of friends who want to work for me from their home in NewYork and do the cold calling and quoting for my customers in texas. Clients still come to the office to conduct transaction and receive services locally in Texas.

My reps friends are fully license to sell. Will I run into problems with compliance. Do i need to apply for "foreign agent" permitt. I would think not since the transaction are conduct locally. Please give me some suggestion. Thanks.

 

[djs]

Re: Is It Compliance to

Cold calling is not a problem.
Quoting requires a license, it is part of the transaction.

If in doubt, call the DOI and ask.

Dan

 

[XECLUDED]

My reps friends are fully license to sell. .

As stated, both of my friends have P&C, and Life licenses.

 

[djs]

Are they licensed in the state you are selling in?
They need to be licensed for where they are selling, not where they physically are, normally. This is somewhat common sense, being licensed in New York doesn't help answer Texas questions. Now, don't harp on me about whether being licensed helps answer questions.... I understand the irony of my statement!!!!

Again, these rules vary a bit by state, you should call your DOI and ask.

Dan

 

[XECLUDED]

Yes, their licenses are for Texas as they currently working for my brother and will be moving to NewYork in a couple months. Sorry for the newbie question. I am very new to this.

 

[djs]

They will have to convert their license when they move out of state, from resident to non-resident, but should be good to go.

That said, I don't know much about TX insurance specifics, still recommend you call the DOI to get clarification and confirmation.

Dan

 

[XECLUDED]

"They will have to convert their license when they move out of state, from resident to non-resident, but should be good to go."

Got you. I just want to make sure it is "do-able" first before i talk to the DOI. Thanks

 

[BTFuzz]

"They will have to convert their license when they move out of state, from resident to non-resident, but should be good to go."

Got you. I just want to make sure it is "do-able" first before i talk to the DOI. Thanks[/QUO

Absolutely doable.

 

[Todd King]

They will have to get their NY license, but that shouldn't be hard. They may find it easier to get their NY non-res first because it might just be easier to convert the NY non-res to a NY resident license. You'll have to check on this though.

 

[XECLUDED]

Will do. Thank you all for your help.