Obama Signs Broker Licensing Bill

[bluediamond]

Broker licensing bill signed into law | BenefitsPro

Can anyone explain to me why this matters since you can obtain a non-resident license in other states?

 

[leevena]

Broker licensing bill signed into law | BenefitsPro

Can anyone explain to me why this matters since you can obtain a non-resident license in other states?

the answer is in the article. I pasted it for you below.

The legislation would set the stage for killing the current regulation that agent and client must live in the same state to do business together.

 

[unic.consulting]

Well, for instance, I'm licensed in Massachusetts, New Hampshire, and Maine. If I get a referral for someone who lives in Connecticut, I either have to spend money to get licensed there for one client and no guarantee of anything after that, or refuse the referral.

 

[sman]

I particularly liked this sentence:

Last summer, the House pushed a bill through in December...

Last I checked, December isn't part of the summer here in the U.S.

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the answer is in the article. I pasted it for you below.

The legislation would set the stage for killing the current regulation that agent and client must live in the same state to do business together.

I do business with clients in several states and I only live in one of those. It's called non-resident licensing. There is nothing which currently prohibits me from doing business with people who don't live in my state.

Unless this law does away with the need to get a non-resident license, I see no benefit.

 

[axeman462]

Broker licensing bill signed into law | BenefitsPro

Can anyone explain to me why this matters since you can obtain a non-resident license in other states?

not entirely sure what the terrorism insurance part of it is, but the NARAB is supposed to make it easier to get non-resident licenses

 

[bluediamond]

I particularly liked this sentence:

Last summer, the House pushed a bill through in December...

Last I checked, December isn't part of the summer here in the U.S.

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I do business with clients in several states and I only live in one of those. It's called non-resident licensing. There is nothing which currently prohibits me from doing business with people who don't live in my state.

Unless this law does away with the need to get a non-resident license, I see no benefit.

That's exactly what I mean. Now if it does away with the non resident then it's great, but if not I see no difference now.

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not entirely sure what the terrorism insurance part of it is, but the NARAB is supposed to make it easier to get non-resident licenses

I read that part, but how long does it really take to get a non resident license in another state?

 

[axeman462]

That's exactly what I mean. Now if it does away with the non resident then it's great, but if not I see no difference now.

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I read that part, but how long does it really take to get a non resident license in another state?

Not sure, I'm only licensed in FL

 

[YouGotMyMoney]

I read that part, but how long does it really take to get a non resident license in another state?

a couple mouse clicks..

 

[sman]

Not sure, I'm only licensed in FL

It doesn't take long at all. A few clicks of a mouse and a payment of the fee and you're good to go. I think a non-resident in Florida takes a little longer. I recall having to get a finger print card completed and sent in. So that took a little longer than the other states in which I have a non-resident license.

 

[plewi003]

FL requires finger prints for non resident.. Also when has anything that Obama signed been good for businesses anyway?