Minnesota NRL Rules

MINNESOTA

NRL RULES

Yes	Accepts licenses for Individuals electronically
No	Accepts licenses for Business Entities electronically
Yes	Accepts Limited License Classes and Lines of Authority electronically
Yes	Applicants can add lines of authority to an existing active license electronically
No	Applicants can reinstate a license electronically

CONTACT INFORMATION

Minnesota Dept. of Commerce
Licensing Division
85-7th Place East, Suite 258
St. Paul, MN, 55101
Fax: (651) 284-4107

STATE SPECIFIC REQUIREMENTS

Applicants for Variable Annuities must obtain a NASD registration number (CRD #) that has been approved by the state of Minnesota. The CRD # that is designated for the state of Minnesota must be entered on the application. This may be different than the CRD # used by your home state for variable product licensing.

State fees will not be collected by NIPR (on behalf of MN) when a transaction is declined according to MN business rules. Transaction fees and processing fees will still apply. Violation of the following rules will result in a decline response.

Applicant must not have an inactive Non Resident license in MN.
Applicant must be 18 years old or older as determined from the applicant's Date of Birth.
Applicant applying for Variable must hold Life and Variable LOAs in resident state.
If making application to "Surplus Lines" license class, applicants must already hold Property and Casualty on MN "Producer" license.

New Technology Fee - The 2007 Legislature passed a provision that requires many applicants for licensure and current licensees to pay up to a $40.00 fee to cover the costs associated with implementing the Department's electronic licensing systems. This new legislation affects insurance producers and is added to the total cost of the license or license renewal. In return for paying the technology fee, insurance producers and their education providers will no longer have to pay on a per transaction basis to use many of the online services such as printing a license, requesting letters of certification, making address or name changes, etc.