Every business entity must select at least one principal insurance producer responsible for the business entity's compliance with the insurance laws, rules and regulations in North Dakota to act as a Designated Responsible Licensed Producer (DRLP). The individual is not required to be an officer or director of the business entity; however, he/she must be licensed as an insurance producer in North Dakota.
Every DRLP does not need to have all of the lines of authority that are on the business entity license; however, the business entity cannot hold a line of authority unless at least one of its DRLPs has the line on their North Dakota license.
Every business entity must notify the North Dakota Insurance Department in writing of any change in their DRLPs using the Request to Change the Designated Responsible Licensed Producer (SFN 60801) form. The form can be faxed, mailed or emailed to the Department. There is no fee to make changes.
North Dakota law does not require business entities to notify the Department of every individual employed or affiliated with the agency.