Uniform Reciprocal Licensing Act

Definition of "Uniform reciprocal licensing act"

Gary & Kay Gilpin
Gary & Kay Gilpin Great Southern Real Estate

Law by which many states attempt to regulate insurers who are unlicensed in those states. With a few notable exceptions, such as re insurers, insurance companies must be licensed in the states where they do business. If a U.S. insurer sells insurance in a state where it is unauthorized, the insurer's home state may revoke its license under the Uniform Reciprocal Licensing Act.

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