Changes of name, residency, or address.

A licensee shall inform the Commissioner of a change of the licensee’s residential or business address within 30 days of the change of address. A nonresident insurance producer who moves from one state to another state or a resident insurance producer who moves from the District to another state shall file a change of address and provide certification from the new resident state within 30 days after the change of residence. No fee or license application shall be required. A licensee shall inform the Commissioner of a change of the licensee’s legal or corporate name within 30 days after the change of name. Failure to timely inform the Commissioner of a change in legal name or address shall result in a penalty as prescribed by the Commissioner. A person licensed as an insurance producer in another state who moves to the District shall make application within 90 days of establishing legal residence to become a resident licensee under § 31-1131.06 unless the person maintains his principal place of business in another state and the person has a resident insurance producer license in that state.