What is the administrative fee required to notify the Commissioner of a change of legal name or address?

The administrative fee required to notify the Commissioner of a change of legal name or address is set at $50. This fee is established to cover the administrative costs associated with processing the update to the official records. It is essential for licensees to ensure that their contact information remains accurate and current, as this facilitates communication with the insurance department and ensures compliance with regulatory requirements.

Maintaining correct records is vital for the integrity of the insurance industry, as outdated information can lead to complications in licensing and regulatory compliance. By imposing this fee, the state also underscores the importance of keeping the Commissioner informed of any significant changes that could affect regulatory oversight.