How long does an agent have to notify the department of changes in contact information?

Section 1238(1) of the Michigan Insurance Code, MCL 500.1238(1), requires any agent, agency, solicitor, counselor, or adjuster to notify the Director of any change in his or her mailing and electronic mail address within 30 days after the change.

A new license is automatically sent to the licensee or agency when a Mailing Address change is processed.

Individual Licensees

• All individual licensees must use the Contact Change Request (CCR) page on the NIPR website.  Click on the “Change” button to access the CCR page.
• Licensure information must be displayed on the NAIC PDB in order to use the CCR.
• Licensees must use their National Producer Number (NPN) or their Social Security Number (SSN) to utilize the CCR.  Michigan licensees cannot use their Michigan System ID Number to access the CCR.
• Non-resident licensee addresses on record for Michigan must be the same as the addresses in the licensee’s home-state as reflected in the NAIC PDB.
• All non-resident adjusters must have only one home state license to use CCR.
• Individual licensees must have a residence address that is a physical address. PO boxes are allowed for business and mailing addresses.
• Individual licensees can update their mailing, business, and residence addresses, email addresses, and/or telephone numbers using the CCR.
• Address changes will automatically be edited using USPS terminology, and will be verified with the USPS database of accepted addresses.
• Currently, CCR does not allow adding or editing Canadian addresses.

Business Entities (Agencies)

Effective December 1, 2016, business entities (agencies) must use the DIFS Insurance Licensing Online Services (ILOS) web page to update agency information, including

• Agency name
• Assumed Names/dba’s
• DRLP and Affiliate information
• Branch Office Registration
• Mailing and business addresses
• Phone and fax numbers
• Email address for agency contact person
• Website address

• For New Estate Agents
• Licensing Criteria for New Estate Agents
• Licence & Registration Fees
• Processing Your Application
• Duty to Notify CEA of Changes to Information Submitted in any Application or Form

A) For New Estate Agents

Any entity that conducts estate agency work, be it through a RES or a digital platform, is required to apply for an estate agent (EA) licence. The application for a licence shall be submitted by the Key Executive Officer (KEO)-applicant. The KEO is the person who will be responsible for the proper administration and overall management of the business of the EA and the supervision of its salespersons. The KEO-applicant will have to log into CEA’s e-services to complete the application form and submit it to CEA. Please refer to the image below for an illustration of the workflow and process.

B) Licensing Criteria for New Estate Agents

The licensing criteria for a new estate agent are as follows:

1. The estate agent must be a registered entity with ACRA
2. The estate agent must have a Key Executive Officer (KEO) who satisfies the requirements of the Estate Agents Act and Regulations
3. The estate agent must not hold a moneylender's licence
4. None of the estate agent's directors or partners or sole-proprietor or KEO hold a moneylender's licence, or are an employee, director, or partner of a licensed moneylender
5. The estate agent is fit and proper, such as is not in liquidation or wound-up or in receivership, has not entered into a composition or scheme of arrangement with its creditors, does not have any convictions, does not have any judgment that involved a finding of fraud, dishonesty or breach of fiduciary duties entered against it in civil proceedings
6. The estate agent's KEO and all directors or partners or persons responsible for the management must fulfil the fit and proper criteria under the Estate Agents Act. 

   CEA shall determine if the person is fit and proper for registration after considering all relevant facts and matters. In the circumstances listed below, a person shall not be fit and proper for registration, unless CEA determines otherwise:

   1. Where the person has been convicted of an offence involving dishonesty or fraud, or any offence under the Estate Agents Act
   2. Where the person has had a judgment entered against him / her in civil proceedings that involve a finding of fraud, dishonesty or breach of fiduciary duties on his / her part
   3. Where the person is an undischarged bankrupt or has made a composition or arrangement with his / her creditors
   4. Where CEA takes the view that a person is not fit and proper after considering any other relevant facts or matters

   Note : The person is required to declare all prior convictions in a court of law (including a military court), in Singapore or in any other country.

   Example:  A person who was previously detained under the Misuse of Drugs Act or served with a detention / police supervision order under the Criminal Law (Temporary Provisions) Act would generally be deemed to be not fit and proper for registration, unless CEA determines otherwise after considering all facts and matters (including circumstances of the prior detention / supervision)

7. The estate agent must have a valid Professional Indemnity Insurance policy that covers the estate agent and all its salespersons. All the partners, where applicable, must also be covered by the Professional Indemnity Insurance.

The estate agent must have Standard Operating Procedures and guidelines such as for training & supervision of salespersons, complaints-handling & dispute resolution, advertising & printing of publicity materials, protection of confidentiality of clients' information and service standards for its operations.

The appointed KEO of the estate agent must:

1. Have a minimum of 4 GCE 'O' Levels passes or equivalent
2. Possess a pass in the Real Estate Agency (REA) examination in the 2 years immediately before the application for a licence, or equivalent
3. Be a sole-proprietor, director or partner of the estate agent
4. Have at least 3 years’ experience in estate agency work (e.g. applicant has held a salesperson registration for at least 3 years, or has been a KEO, practising director or practising partner for at least 3 years).
5. Have concluded at least 30 transactions in the last 3 years as or on behalf of a licensed estate agent or have at least 3 years of experience in managing the business of a licensed estate agent as an executive director, a chief executive, key executive, key executive officer, partner or sole proprietor.
6. Not currently be a sole-proprietor, practising director or partner, KEO, or salesperson of another licensed estate agent
7. Not been previously a sole-proprietor, KEO, director or partner of an estate agent whose licence was revoked
8. Not hold a moneylender's licence and is not an employee, director, or partner of a licensed moneylender
9. Not be in arrears with the Central Provident Fund (CPF) Board for Medisave contribution. This also applies to directors and partners of the estate agent. Please click here to check if you have Medisave liabilities.

The information above also applies to the practising partners in General and Limited Partnerships, and practicing directors in Companies.

For applications involving foreigners, estate agents should first check with CEA on the type of employment pass they should possess.

C) Licence & Registration Fees

The application fee to register a new salesperson and to renew the registration of a salesperson is $53.50 (inclusive of GST) and the annual registration fee per RES is:

The application fee for a new licence and renewal of licence is $107 per EA licence (inclusive of GST).  The annual licence fee* for EAs is shown in the tables below. 

*Note:

• EAs shall be responsible for the payment of the EA's licence fee and the registration fee of their RES, as well as the application fees for licence and registration. The application and registration fees for RESs and renewal of licence shall be paid by GIRO.
• The application fee is also payable when an EA submits an application for a RES to switch EAs (leaving/intending to leave one EA to join another).
• Invoices will be generated every Monday, Wednesday, and Friday (excluding Public Holidays or on days where there is ad-hoc system maintenance) for applications at “Pending fee payment”. GIRO deduction by the bank will take place and complete in the next two working days.

Annual Licence Fee for All Businesses and Companies (Except General Partnerships and Limited Partnerships)

 #: Half rates apply for the prescribed licence fees, for estate agent’s licence granted after 30 June and ending on 31 December of each calendar year.

Annual Licence Fee for General Partnership and Limited Partnerships

#: Half rates apply for the prescribed licence and registration fees, for estate agent’s licence and salesperson registration granted after 30 June and ending on 31 December of each calendar year.

Example 1 
An estate agent (Private Limited Company) has 40 salespersons. 
Annual licence fee                    = $1,100 
Annual registration fee              = $9,200 ($230 x 40) 
Total fee deducted from GIRO   = $10,300 (GST exempt)

Example 2 
An estate agent (General Partnership) has 4 partners of which 3 will be practising partners, and 5 salespersons. 
Annual licence fee                   = $1,020 [$330 + ($230 x 3)] 
Annual registration fee             = $1,150 ($230 x 5) 
Total fee deducted from GIRO  = $2,170 (GST exempt) 

D) Processing Your Application

CEA will need to process each application and shall revert as soon as practicable.

If the application is approved, CEA will send a notice of approval to your email address stated in the application form.

E) Duty to Notify CEA of Changes to Information Submitted in any Application or Form

Once an EA is licensed, the EA or Key Executive Officer (KEO) shall notify CEA of any change to the information contained in any application or form submitted to CEA within 7 working days after the date of the change.

The EA or KEO can notify CEA of the following changes through CEA's E-services:

1. Changes in the EA Information (e.g. change of business address or email address).
2. Changes in the KEO Information. If a vacancy occurs in the post of KEO by reason of the death, resignation or revocation of appointment of the KEO, the EA shall appoint another KEO within one month of the KEO ceasing to carry out his duties. 
3. Changes in existing practising Directors/Partners Information. If you are appointing a new practising director/partner, find out more about the criteria here. 
4. Cessation of salesperson’s authority to act for the EA, i.e. cancellation of a RES registration.