What is required for a business entity to obtain an insurance producer license?

To obtain an insurance producer license for a business entity, the correct requirement is that they must apply using the uniform business entity application. This application is specifically designed to streamline the process for business entities seeking to obtain a license to operate as insurance producers.

The use of a uniform application ensures consistency and compliance with state regulations, as it provides all necessary information that the regulating body requires to assess the eligibility of the business entity. This process allows for efficient processing and validation, ensuring that the entity meets the legal and operational standards established by the state.

Other options, such as being a non-profit organization, having a minimum duration of business operations, or submitting a feasibility study, are not prerequisites for the licensing of a business entity in this context. They do not align with the necessary steps mandated to initiate the licensing process effectively, making the use of the uniform business entity application the key step in attaining an insurance producer license.