{"id":13229,"date":"2022-11-23T21:56:00","date_gmt":"2022-11-24T02:56:00","guid":{"rendered":"https:\/\/www.resourcepro.com\/director-officer-updates\/"},"modified":"2025-11-05T11:26:49","modified_gmt":"2025-11-05T16:26:49","slug":"director-officer-updates","status":"publish","type":"post","link":"https:\/\/www.resourcepro.com\/blog\/director-officer-updates\/","title":{"rendered":"Director &amp; Officer Updates"},"content":{"rendered":"\r\n<p><em>Elaine is a Senior Specialist at ReSource Pro Compliance<\/em><\/p>\r\n\r\n\r\n\r\n<p>Slightly more than half of state insurance departments require licensed insurance agencies to provide a list of the names and contact information of their top leadership. This list allows the DOI to easily contact a person in authority at the agency to answer inquiries or complaints made by the public. Of course, such information can change over time. That\u2019s when agencies need to submit a Director &amp; Officer Update.<\/p>\r\n\r\n\r\n\r\n<h2 class=\"wp-block-heading\" id=\"h-who-to-list\">Who to List<\/h2>\r\n\r\n\r\n\r\n<p>Although commonly referred to as a Director &amp; Officer Update (or D&amp;O, for short), other legal structures need to provide similar information. Generally, regulators want the information for the following persons:<\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>Corporations \u2013 President, Vice-President(s), Secretary, Treasurer, Director(s), Owners(s)<\/li>\r\n\r\n\r\n\r\n<li>LLCs \u2013 Member(s), Manager(s)<\/li>\r\n\r\n\r\n\r\n<li>Limited Partnership (LP) \u2013 General Partners<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p>Some jurisdictions require licensees to list all owners; while others only include those with a certain percentage of ownership, for example, 10% or more.<\/p>\r\n\r\n\r\n\r\n<h2 class=\"wp-block-heading\" id=\"h-what-information-to-provide\">What Information to Provide<\/h2>\r\n\r\n\r\n\r\n<p>In addition to identifying itself, the business entity needs to provide some or all the following information about its leaders and owners:<\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>First name, middle initial, and last name<\/li>\r\n\r\n\r\n\r\n<li>Title<\/li>\r\n\r\n\r\n\r\n<li>Date of birth<\/li>\r\n\r\n\r\n\r\n<li>Social Security Number (SSN) or National Producer Number (NPN)<\/li>\r\n\r\n\r\n\r\n<li>State license number<\/li>\r\n\r\n\r\n\r\n<li>Percentage of ownership<\/li>\r\n\r\n\r\n\r\n<li>Business Address<\/li>\r\n\r\n\r\n\r\n<li>Business telephone and fax number<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p>If the owner or officer is another entity, provide the true legal name of the entity and its Federal Employer Identification Number (FEIN) instead. Check with the specific insurance department to see exactly what information they require.<\/p>\r\n\r\n\r\n\r\n<h3 class=\"wp-block-heading\" id=\"h-additional-requirements\">Additional Requirements<\/h3>\r\n\r\n\r\n\r\n<p>Some state-specific forms also include a list of questions that identify any past regulatory or criminal history. It\u2019s important to understand that anyone with such a history needs to disclose it, even if they believe the charge has been expunged from their record. Individuals who answer \u201cyes\u201d then need to provide a written explanation of the circumstances and any legal documents associated with it.<\/p>\r\n\r\n\r\n\r\n<p>Additionally, some states\u2014Texas, for example\u2014require listed individuals to maintain fingerprints on file. In Florida, any individual not currently licensed must submit prints. (Individuals must submit their fingerprints as part of the initial licensing process. Even then, however, if more than 4 years have elapsed since the fingerprints were submitted, they must be provided anew.)<\/p>\r\n\r\n\r\n\r\n<h2 class=\"wp-block-heading\" id=\"h-when-and-how-to-file-a-d-o-update\">When and How to File a D&amp;O Update<\/h2>\r\n\r\n\r\n\r\n<p>Licensees typically have 30 days from the date the change takes effect to update the information on file. Depending on the state, licensees may need to:<\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>Email a current D&amp;O list to the DOI\u00a0<strong><em>or<\/em><\/strong><\/li>\r\n\r\n\r\n\r\n<li>Complete a state-specific form and submit it to the DOI, usually via email\u00a0<strong><em>or<\/em><\/strong><\/li>\r\n\r\n\r\n\r\n<li>Update information online through DOI\u2019s website.<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p>If a state-specific form does not provide enough space for all the individuals or entities that an agency needs to report, filers may attach an additional typewritten list.<\/p>\r\n\r\n\r\n\r\n<h2 class=\"wp-block-heading\" id=\"h-notifying-other-regulators\">Notifying Other Regulators<\/h2>\r\n\r\n\r\n\r\n<p>The Department of Insurance isn\u2019t the only regulator with an interest in who controls a business entity. If a business is registered as a foreign entity, it will also need to notify the Secretary of State\u2019s Office and Department of Revenue in that state about any changes in ownership or governance.<\/p>\r\n\r\n\r\n\r\n<p>Most often, agencies update their list of directors, officers, and similar leaders on their\u00a0<a href=\"https:\/\/www.ilsainc.com\/insurance-industry\/annual-return-when-and-what-to-file\/\" target=\"_blank\" rel=\"noreferrer noopener\">annual\/biennial returns<\/a>. Whether and when annual returns are due can vary based on the state and the entity\u2019s legal structure. In states that do not require such returns, the entity will need to submit an\u00a0amendment to its Certificate of Authority\u00a0instead.<\/p>\r\n\r\n\r\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\r\n\r\n\r\n<p>Find out how ReSource Pro helps insurance agencies and producers meet their licensing and compliance needs by <a href=\"https:\/\/www.resourcepro.com\/services\/compliance\/\" target=\"_blank\" rel=\"noreferrer noopener\">visiting our compliance page<\/a>.<\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>Often, agencies update their list of directors, officers, and similar leaders on their\u00a0annual\/biennial returns. Whether and when annual returns are due can vary based on the state and the entity\u2019s legal structure. In some  states, the entity will need to submit an\u00a0amendment to its Certificate of Authority\u00a0instead.<\/p>\n","protected":false},"author":64,"featured_media":13230,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"news-category":[],"insurance-segment":[27,28,62,29],"services":[352,33],"type-of-content":[38],"resource-type":[67],"class_list":["post-13229","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","insurance-segment-carrier","insurance-segment-mga-wholesale","insurance-segment-other","insurance-segment-retail","services-business-services","services-process","type-of-content-blogs","resource-type-blog"],"acf":[],"publishpress_future_action":{"enabled":false,"date":"2026-04-19 11:13:31","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/www.resourcepro.com\/wp-json\/wp\/v2\/posts\/13229","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.resourcepro.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.resourcepro.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.resourcepro.com\/wp-json\/wp\/v2\/users\/64"}],"replies":[{"embeddable":true,"href":"https:\/\/www.resourcepro.com\/wp-json\/wp\/v2\/comments?post=13229"}],"version-history":[{"count":4,"href":"https:\/\/www.resourcepro.com\/wp-json\/wp\/v2\/posts\/13229\/revisions"}],"predecessor-version":[{"id":15825,"href":"https:\/\/www.resourcepro.com\/wp-json\/wp\/v2\/posts\/13229\/revisions\/15825"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.resourcepro.com\/wp-json\/wp\/v2\/media\/13230"}],"wp:attachment":[{"href":"https:\/\/www.resourcepro.com\/wp-json\/wp\/v2\/media?parent=13229"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.resourcepro.com\/wp-json\/wp\/v2\/categories?post=13229"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.resourcepro.com\/wp-json\/wp\/v2\/tags?post=13229"},{"taxonomy":"news-category","embeddable":true,"href":"https:\/\/www.resourcepro.com\/wp-json\/wp\/v2\/news-category?post=13229"},{"taxonomy":"insurance-segment","embeddable":true,"href":"https:\/\/www.resourcepro.com\/wp-json\/wp\/v2\/insurance-segment?post=13229"},{"taxonomy":"services","embeddable":true,"href":"https:\/\/www.resourcepro.com\/wp-json\/wp\/v2\/services?post=13229"},{"taxonomy":"type-of-content","embeddable":true,"href":"https:\/\/www.resourcepro.com\/wp-json\/wp\/v2\/type-of-content?post=13229"},{"taxonomy":"resource-type","embeddable":true,"href":"https:\/\/www.resourcepro.com\/wp-json\/wp\/v2\/resource-type?post=13229"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}