The term “business entity” means a corporation, association, partnership, limited liability company, limited liability partnership, or other legal entity.
The term “depository institution” has the meaning as in section 1813 of title 12.
The term “home State” means the State in which the insurance producer maintains its principal place of residence or business and is licensed to act as an insurance producer.
The term “insurance producer” means any insurance agent or broker, excess or surplus lines broker or agent, insurance consultant, limited insurance representative, and any other individual or entity that sells, solicits, or negotiates policies of insurance or offers advice, counsel, opinions or services related to insurance.
The term “principal place of business” means the State in which an insurance producer maintains the headquarters of the insurance producer and, in the case of a business entity, where high-level officers of the entity direct, control, and coordinate the business activities of the business entity.
The term “principal place of residence” means the State in which an insurance producer resides for the greatest number of days during a calendar year.