§ 23-74-609 — Licensing of agents

(a) Agents of societies shall be licensed in accordance with the provisions of the laws regulating the licensing, revocation, suspension, or termination of license of resident and nonresident agents, provided that: (1) No examination shall be required to maintain or renew a license for agents of societies who held a license on December 31, 1989; and (2) No examination shall be required to obtain a license or to renew a license thereby obtained for agents of societies applying for license on or after January 1, 1990, and before July 1, 1991. (b) No examination or license shall be required of any regular salaried officer, employee, or member of a licensed society who devotes substantially all of his or her services to activities other than the solicitation of fraternal insurance contracts from the public, and who receives for the solicitation of such contracts no commission or other compensation directly dependent upon the amount of business obtained. (c) No examination or license shall be required of any agent or representative of a society who devotes, or intends to devote, less than fifty percent (50%) of his or her time to solicitation and procurement of insurance contracts for the society, except that any person who in the immediately preceding calendar year solicited and procured life insurance contracts on behalf of any society in an amount of insurance in excess of fifty thousand dollars ($50,000), or, in the case of any other kinds of insurance which the society writes, on the persons of more than twenty-five (25) individuals and who received or will receive a commission or other compensation therefor, is presumed to be devoting or intending to devote fifty percent (50%) of his or her time to the solicitation or procurement of insurance contracts for the society.

Legislative History

Acts 1989, No. 881, § 1; 1991, No. 337, § 1.