§ 22:1547 — License

Louisiana § 22:1547

• Jurisdiction: Louisiana
• Title 22: Insurance

Text

§1547. License
A. Unless denied licensure pursuant to R.S. 22:1554, persons who have met the
requirements of this Subpart shall be issued an insurance producer license. An insurance
producer may receive qualification for a license in one or more of the following lines of
authority:
(1) Life, which provides insurance coverage on human lives including benefits of
endowment and annuities, and may include benefits in the event of death or dismemberment
by accident and benefits for disability income.
(2) Accident and health or sickness, which provides insurance coverage for sickness,
bodily injury, or accidental death, and may include benefits for disability income.
(3) Variable life and variable annuity.
(4) Property, which provides insurance coverage for the direct or consequential loss
or damage to property of every kind.
(5) Casualty, which provides insurance coverage against legal liability, including that
for death, injury or disability, or damage to real or personal property.
(6) Personal lines, which provides property and casualty insurance coverage to
individuals and families for primarily noncommercial purposes.
(7) Title.
(8) Credit which includes credit life, credit disability, credit property, credit
unemployment, involuntary unemployment, mortgage life, mortgage guaranty, mortgage
disability, guaranteed automobile protection insurance, or any other form of insurance
offered in connection with an extension of credit to partially or wholly extinguish that credit
obligation and that is designated by the insurer as limited line credit insurance. The amount
of credit insurance issued pursuant to a credit transaction shall not exceed the total sum
payable under the contract including all loan finance and credit service charges.
(9) Travel insurance as defined in R.S. 22:1782.1(3).
(10) Limited life, health and accident, which provides insurance coverage pursuant
to R.S. 22:142. A license for limited life may allow the producer to sell life insurance in an
amount not to exceed thirty thousand dollars when appointed by an insurer which meets the
minimum financial requirements of, and is licensed pursuant to, R.S. 22:82(A)(1) or
112(A)(1), and when such policies are issued by such insurer.
(11) Industrial fire.
(12) Surety which provides insurance or bond that covers obligations to pay debts
of, or answer for the default of another, including faithlessness in a position of public or
private trust. For purpose of limited line licensing, surety does not include surety bail bonds.
(13) Bail bonds.
(14) Surplus lines, subject to the requirements of Subsection I of this Section.
(15) Any other line of insurance permitted under state laws or regulations.
B. Subject to the requirements of Subsection C of this Section, an insurance producer
license shall remain in effect, unless revoked, suspended, or denied renewal or reinstatement,
as long as all applicable fees are paid and education requirements are satisfied, until the
license expires or is surrendered by the holder thereof.
C.(1) Every licensed producer shall file an application for renewal of his license
every two years, by notifying the commissioner of insurance, by methods prescribed by the
commissioner, of the licensee's intention to continue his license as either producer, limited
lines producer, or surplus lines producer.
(2) Any licensee who fails to file timely for license renewal shall be charged a late
fee as authorized by R.S. 22:821.
(3) Prior to the filing date for application for renewal of a license, the licensee shall
comply with continuing education requirements in R.S. 22:1573 for the lines of insurance
being renewed. Such producer shall file with the commissioner of insurance, by a method
prescribed by the commissioner, satisfactory certification of completion of the continuing
education requirements. Any failure to fulfill the continuing education requirements shall
result in the expiration of the license. Nothing in this Subsection shall authorize the
administration or management, under contract or otherwise, of the continuing education
program except by the employees of the department.
D. An insurance producer who allows his license to lapse may, within two years from
the expiration date of the license, reinstate the same license upon proof of fulfilling all
continuing education requirements through the date of reinstatement and upon payment of
all fees due. If the license has been lapsed for more than two years, the applicant shall fulfill
the requirements for issuance of a new license.
E. A licensed insurance producer who is unable to comply with license renewal
procedures due to military service or other extenuating circumstance, such as a long-term
medical disability, may request a waiver of those procedures. The producer may also request
a waiver of any examination requirement or any other fine or sanction imposed for failure
to comply with renewal procedures.
F. The license shall state the name and business address of the licensee, date of
issuance, the renewal or expiration date, the line or lines of insurance covered by the license,
and such other information as the commissioner deems necessary.
G. Every licensee shall notify the commissioner, by any means acceptable to the
commissioner, of any change of address, legal name, or information submitted on the
application within thirty days of the change. Failure to file such change within the required
time shall result in the imposition of a fifty-dollar penalty per violation. Any person against
whom a penalty has been levied shall be given due notice of such action. Upon receipt of
this notice, the licensee may apply for and shall be entitled to a hearing in accordance with
Chapter 12 of this Title, R.S. 22:2191 et seq.
H. A duplicate license may be issued for any lost, stolen, or destroyed license issued
pursuant to this Subpart upon a request by the licensee, by a method prescribed by the
commissioner, setting forth the facts of such loss, theft, or destruction, together with a fee
as authorized by R.S. 22:821.
I. Any licensed property and casualty or accident and health or sickness insurance
producer maintaining an office at a designated location in this state and having at least two
years experience in the insurance business with an insurer or as an insurance producer may
be licensed as a surplus lines broker as follows:
(1) The applicant shall submit an application to the commissioner for the license on
forms approved by the commissioner.
(2) The applicant shall submit the required license fee, as authorized by R.S. 22:821,
for each license year during any part of which the license is in effect. The license shall
remain in force until the biannual renewal date.
(3) The applicant shall pass an examination approved by the commissioner.
J. In order to assist in the performance of the commissioner's duties, the
commissioner may contract with nongovernmental entities, including the National
Association of Insurance Commissioners (NAIC) or any affiliates or subsidiaries that the
NAIC oversees, to perform any ministerial functions, including the collection of fees, related
to producer licensing that the commissioner and the nongovernmental entity may deem
appropriate.
K. The commissioner may participate, in whole or in part, with the National
Association of Insurance Commissioners (NAIC), or any affiliates or subsidiaries the NAIC
oversees, in a centralized producer license registry where insurance producer licenses and
appointments may be centrally or simultaneously effected for all states that require an
insurance producer license and participate in such centralized producer license registry. If
the commissioner finds that participation in such a centralized registry is in the public
interest, the commissioner may adopt by rule any uniform standards and procedures as are
necessary to participate in the registry. Any participation in a centralized registry shall be
under the administration and control of employees of the department and may not be the
subject of any contract for services with any person or entity outside of the department.
L.(1) When a business entity has no one designated pursuant to R.S.
22:1546(B)(2)(b), the commissioner shall notify the business entity in writing, and the
business entity shall designate one or more licensed individual producers to be responsible
for its compliance with the insurance laws, rules, and regulations of this state.
(2) If the business entity fails to designate a licensed individual within thirty days of
written notice, the commissioner shall inactivate the license immediately.
(3) The commissioner may reactivate the license upon compliance with this
Subsection prior to the expiration of the license.
(4) Inactivation pursuant to this Subsection shall not be construed as a disciplinary
or regulatory action.

Legislative History

Acts 2001, No. 158, §1, eff. Jan. 1, 2002; Acts 2006, No. 335, §1, eff. June 13, 2006; Acts 2006, No. 605, §1, eff. June 23, 2006; Redesignated from R.S. 22:1137 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2009, No. 317, §1; Acts 2009, No. 485, §1, eff. Jan. 1, 2010; Acts 2010, No. 967, §1; Acts 2011, No. 94, §1, eff. Jan. 1, 2012; Acts 2014, No. 117, §1; Acts 2014, No. 118, §1; Acts 2016, No. 315, §1, eff. June 2, 2016; Acts 2018, No. 7, §1, eff. Jan. 1, 2019; Acts 2018, No. 13, §1; Acts 2022, No. 56, §1.