§ 27-2.4-9. License.
(a) Unless denied licensure pursuant to § 27-2.4-14, persons who have met the requirements of §§ 27-2.4-7 and 27-2.4-8 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 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 insurance coverage for sickness, bodily injury, or
accidental death and may include benefits for disability income;
(3) Property insurance coverage for the direct or consequential loss or damage to property
of every kind;
(4) Casualty insurance coverage against legal liability, including that for death, injury,
or disability or damage to real or personal property;
(5) Variable life and variable annuity products insurance coverage provided under variable
life insurance contracts and variable annuities;
(6) Personal lines-property and casualty insurance coverage sold to individuals and families
for primary noncommercial purposes;
(7) Credit-limited line credit insurance;
(8) Any other line of insurance permitted under state laws or regulations.
(b) An insurance producer license shall remain in effect unless revoked or suspended as
long as the fee set forth in § 27-2.4-4 is paid and education requirements for resident individual insurance producers are
met by the license renewal due date.
(c) An individual insurance producer who allows his or her license to expire may, within
twelve (12) months from the due date of the renewal fee, reinstate this license without
the necessity of passing a written examination. A penalty in the amount of double
the unpaid renewal fee shall be required for any renewal fee received after the due
date.
(d) A licensed insurance producer who is unable to comply with license renewal procedures
due to military service or some other extenuating circumstance (e.g., a long-term
medical disability) may request a waiver of those procedures. The insurance producer
may also request a waiver of any examination requirement or any other fine or sanction
imposed for failure to comply with renewal procedures.
(e) The license shall contain the insurance producer's name, address, license number,
license type, lines of authority, and any other information the insurance commissioner
deems necessary.
(f) Insurance producers shall inform the insurance commissioner by any means acceptable
to the insurance commissioner of a change in legal name or address within thirty (30)
days of the change. Failure to timely inform the insurance commissioner of a change
in legal name or address may result in a penalty to be determined by the insurance
commissioner.
(g) In order to assist in the performance of the insurance commissioner's duties, the
insurance commissioner may contract with non-government entities, including the NAIC
or any affiliates or subsidiaries that the NAIC oversees, to perform any ministerial
functions, including the collection of fees, related to insurance producer licensing
that the insurance commissioner and the non-governmental entity may deem appropriate.