§ 27-25-33. Licensing of insurance producers.
(a) Insurance producers 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 insurance producers.
(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 the contracts no commission or ot
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§ 27-25-33. Licensing of insurance producers.
(a) Insurance producers 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 insurance producers.
(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 the contracts no commission or other
compensation directly dependent upon the amount of business obtained.
(c) Any insurance producer, representative, or member of a society who devotes, or intends
to devote, less than fifty percent (50%) of his or her time to the solicitation and
procurement of insurance contracts for the society or who was in the service of a
society on January 1, 1985, shall be exempt from the requirements of subsection (a)
of this section. Any person who in the preceding calendar year has 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 kind or kinds of
insurance which the society might write, on the persons of more than twenty-five (25)
individuals and who has received or will receive a commission or other compensation
for those contracts, shall be 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.