§ 23-64-507. License
(a) Unless denied licensure pursuant to § 23-64-512, persons who have met the requirements of §§ 23-64-505 and 23-64-506 shall be issued an insurance producer license. An insurance producer may receive qualification for a license in one (1) or more of the following lines of authority: (1) Life insurance coverage on human lives including benefits […]
§ 23-64-508. Nonresident licensing
(a) Unless denied licensure pursuant to § 23-64-512, a nonresident person shall receive a nonresident producer license if: (1) The person is currently licensed as a resident and in good standing in his or her home state; (2) The person has submitted the proper request for licensure and has paid the fees required by § […]
§ 23-64-509. Exemption from examination
(a) An individual who applies for an insurance producer license in this state who was previously licensed for the same lines of authority in another state shall not be required to complete any prelicensing education or examination. This exemption is only available if the person is currently licensed in that state or if the application […]
§ 23-64-510. Assumed names
An insurance producer doing business under any name other than the producer’s legal name is required to notify the Insurance Commissioner prior to using the assumed name.
§ 23-64-511. Temporary licensing
(a) The Insurance Commissioner may issue a temporary insurance producer license for a period not to exceed one hundred eighty (180) days without requiring an examination if the commissioner deems that the temporary license is necessary for the servicing of an insurance business in the following cases: (1) To the surviving spouse or court-appointed personal […]
§ 23-64-512. License denial, nonrenewal, or revocation
(a) The Insurance Commissioner may place on probation, suspend, revoke, or refuse to issue or renew an insurance producer’s license or may levy a civil penalty in accordance with § 23-64-216 or any combination of actions for any one (1) or more of the following causes: (1) Providing incorrect, misleading, incomplete, or materially untrue information […]
§ 23-64-405. Reporting requirements
(a) The insurer shall have on file an independent financial examination, in a form acceptable to the Insurance Commissioner, of each managing general agent with which it has done business. (b) If a managing general agent establishes loss reserves, the insurer shall annually obtain the opinion of an actuary attesting to the adequacy of loss […]
§ 23-64-513. Commissions
(a) An insurance company or insurance producer shall not pay a commission, service fee, brokerage, or other valuable consideration to a person for selling, soliciting, or negotiating insurance in this state if that person is required to be licensed under this subchapter and is not so licensed. (b) A person shall not accept a commission, […]
§ 23-64-406. Representative capacity — Examinations
The acts of the managing general agent are considered to be the acts of the insurer on whose behalf it is acting. A managing general agent may be examined as if it were the insurer.
§ 23-64-514. Appointments
(a) An insurance producer shall not act as an agent of an insurer unless the insurance producer becomes an appointed agent of that insurer. An insurance producer who is not acting as an agent of an insurer is not required to become appointed. (b) To appoint a producer as its agent, the appointing insurer shall […]