83-17-25 - Duration of privilege licenses.
§ 83-17-25. Duration of privilege licenses.
[Effective until November 1, 2009, this section will read as follows:]
No certificate of authority shall be issued to any agent who has not previously obtained from the commissioner a privilege license to act as an insurance agent; provided that agents or organizers of fraternal orders shall not be required to have such privilege license. The privilege license required of an insurance agent shall continue for the next ensuing twelve (12) months after June 1 of each year.
The privilege licenses and filing fees required of life insurance companies, health and accident insurance companies, hospital insurance companies and fraternal insurance companies, and the agents thereof, shall continue for the next ensuing twelve (12) months after January 1 of each year.
The privilege licenses and filing fees required of fire, casualty, liability, fidelity, surety, guaranty, inland marine, plate glass and title insurance companies shall continue for the next ensuing twelve (12) months after June 1 of each year.
[Effective from and after November 1, 2009, this section will read as follows:]
No certificate of authority shall be issued to any agent who has not previously obtained from the commissioner a privilege license to act as an insurance agent; provided that agents or organizers of fraternal orders shall not be required to have such privilege license.
The privilege licenses and filing fees required of life insurance companies, health and accident insurance companies, hospital insurance companies and fraternal insurance companies, shall continue for the next ensuing twelve (12) months after January 1 of each year.
The privilege licenses and filing fees required of fire, casualty, liability, fidelity, surety, guaranty, inland marine, plate glass and title insurance companies shall continue for the next ensuing twelve (12) months after June 1 of each year.
The privilege license of an individual to act as an insurance producer, limited lines producer, limited lines credit insurance producer, supervising general agent or managing general agent shall continue from the date of issuance of original licenses or from the expiration date for existing licenses until the last day of the month of the licensee's birthday in the second year following issuance or renewal of the license, with a minimum term of thirteen (13) months.
The privilege license of a business entity to act as insurance producer, limited lines producer, limited lines credit insurance producer, supervising general agent or managing general agent shall continue from the date of issuance until May 31 in the second year following issuance or renewal of the license, with a minimum term of thirteen (13) months.
Sources: Codes, 1906, § 2633; Hemingway's 1917, § 5099; 1930, § 5207; 1942, § 5721; Laws, 1956, ch. 340; Laws, 1995, ch. 315, § 2; Laws, 2009, ch. 448, § 6, eff from and after Nov. 1, 2009.