§ 27-25-33 - Licensing of insurance producers.
SECTION 27-25-33
§ 27-25-33 Licensing of insuranceproducers. – (a) Insurance producers of societies shall be licensed in accordance with theprovisions of the laws regulating the licensing, revocation, suspension, ortermination of license of resident and nonresident insurance producers.
(b) No examination or license shall be required of anyregular salaried officer, employee, or member of a licensed society who devotessubstantially all of his or her services to activities other than thesolicitation of fraternal insurance contracts from the public, and who receivesfor the solicitation of the contracts no commission or other compensationdirectly dependent upon the amount of business obtained.
(c) Any insurance producer, representative, or member of asociety who devotes, or intends to devote, less than fifty percent (50%) of hisor her time to the solicitation and procurement of insurance contracts for thesociety or who was in the service of a society on January 1, 1985, shall beexempt from the requirements of subsection (a) of this section. Any person whoin the preceding calendar year has solicited and procured life insurancecontracts on behalf of any society in an amount of insurance in excess of fiftythousand dollars ($50,000) or, in the case of any other kind or kinds ofinsurance which the society might write, on the persons of more thantwenty-five (25) individuals and who has received or will receive a commissionor other compensation for those contracts, shall be presumed to be devoting, orintending to devote, fifty percent (50%) of his or her time to the solicitationor procurement of insurance contracts for the society.