§431:9A-107  License.  (a)  Except as
provided in section 431:9A-112, a person who has met the requirements of
sections 431:9A-105 and 431:9A-106 shall be issued an insurance producer
license.  An insurance producer may receive 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, 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 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:  property and casualty insurance
coverage sold to individuals and families for primarily noncommercial purposes;



(7)  Credit:  limited line credit insurance; or



(8)  Any other line of insurance permitted under state
law or rule.



(b)  Except as provided in section 431:9A-112,
an insurance producer license shall remain in effect so long as the fee set
forth in section 431:7-101 is paid and the educational requirements for
resident individual producers are timely met.



(c)  An insurance producer who allows the
producer's license to become inactive for nonpayment of the renewal fee may
reinstate that license without the necessity of passing a written examination,
if the fee payable and a penalty in the amount of fifty per cent of then unpaid
fees are paid within twenty-four months from the inactivation date and the
producer is in compliance with all requirements of chapter 431.  If the license
is not reinstated within the twenty-four-month period, the license shall
automatically expire.



(d)  A licensed insurance producer who is
unable to comply with license renewal procedures due to military service or an
extenuating circumstance as determined by the commissioner may request a waiver
of those procedures.  The producer also may 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 licensee's
name, address, personal identification number, and the date of issuance, the
lines of authority, the expiration date, and any other information the
commissioner deems necessary.



(f)  A licensee shall:



(1)  Inform the commissioner by any means acceptable
to the commissioner of any change of status within thirty days of the change;
and



(2)  Report any change of status to the business
registration division if the licensee is a business entity registered with the
department of commerce and consumer affairs pursuant to title 23 or title 23A,
or if the licensee has registered a trade name pursuant to part I of chapter
482.



Failure to timely inform the commissioner or
the business registration division of a change of status may result in a
penalty pursuant to section 431:2-203.



As used in this subsection, "change of
status" includes but shall not be limited to change of legal name, assumed
name, trade name, business address, home address, business phone number,
business fax number, business electronic mail address, or business website
address.



(g)  In order to assist in the performance of
the commissioner's duties, the commissioner may contract with nongovernmental
entities, including the National Association of Insurance Commissioners or any
affiliates or subsidiaries that the National Association of Insurance
Commissioners oversees, to perform any ministerial functions, including the
collection of fees, related to producer licensing as agreed upon by the
commissioner and the nongovernmental entity. [L 2001, c 216, pt of §2; am L
2002, c 155, §31; am L 2003, c 212, §60; am L 2004, c 122, §28; am L 2006, c 154,
§26]