§431:9A-107  License.  (a)  Except asprovided in section 431:9A-112, a person who has met the requirements ofsections 431:9A-105 and 431:9A-106 shall be issued an insurance producerlicense.  An insurance producer may receive a license in one or more of thefollowing lines of authority:

(1)  Life:  insurance coverage on human lives,including benefits of endowment and annuities, benefits in the event of deathor dismemberment by accident, and benefits for disability income;

(2)  Accident and health or sickness:  insurancecoverage for sickness, bodily injury, or accidental death and benefits fordisability income;

(3)  Property:  insurance coverage for the direct orconsequential loss or damage to property of every kind;

(4)  Casualty:  insurance coverage against legalliability, including that for death, injury, or disability or damage to real orpersonal property;

(5)  Variable life and variable annuity products: insurance coverage provided under variable life insurance contracts andvariable annuities;

(6)  Personal:  property and casualty insurancecoverage sold to individuals and families for primarily noncommercial purposes;

(7)  Credit:  limited line credit insurance; or

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

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

(c)  An insurance producer who allows theproducer's license to become inactive for nonpayment of the renewal fee mayreinstate 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 unpaidfees are paid within twenty-four months from the inactivation date and theproducer is in compliance with all requirements of chapter 431.  If the licenseis not reinstated within the twenty-four-month period, the license shallautomatically expire.

(d)  A licensed insurance producer who isunable to comply with license renewal procedures due to military service or anextenuating circumstance as determined by the commissioner may request a waiverof those procedures.  The producer also may request a waiver of any examinationrequirement or any other fine or sanction imposed for failure to comply withrenewal procedures.

(e)  The license shall contain the licensee'sname, address, personal identification number, and the date of issuance, thelines of authority, the expiration date, and any other information thecommissioner deems necessary.

(f)  A licensee shall:

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

(2)  Report any change of status to the businessregistration division if the licensee is a business entity registered with thedepartment 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 chapter482.

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

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

(g)  In order to assist in the performance ofthe commissioner's duties, the commissioner may contract with nongovernmentalentities, including the National Association of Insurance Commissioners or anyaffiliates or subsidiaries that the National Association of InsuranceCommissioners oversees, to perform any ministerial functions, including thecollection of fees, related to producer licensing as agreed upon by thecommissioner and the nongovernmental entity. [L 2001, c 216, pt of §2; am L2002, c 155, §31; am L 2003, c 212, §60; am L 2004, c 122, §28; am L 2006, c 154,§26]