40-4907.Same; temporary license; when authorized;powers of commissioner.(a) Except as provided in subsection (c),the commissioner may issue a temporary insuranceagentlicense for a period not to exceed 180 days without requiring the applicant topass awritten examination. A temporary insurance agent license maybeissued to:
(1) The surviving spouse or court-appointed personal representative of alicensed insurance agent who dies or becomes mentally or physically disabledtoallow adequate time:
(A) For the sale of the insurance business owned by such insuranceagent;
(B) for the recovery or return of such insurance agent to the business; or
(C) to provide forthetraining and licensing of new personnel to operate such insurance agent'sbusiness.
Any insurance agentlicense issued to a surviving spouse shall lapse upon issuance of an insuranceagent license or atemporary insurance agent license to a court-appointed personalrepresentative of such deceasedperson.
(2) Any member or employee of a business entity licensed as an insuranceagent, upon the death or disability of an individual designated in suchbusinessentity's application or the insurance agent's license.
(3) The designee of an individual licensed as an insurance agent who isentering active serviceinthe armed forces of the United States of America.
(4) Any other person under such other circumstance where the commissionerdeemsthat the publicinterest will be best served by the issuance of such license.
(b) The commissioner may issue any order deemed necessary by thecommissioner tolimit the authority of any temporarylicensee to protect insureds and the public. Thecommissioner may require the temporary licensee to have a suitable sponsor.Such sponsor shall:
(1) Be a licensed insurance agent or insurer; and
(2) assume responsibility for all acts ofthetemporary licensee.
The commissioner may impose other similar requirements designed toprotectinsureds and the public. If the interests of the insureds or the public areendangered, the commissioner may by order revoke a temporarylicense. No temporarylicenseshall continue after the owner or the personal representative disposes of thebusiness.
(c) (1) Except as provided in paragraph (2) the commissioner mayextend a temporary insurance agent license for one additional period of upto 180 days.
(2) Any temporary insurance agent license issued pursuant to paragraph(3) of subsection (a) may be renewed for such period of time as in thecommissioner's opinion may be necessary for the continuation of the business ofsuch licensed individual.
40-4907.Same; temporary license; when authorized;powers of commissioner.(a) Except as provided in subsection (c),the commissioner may issue a temporary insuranceagentlicense for a period not to exceed 180 days without requiring the applicant topass awritten examination. A temporary insurance agent license maybeissued to:
(1) The surviving spouse or court-appointed personal representative of alicensed insurance agent who dies or becomes mentally or physically disabledtoallow adequate time:
(A) For the sale of the insurance business owned by such insuranceagent;
(B) for the recovery or return of such insurance agent to the business; or
(C) to provide forthetraining and licensing of new personnel to operate such insurance agent'sbusiness.
Any insurance agentlicense issued to a surviving spouse shall lapse upon issuance of an insuranceagent license or atemporary insurance agent license to a court-appointed personalrepresentative of such deceasedperson.
(2) Any member or employee of a business entity licensed as an insuranceagent, upon the death or disability of an individual designated in suchbusinessentity's application or the insurance agent's license.
(3) The designee of an individual licensed as an insurance agent who isentering active serviceinthe armed forces of the United States of America.
(4) Any other person under such other circumstance where the commissionerdeemsthat the publicinterest will be best served by the issuance of such license.
(b) The commissioner may issue any order deemed necessary by thecommissioner tolimit the authority of any temporarylicensee to protect insureds and the public. Thecommissioner may require the temporary licensee to have a suitable sponsor.Such sponsor shall:
(1) Be a licensed insurance agent or insurer; and
(2) assume responsibility for all acts ofthetemporary licensee.
The commissioner may impose other similar requirements designed toprotectinsureds and the public. If the interests of the insureds or the public areendangered, the commissioner may by order revoke a temporarylicense. No temporarylicenseshall continue after the owner or the personal representative disposes of thebusiness.
(c) (1) Except as provided in paragraph (2) the commissioner mayextend a temporary insurance agent license for one additional period of upto 180 days.
(2) Any temporary insurance agent license issued pursuant to paragraph(3) of subsection (a) may be renewed for such period of time as in thecommissioner's opinion may be necessary for the continuation of the business ofsuch licensed individual.
40-4907.Same; temporary license; when authorized;powers of commissioner.(a) Except as provided in subsection (c),the commissioner may issue a temporary insuranceagentlicense for a period not to exceed 180 days without requiring the applicant topass awritten examination. A temporary insurance agent license maybeissued to:
(1) The surviving spouse or court-appointed personal representative of alicensed insurance agent who dies or becomes mentally or physically disabledtoallow adequate time:
(A) For the sale of the insurance business owned by such insuranceagent;
(B) for the recovery or return of such insurance agent to the business; or
(C) to provide forthetraining and licensing of new personnel to operate such insurance agent'sbusiness.
Any insurance agentlicense issued to a surviving spouse shall lapse upon issuance of an insuranceagent license or atemporary insurance agent license to a court-appointed personalrepresentative of such deceasedperson.
(2) Any member or employee of a business entity licensed as an insuranceagent, upon the death or disability of an individual designated in suchbusinessentity's application or the insurance agent's license.
(3) The designee of an individual licensed as an insurance agent who isentering active serviceinthe armed forces of the United States of America.
(4) Any other person under such other circumstance where the commissionerdeemsthat the publicinterest will be best served by the issuance of such license.
(b) The commissioner may issue any order deemed necessary by thecommissioner tolimit the authority of any temporarylicensee to protect insureds and the public. Thecommissioner may require the temporary licensee to have a suitable sponsor.Such sponsor shall:
(1) Be a licensed insurance agent or insurer; and
(2) assume responsibility for all acts ofthetemporary licensee.
The commissioner may impose other similar requirements designed toprotectinsureds and the public. If the interests of the insureds or the public areendangered, the commissioner may by order revoke a temporarylicense. No temporarylicenseshall continue after the owner or the personal representative disposes of thebusiness.
(c) (1) Except as provided in paragraph (2) the commissioner mayextend a temporary insurance agent license for one additional period of upto 180 days.
(2) Any temporary insurance agent license issued pursuant to paragraph(3) of subsection (a) may be renewed for such period of time as in thecommissioner's opinion may be necessary for the continuation of the business ofsuch licensed individual.
