Issuance of producer's license, duration--lines of authority--biennialrenewal fee for agents, due when--reinstatement of license,when--failure to comply, effect.
375.018. 1. Unless denied licensure pursuant to section 375.141,persons who have met the requirements of sections 375.014, 375.015 and 375.016shall be issued an insurance producer license for a term of two years. Aninsurance producer may qualify for a license in one or more of the followinglines of authority:
(1) Life insurance coverage on human lives including benefits ofendowment and annuities, and may include benefits in the event of death ordismemberment by accident and benefits for disability income;
(2) Accident and health or sickness insurance coverage for sickness,bodily injury or accidental death and may include benefits for disabilityincome;
(3) Property insurance coverage for the direct or consequential loss ordamage to property of every kind;
(4) Casualty insurance coverage against legal liability, including thatfor death, injury or disability or damage to real or personal property;
(5) Variable life and variable annuity products insurance coverageprovided under variable life insurance contracts and variable annuities;
(6) Personal lines property and casualty insurance coverage sold toindividuals and families for primarily noncommercial purposes;
(7) Credit-limited line credit insurance;
(8) Any other line of insurance permitted under state laws orregulations.
2. Any insurance producer who is certified by the Federal Crop InsuranceCorporation on September 28, 1995, to write federal crop insurance shall notbe required to have a property license for the purpose of writing federal cropinsurance.
3. The biennial renewal fee for a producer's license is one hundreddollars for each license. A producer's license shall be renewed biennially onthe anniversary date of issuance and continue in effect until refused, revokedor suspended by the director in accordance with section 375.141.
4. An individual insurance producer who allows his or her license toexpire may, within twelve months from the due date of the renewal fee,reinstate the same license without the necessity of passing a writtenexamination. The insurance producer seeking relicensing pursuant to thissubsection shall provide proof that the continuing education requirements havebeen met and shall pay a penalty of twenty-five dollars per month that thelicense was expired in addition to the requisite renewal fees that would havebeen paid had the license been renewed in a timely manner. Nothing in thissubsection shall require the director to relicense any insurance producerdetermined to have violated the provisions of section 375.141.
5. A business entity insurance producer that allows the license toexpire may, within twelve months of the due date of the renewal, reinstate thelicense by paying the license fee that would have been paid had the licensebeen renewed in a timely manner plus a penalty of twenty-five dollars permonth that the license was expired.
6. The license shall contain the name, address, identification number ofthe insurance producer, the date of issuance, the lines of authority, theexpiration date and any other information the director deems necessary.
7. Insurance producers shall inform the director by any means acceptableto the director of a change of address within thirty days of the change.Failure to timely inform the director of a change in legal name or address mayresult in a forfeiture not to exceed the sum of ten dollars per month.
8. In order to assist the director in the performance of his or herduties, the director may contract with nongovernmental entities, including theNational Association of Insurance Commissioners or any affiliates orsubsidiaries that the organization oversees or through any other method thedirector deems appropriate, to perform any ministerial functions, includingthe collection of fees, related to producer licensing that the director maydeem appropriate.
9. Any bank or trust company in the sale or issuance of insuranceproducts or services shall be subject to the insurance laws of this state andrules adopted by the department of insurance, financial institutions andprofessional registration.
10. A licensed insurance producer who is unable to comply with licenserenewal procedures due to military service or some other extenuatingcircumstance, such as a long-term medical disability, may request a waiver ofthose procedures. The producer may also request a waiver of any other fine orsanction imposed for failure to comply with renewal procedures.
Issuance of producer's license, duration--lines of authority--biennialrenewal fee for agents, due when--reinstatement of license,when--failure to comply, effect.
375.018. 1. Unless denied licensure pursuant to section 375.141,persons who have met the requirements of sections 375.014, 375.015 and 375.016shall be issued an insurance producer license for a term of two years. Aninsurance producer may qualify for a license in one or more of the followinglines of authority:
(1) Life insurance coverage on human lives including benefits ofendowment and annuities, and may include benefits in the event of death ordismemberment by accident and benefits for disability income;
(2) Accident and health or sickness insurance coverage for sickness,bodily injury or accidental death and may include benefits for disabilityincome;
(3) Property insurance coverage for the direct or consequential loss ordamage to property of every kind;
(4) Casualty insurance coverage against legal liability, including thatfor death, injury or disability or damage to real or personal property;
(5) Variable life and variable annuity products insurance coverageprovided under variable life insurance contracts and variable annuities;
(6) Personal lines property and casualty insurance coverage sold toindividuals and families for primarily noncommercial purposes;
(7) Credit-limited line credit insurance;
(8) Any other line of insurance permitted under state laws orregulations.
2. Any insurance producer who is certified by the Federal Crop InsuranceCorporation on September 28, 1995, to write federal crop insurance shall notbe required to have a property license for the purpose of writing federal cropinsurance.
3. The biennial renewal fee for a producer's license is one hundreddollars for each license. A producer's license shall be renewed biennially onthe anniversary date of issuance and continue in effect until refused, revokedor suspended by the director in accordance with section 375.141.
4. An individual insurance producer who allows his or her license toexpire may, within twelve months from the due date of the renewal fee,reinstate the same license without the necessity of passing a writtenexamination. The insurance producer seeking relicensing pursuant to thissubsection shall provide proof that the continuing education requirements havebeen met and shall pay a penalty of twenty-five dollars per month that thelicense was expired in addition to the requisite renewal fees that would havebeen paid had the license been renewed in a timely manner. Nothing in thissubsection shall require the director to relicense any insurance producerdetermined to have violated the provisions of section 375.141.
5. A business entity insurance producer that allows the license toexpire may, within twelve months of the due date of the renewal, reinstate thelicense by paying the license fee that would have been paid had the licensebeen renewed in a timely manner plus a penalty of twenty-five dollars permonth that the license was expired.
6. The license shall contain the name, address, identification number ofthe insurance producer, the date of issuance, the lines of authority, theexpiration date and any other information the director deems necessary.
7. Insurance producers shall inform the director by any means acceptableto the director of a change of address within thirty days of the change.Failure to timely inform the director of a change in legal name or address mayresult in a forfeiture not to exceed the sum of ten dollars per month.
8. In order to assist the director in the performance of his or herduties, the director may contract with nongovernmental entities, including theNational Association of Insurance Commissioners or any affiliates orsubsidiaries that the organization oversees or through any other method thedirector deems appropriate, to perform any ministerial functions, includingthe collection of fees, related to producer licensing that the director maydeem appropriate.
9. Any bank or trust company in the sale or issuance of insuranceproducts or services shall be subject to the insurance laws of this state andrules adopted by the department of insurance, financial institutions andprofessional registration.
10. A licensed insurance producer who is unable to comply with licenserenewal procedures due to military service or some other extenuatingcircumstance, such as a long-term medical disability, may request a waiver ofthose procedures. The producer may also request a waiver of any other fine orsanction imposed for failure to comply with renewal procedures.
Issuance of producer's license, duration--lines of authority--biennialrenewal fee for agents, due when--reinstatement of license,when--failure to comply, effect.
375.018. 1. Unless denied licensure pursuant to section 375.141,persons who have met the requirements of sections 375.014, 375.015 and 375.016shall be issued an insurance producer license for a term of two years. Aninsurance producer may qualify for a license in one or more of the followinglines of authority:
(1) Life insurance coverage on human lives including benefits ofendowment and annuities, and may include benefits in the event of death ordismemberment by accident and benefits for disability income;
(2) Accident and health or sickness insurance coverage for sickness,bodily injury or accidental death and may include benefits for disabilityincome;
(3) Property insurance coverage for the direct or consequential loss ordamage to property of every kind;
(4) Casualty insurance coverage against legal liability, including thatfor death, injury or disability or damage to real or personal property;
(5) Variable life and variable annuity products insurance coverageprovided under variable life insurance contracts and variable annuities;
(6) Personal lines property and casualty insurance coverage sold toindividuals and families for primarily noncommercial purposes;
(7) Credit-limited line credit insurance;
(8) Any other line of insurance permitted under state laws orregulations.
2. Any insurance producer who is certified by the Federal Crop InsuranceCorporation on September 28, 1995, to write federal crop insurance shall notbe required to have a property license for the purpose of writing federal cropinsurance.
3. The biennial renewal fee for a producer's license is one hundreddollars for each license. A producer's license shall be renewed biennially onthe anniversary date of issuance and continue in effect until refused, revokedor suspended by the director in accordance with section 375.141.
4. An individual insurance producer who allows his or her license toexpire may, within twelve months from the due date of the renewal fee,reinstate the same license without the necessity of passing a writtenexamination. The insurance producer seeking relicensing pursuant to thissubsection shall provide proof that the continuing education requirements havebeen met and shall pay a penalty of twenty-five dollars per month that thelicense was expired in addition to the requisite renewal fees that would havebeen paid had the license been renewed in a timely manner. Nothing in thissubsection shall require the director to relicense any insurance producerdetermined to have violated the provisions of section 375.141.
5. A business entity insurance producer that allows the license toexpire may, within twelve months of the due date of the renewal, reinstate thelicense by paying the license fee that would have been paid had the licensebeen renewed in a timely manner plus a penalty of twenty-five dollars permonth that the license was expired.
6. The license shall contain the name, address, identification number ofthe insurance producer, the date of issuance, the lines of authority, theexpiration date and any other information the director deems necessary.
7. Insurance producers shall inform the director by any means acceptableto the director of a change of address within thirty days of the change.Failure to timely inform the director of a change in legal name or address mayresult in a forfeiture not to exceed the sum of ten dollars per month.
8. In order to assist the director in the performance of his or herduties, the director may contract with nongovernmental entities, including theNational Association of Insurance Commissioners or any affiliates orsubsidiaries that the organization oversees or through any other method thedirector deems appropriate, to perform any ministerial functions, includingthe collection of fees, related to producer licensing that the director maydeem appropriate.
9. Any bank or trust company in the sale or issuance of insuranceproducts or services shall be subject to the insurance laws of this state andrules adopted by the department of insurance, financial institutions andprofessional registration.
10. A licensed insurance producer who is unable to comply with licenserenewal procedures due to military service or some other extenuatingcircumstance, such as a long-term medical disability, may request a waiver ofthose procedures. The producer may also request a waiver of any other fine orsanction imposed for failure to comply with renewal procedures.
