33-17-236. Appointments of insurance producers by insurers. (1) An insurance producer may not claim to be a representative of or an authorized or appointed insurance producer of or use another term implying a contractual relationship with a particular insurer unless the insurance producer is an appointed insurance producer of that insurer pursuant to this section. This does not prevent an insurance producer from obtaining and presenting a quotation from an insurer with whom the producer is not appointed. If the insurer consents, the insurer may bind coverage on a risk in accordance with 33-15-411 prior to the execution of an agency contract and policy issuance.
(2) The insurer shall, not later than 15 days from the date on which the agency contract is executed with an insurance producer, file with the commissioner a written notice of appointment on a form prescribed by the commissioner. The notice may be electronically filed pursuant to rules adopted by the commissioner.
(3) Upon receipt of the notice of appointment, the commissioner shall verify that the insurance producer is eligible for appointment. If the insurance producer is determined to be ineligible for appointment, the commissioner shall notify the insurer of the determination.
(4) (a) An appointment is effective on the earlier of the date of the executed agency contract or the date on which the insurer files the notice of appointment with the commissioner, unless the appointment is disapproved by the commissioner.
(b) A disapproved appointment is void on the date the department provides notification to the insurer.
(c) An appointment of which notice is not filed within 15 days of execution of the agency contract is not effective until the date that the insurer files the notice of appointment with the commissioner.
(5) An appointment is perpetual until canceled by the insurer.
History: En. Sec. 5, Ch. 713, L. 1989; amd. Sec. 3, Ch. 6, Sp. L. November 1993; amd. Sec. 32, Ch. 472, L. 1999; amd. Sec. 3, Ch. 38, L. 2017; amd. Sec. 2, Ch. 110, L. 2019.