33-17-238. Appointment by affiliation. (1) Unless prohibited by the insurer, a business entity insurance producer may satisfy the appointment requirements of 33-17-236(1) by affiliating with a business entity insurance producer that has been appointed directly by the insurer.
(2) A business entity insurance producer obtaining an appointment by affiliation under subsection (1) shall maintain a copy of each written affiliation agreement for 3 years following termination of the affiliation and make copies of the agreement available to the commissioner upon request.
(3) An appointment by affiliation under subsection (1) is effective on the date the business entity insurance producer enters into an affiliation agreement.
(4) A business entity insurance producer appointed by affiliation under this section is authorized to transact the kinds of insurance for which the business entity insurance producer directly appointed by the insurer is also authorized, except:
(a) a business entity insurance producer appointed by affiliation may not transact kinds of insurance for which the insurance producer is not otherwise authorized; and
(b) the insurer may specify in writing those kinds of insurance the business entity insurance producer may transact under the appointment.
History: En. Sec. 1, Ch. 38, L. 2017; amd. Sec. 3, Ch. 110, L. 2019.