(A) Unless denied licensure pursuant to Section 38-43-130, persons who have met the requirements of Section 38-43-100 must be issued an insurance producer license. An insurance producer may receive qualification for a license in one or more of the following lines of insurance:
(1) life insurance coverage on human lives including benefits of endowment and annuities, and may include benefits in the event of death or dismemberment by accident and benefits for disability income;
(2) accident and health insurance coverage for sickness, bodily injury, or accidental death and may include benefits for disability income;
(3) property insurance coverage for the direct or consequential loss or damage to property of every kind;
(4) casualty insurance coverage against legal liability, including that for death, injury, or disability or damage to real or personal property;
(5) variable life and variable annuity products-insurance coverage provided under variable life insurance contracts, or variable annuities;
(6) personal lines property and casualty insurance coverage sold to individuals and families for primarily noncommercial purposes;
(7) limited line insurance;
(8) any other line of insurance permitted under state laws or regulations.
(B) The director or his designee shall waive any license application requirements for a nonresident license applicant with a valid license from his home state, except the requirements imposed by this section, if the applicant's home state awards nonresident licenses to residents of this State on the same basis.
(C) A nonresident producer's satisfaction of his home state's continuing education requirements for licensed insurance producers shall constitute satisfaction of this state's continuing education requirements if the nonresident producer's home state recognizes the satisfaction of its continuing education requirements imposed upon producers from this State on the same basis.
HISTORY: 2002 Act No. 323, Section 2, eff January 31, 2003; 2008 Act No. 326, Section 3, eff June 16, 2008.