(a) No insurer shall issue an insurance contract covering a subject of insurance resident, located, or to be performed in this territory unless the insurance contract is countersigned by its licensed agent, or manager or general agent, except as provided in section 221 of this title. The Commissioner may suspend or revoke the certificate of authority of any insurer violating this provision.
(b) An agent, general agent or manager shall not sign or countersign any insurance contract in blank. The Commissioner may suspend or revoke the license of any agent or general agent violating this provision.
(c) Such violation shall not invalidate any insurance contract.