(a) To qualify for a license as an insurance producer for life insurance, health insurance, annuities, nonprofit health service plans, dental plan organizations, health maintenance organizations, or fraternal benefit societies an individual applicant must meet the requirements of this section.
Good character and trustworthiness
(b) An applicant must be of good character and trustworthy based on the standards of § 10-126 of this subtitle.
Minimum age
(c) An applicant must be at least 18 years of age.
Acts warranting denial of license
(d) An applicant may not have committed any act that the Commissioner finds would warrant denial of a license under § 10-126 of this subtitle.
Education and employment
(e)(1) So that the applicant is reasonably familiar with the kind or subdivision of insurance for which the applicant wants to be licensed:
(i) the applicant must complete successfully a program of studies that has been established or approved by the Commissioner;
(ii) during the 3 years immediately preceding the date of application, the applicant must have been employed regularly for periods totaling at least 1 year:
1. by the Administration as an employee or by an insurer or insurance producer; and
2. in responsible insurance duties in connection with the kind or subdivision of insurance for which the applicant wants to be licensed; or
(iii) during the 3 years immediately preceding the date of entering or immediately after discharge from the armed forces of the United States, the applicant must have been employed regularly for periods totaling at least 1 year:
1. by an insurer or insurance producer; and
2. in connection with the kind or subdivision of insurance for which the applicant wants to be licensed.
(2) In the case of an applicant for a limited lines license to act as an insurance producer for credit life insurance or credit health insurance, the applicant shall successfully complete a program of instruction that is:
(i) provided by an insurer that sells, solicits, or negotiates limited line credit insurance; and
(ii) approved by the Commissioner.
(3) The Commissioner may waive the requirement of paragraph (1)(i) of this subsection for life insurance for an applicant who:
(i) 1. has been conferred the Chartered Life Underwriter (C.L.U.) designation by the American College of Life Underwriters; and
2. is a member in good standing of the American Society of Chartered Life Underwriters; or
7. Life Underwriter Training Council Fellow (LUTCF).
(4) The Commissioner may waive the requirement of paragraph (1)(i) of this subsection for health insurance for an applicant who has been conferred the designation of:
(i) Registered Health Underwriter (RHU);
(ii) Certified Employee Benefit Specialist (C.E.B.S.);
(iii) Registered Employee Benefit Consultant (REBC); or
(iv) Health Insurance Associate (HIA).
Requirements for taking examination
(f) Before taking a written examination, an applicant shall:
(1) demonstrate to the Commissioner that the applicant has completed the requirements set out by the Commissioner, including the requirements of subsection (e) of this section; and
(2) pay the application fee required under § 2-112(a)(6)(vi) of this article.
Passing examination
(g)(1) Except as otherwise provided in this subsection, the applicant must pass an examination given by the Commissioner under this subtitle.
(2) The following applicants are not required to take an examination:
(i) an applicant for a license to act as an insurance producer only for selling credit life insurance or credit accident and health insurance or both to a borrower of money or buyer of goods in connection with a loan or credit transaction;
(ii) an applicant for a license to act as an insurance producer for a dental plan organization if the applicant for compensation solicited, procured, or negotiated contracts for dental plan organizations continuously from July 1, 1988, to June 30, 1989;
(iii) an applicant for a license to act as an insurance producer for a nonprofit health service plan if the applicant for compensation solicited, procured, or negotiated contracts for nonprofit health service plans continuously from July 1, 1988, to June 30, 1989; or
(iv) an applicant for a license to act as an insurance producer for a health maintenance organization if the applicant for compensation solicited, procured, or negotiated contracts for health maintenance organizations continuously from July 1, 1988, to June 30, 1989.
Kinds of insurance
(h) An applicant may be licensed as to any particular kind or kinds of insurance.
Credits
Added by Acts 1995, c. 36, § 1, eff. Oct. 1, 1997. Amended by Acts 1996, c. 370, § 2, eff. Oct. 1, 1997; Acts 1997, c. 70, § 15, eff. Oct. 1, 1997; Acts 1999, c. 135, § 1, eff. Oct. 1, 1999; Acts 2001, c. 731, § 1, eff. July 2, 2001; Acts 2003, c. 21, § 6, eff. April 8, 2003; Acts 2008, c. 331, § 1, eff. Oct. 1, 2008; Acts 2013, c. 43, § 5; Acts 2014, c. 45, § 5.
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
