A. Whether an applicant for, a person licensed as or a person seeking a renewal for a producer license, that person shall report to the Insurance Commissioner any administrative action taken against that person in another jurisdiction or by another governmental agency in this state within thirty (30) days of the final disposition of the matter. This report shall include a copy of the order, consent to order or other relevant legal documents.

B. Within thirty (30) days of the initial pretrial hearing date, an applicant for, a person licensed as or a person seeking a renewal for a producer license shall report to the Insurance Commissioner any criminal prosecution of that person taken in any jurisdiction. The report shall include a copy of the initial complaint filed, the order resulting from the hearing and any other relevant legal documents.

C. Failure to comply with this statute shall result in immediate suspension of an application for, a license of or renewal of a producer license.

D. The provisions of this section shall apply to all licenses under Sections 4055.1 et seq. of this title, the Unauthorized Insurers and Surplus Lines Insurance Act, Section 1100 et seq. of this title, the Oklahoma Producer Licensing Act, Section 1435.1 et seq. of this title and the Insurance Adjusters Licensing Act, Section 6201 et seq. of this title.