2020 Louisiana Laws
Revised Statutes
Title 22 - Insurance
§1808.4. License
RS 1808.4 - License
A. Unless denied licensure pursuant to R.S. 22:1808.8, persons who have met the requirements of this Part shall be issued an insurance consultant license. An insurance consultant may receive qualification for a license in one or more of the following lines of authority:
(1) Life, which provides 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) Health and accident, which provides insurance coverage for sickness, bodily injury, or accidental death, and may include benefits for disability income.
(3) Variable life and variable annuity products.
(4) Property, which provides insurance coverage for the direct or consequential loss or damage to property of every kind.
(5) Casualty, which provides insurance coverage against legal liability, including that for death, injury or disability, or damage to real or personal property.
B. Subject to the requirements of Subsection C of this Section, an insurance consultant license shall remain in effect, unless revoked, suspended, or denied renewal or reinstatement, as long as all applicable fees are paid and education requirements are satisfied, until the license expires or is surrendered by the holder thereof.
C.(1) Every licensed consultant shall file an application for renewal of his license every two years, by notifying the commissioner of insurance, by methods prescribed by the commissioner, of the licensee's intention to renew his license as a consultant.
(2) Any licensee who fails to file timely for license renewal shall be charged a late fee as authorized by R.S. 22:821.
(3)(a) Prior to the filing date for the application for renewal of a license, the licensee shall comply with the continuing education requirements in R.S. 22:1573 for the lines of insurance being renewed.
(b) Such consultant shall file with the commissioner of insurance, by a method prescribed by the commissioner, satisfactory certification of completion of the continuing education requirements.
(c) Any failure to fulfill the continuing education requirements shall result in the expiration of the license.
D. An insurance consultant who allows his license to lapse may, within two years from the expiration date of the license, reinstate the same license upon proof of fulfilling all continuing education requirements through the date of reinstatement and upon payment of all fees due. If the license has been lapsed for more than two years, the applicant shall fulfill the requirements for issuance of a new license.
E. A licensed insurance consultant who is unable to comply with license renewal procedures due to military service or other extenuating circumstance, such as a long-term medical disability, may request a waiver of those procedures. The consultant may also request a waiver of any examination requirement or any other fine or sanction imposed for failure to comply with renewal procedures.
F. The license shall state the name and mailing address of the licensee, date of issuance, the renewal or expiration date, the line or lines of insurance covered by the license, and such other information as the commissioner of insurance deems necessary.
G. Every licensee shall notify the commissioner, by any means acceptable to the commissioner, of any change of address, legal name, or information submitted on the application within thirty days of the change. Failure to file such change within the required time shall result in the imposition of a fifty-dollar penalty per violation. Any person against whom a penalty has been levied shall be given due notice of such action. Upon receipt of this notice, the licensee may apply for and shall be entitled to a hearing in accordance with Chapter 12 of this Title, R.S. 22:2191 et seq.
H. A duplicate license may be issued for any lost, stolen, or destroyed license issued pursuant to this Part upon a request by the licensee, by a method prescribed by the commissioner, setting forth the facts of such loss, theft, or destruction, together with a fee as authorized by R.S. 22:821.
I. In order to assist in the performance of the commissioner's duties, the commissioner may contract with nongovernmental entities, including the National Association of Insurance Commissioners (NAIC) or any affiliates or subsidiaries that the NAIC oversees, to perform any ministerial functions, including the collection of fees, related to consultant licensing that the commissioner and the nongovernmental entity may deem appropriate.
Acts 2016, No. 312, §1.
