§ 27-2.4-8 - Application for license. - Rhode Island Statutes

SECTION 27-2.4-8

   § 27-2.4-8  Application for license. –(a) A person applying for a resident insurance producer license shall makeapplication to the insurance commissioner on the uniform application anddeclare under penalty of refusal, suspension or revocation of the license thatthe statements made in the application are true, correct and complete to thebest of the individual's knowledge and belief. Before approving theapplication, the insurance commissioner shall find that the individual:

   (1) Is at least eighteen (18) years of age;

   (2) Has not committed any act that is a ground for denial,suspension or revocation set forth in § 27-2.4-14;

   (3) Has completed a prelicensing course of study for thelines of authority for which the person has applied unless exempted in writing,for good cause, from the requirement by the department;

   (4) Has paid the fees set forth in § 27-2.4-4; and

   (5) Has successfully passed the examinations for the lines ofauthority for which the person has applied.

   (b) A Rhode Island resident business entity acting as aninsurance producer may elect to obtain an insurance producer license.Application shall be made using the uniform business entity application. Priorto approving the application, the commissioner shall find both of the following:

   (1) The business entity has paid the appropriate fees.

   (2) The business entity has designated a licensed producerresponsible for the business entity's compliance with the insurance laws andrules of this state.

   (c) The insurance commissioner may require any documentsreasonably necessary to verify the information contained in an application.

   (d) Each insurer that sells, solicits or negotiates any formof limited line credit insurance shall provide to each individual whose dutieswill include selling, soliciting or negotiating limited line credit insurance aprogram of instruction that may be approved by the insurance commissioner.