Inactive agent definition
Inactive agent means any licensed agent who presents evidence satisfactory to the commissioner which demonstrates that such agent will not do any act toward transacting the business of insurance for not less than two but not more than four years from the date such evidence is received by the commissioner.
Inactive agent means a licensed agent who presents evidence 2 satisfactory to the commissioner which demonstrates that such agent will 3 not do any act toward transacting the business of insurance for not less 4 than two but not more than six years from the date such evidence is 5 received by the commissioner. Such additional periods may be granted 6 by the commissioner upon further presentation of evidence satisfactory 7 to the commissioner. 8 (b) (1) Every licensed agent who is an individual and holds a property 9 or casualty qualification, or both, shall biennially obtain a minimum of 10 twelve C.E.C.'s in courses certified as property and casualty which, on 11 and after April 1, 1995, shall include at least one hour of instruction in 12 insurance ethics. No more than three C.E.C.'s shall be in insurance 13 agency management. 14 (2) Every licensed agent who is an individual and holds a life, accident 15 and health, or variable contracts qualification, or any combination thereof, 16 shall biennially complete twelve C.E.C.'s in courses certified as life, ac- 17 cident and health, or variable contracts which, on and after April 1, 1995, 18 shall include at least one hour of instruction in insurance ethics. No more 19 than three C.E.C.'s shall be in insurance agency management. 20 (3) Every licensed agent who is an individual and holds a crop only 21 qualification shall biennially obtain a minimum of two C.E.C.'s in courses 22 certified as crop under the property and casualty category. 23 (4) Every licensed agent who is an individual and is licensed only for 24 title insurance shall biennially obtain a minimum of four C.E.C.'s in 25 courses certified by the board of abstract examiners as title under the 26 property and casualty category. 27 (5) Every licensed agent who is an individual and holds a life insur- 28 ance license solely for the purpose of selling life insurance or annuity 29 products used to fund a prearranged funeral program and whose report 30 of compliance required by subsection (f) of this section is accompanied 31 by a certification from an officer of each insurance company represented 32 that the agent transacted no other insurance business during the period 33 covered by the report shall biennially obtain a minimum of two C.E.C.'s 34 in courses certified as life or variable contracts under the life, accident 35 and health, or variable contracts category. 36 (c) Individual agents who hold licenses with both a property or ca- 37 sualty qualification, or b...
Examples of Inactive agent in a sentence
Per Inactivity Transfer Rules, Inactive agent may be transferred without his/her current upline releasing signature; only the Inactive Agent is allowed to be transferred.