Section 27-7-41


Published: 2015

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Section 27-7-41

Section 27-7-41Validity of certain licenses, appointments.

(a) Every agent, broker, and solicitor license in force immediately prior to January 1, 2002, and existing under any law repealed or amended by Act 2001-702, is valid until its original expiration date, unless earlier terminated in accordance with applicable law. Upon the first renewal under Act 2001-702, the respective licenses shall be replaced by a producer license in a form as provided by Act 2001-702, and shall thereafter be subject to continuation, suspension, revocation, or termination as though originally issued under Act 2001-702.



(b) Any agent appointment in place immediately prior to January 1, 2002, and existing under any law repealed or amended by Act 2001-702 is valid until its original expiration date, unless earlier terminated in accordance with applicable law. Upon the first renewal under Act 2001-702, the agent appointment shall be replaced by a producer appointment in a form as provided by Act 2001-702, and shall thereafter be subject to continuation or termination as though originally issued under Act 2001-702 as follows:



(1) A life agent appointment shall be replaced with a life producer appointment.



(2) A disability agent appointment shall be replaced with an accident and health or sickness, commonly known as disability, producer appointment.



(3) A credit life agent appointment shall be replaced with a credit producer appointment.



(4) A credit disability agent appointment shall be replaced with a credit producer appointment.



(5) A variable annuities agent appointment shall be replaced with a variable life and variable annuity products producer appointment.



(6) A comprehensive property, casualty, and surety agent appointment shall be replaced with a property and a casualty producer appointment.



(7) An automobile, full coverage, agent appointment shall be replaced with an automobile producer appointment.



(8) An industrial fire, commonly known as debit fire, agent appointment shall be replaced with an industrial fire, commonly known as debit fire, producer appointment.



(9) A bail bond agent appointment shall be replaced with a bail bond producer appointment.



(10) A physical damage on household goods agent appointment shall be replaced with a credit producer appointment.



(11) An automobile physical damage only agent appointment shall be replaced with a credit producer appointment.



(12) A credit property and casualty agent appointment shall be replaced with a credit producer appointment.



(13) A rental vehicle agent appointment shall be replaced with a rental vehicle producer appointment.



(c) Every service representative license in force immediately prior to January 1, 2002, and existing under any law repealed or amended by Act 2001-702 is valid until its original expiration date, unless earlier terminated in accordance with applicable law. Upon the first renewal under Act 2001-702, the respective licenses shall be replaced by a service representative license in a form as provided by Act 2001-702, and shall thereafter be subject to continuation, suspension, revocation, or termination as though originally issued under Act 2001-702.



(d) Any service representative appointment in place immediately prior to January 1, 2002, and existing under any law repealed or amended by Act 2001-702 is valid until its original expiration date, unless earlier terminated in accordance with applicable law. Upon the first renewal under Act 2001-702, the service representative appointment shall be replaced by a service representative appointment in a form as provided by Act 2001-702, and shall thereafter be subject to continuation or termination as though originally issued under Act 2001-702, as follows:



(1) A comprehensive property, casualty, and surety service representative appointment shall be replaced with a property and a casualty service representative appointment.



(2) An automobile, full coverage, service representative appointment shall be replaced with an automobile service representative appointment.



(3) An industrial fire, commonly known as debit fire, service representative appointment shall be replaced with an industrial fire, commonly known as debit fire, service representative appointment.



(4) A bail bond service representative appointment shall be replaced with a bail bond service representative appointment.



(5) A physical damage on household goods service representative appointment shall be replaced with a credit service representative appointment.



(6) An automobile physical damage only service representative appointment shall be replaced with a credit service representative appointment.

(Act 2001-702, p. 1509, §17.)