§ 2103. Insurance agents; licensing. (a) The superintendent may issue\na license to any person, firm or corporation who or which has complied\nwith the requirements of this chapter, authorizing such licensee to act\nas an insurance agent with respect to the lines of authority for life\ninsurance, variable life and variable annuity products, or accident and\nhealth insurance and sickness or any other line of authority deemed to\nbe similar by the superintendent, including for this purpose, health\nmaintenance organization contracts, legal services insurance or with\nrespect to any combination of the above, as specified in such license,\non behalf of any insurer, fraternal benefit society or health\nmaintenance organization, which is authorized to do such kind or kinds\nof insurance or health maintenance organization business in this state.\n (b) The superintendent may issue a license to any person, firm,\nassociation or corporation who or which has complied with the\nrequirements of this chapter, authorizing the licensee to act as agent\nof any authorized insurer, other than an insurer specified in subsection\n(b) of section two thousand one hundred fifteen of this article, with\nrespect to the lines of authority for accident and health or sickness,\nproperty, casualty, personal lines or any other line of authority\ngranted other than life, and variable life and variable annuity\nproducts, which such insurer is authorized to do in this state.\n (c) Any such license issued to a firm or association shall authorize\nonly the members thereof, named in such license as sub-licensees, to act\nindividually as agents thereunder, and any such license issued to a\ncorporation shall authorize only the officers and directors thereof,\nnamed in such license as sub-licensees, to act individually as agents\nthereunder. Every sub-licensee, acting as insurance agent pursuant to\nsuch a license shall be authorized so to act only in the name of the\nlicensee.\n (d) Every individual applicant for a license under this section and\nevery proposed sub-licensee shall be eighteen years of age or over at\nthe time of the issuance of such license.\n (e) Before any original insurance agent's license is issued there\nshall be on file in the office of the superintendent an application by\nthe prospective licensee in such form or forms and supplements, and\ncontaining information the superintendent prescribes and for each\nbusiness entity, the sub-licensee or sub-licensees named in the\napplication shall be designated responsible for the business entity's\ncompliance with the insurance laws, rules and regulations of this state.\n (f) (1) The superintendent shall, in order to determine the competency\nof every individual applicant and of every proposed sub-licensee to have\nthe kind of license applied for, require such individual to submit to a\npersonal written examination and to pass the same to the satisfaction of\nthe superintendent. Such examination shall be held at such times and\nplaces as the superintendent shall from time to time determine. Every\nindividual applying to take any written examination shall, at the time\nof applying therefor, pay to the superintendent, or, at the discretion\nof the superintendent, directly to any organization that is under\ncontract to provide examination services, an examination fee of an\namount which is the actual documented administrative cost of conducting\nsaid qualifying examination as certified by the superintendent from time\nto time. An examination fee represents an administrative expense and is\nnot refundable. The superintendent may accept, in lieu of any such\nexamination, the result of any previous written examination, given by\nthe superintendent, which in his judgment is equivalent to the\nexamination for which it is substituted.\n (2) The superintendent may from time to time make reasonable\nclassifications of the kinds of insurance and may prescribe the\nfollowing types of examinations:\n (A) For
‹ Prev All New York sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.