1708-1712.5

INSURANCE CODE
SECTION 1708-1712.5




1708.  A licensee may at any time surrender for cancellation any
license under which he is permitted to act in any of the capacities
specified in this chapter. If the license is in the possession of the
licensee, surrender may be accomplished by the delivery of the
document itself to the commissioner. If the license is in the
possession of the insurer or the licensee's employer, the licensee
may nevertheless make such surrender by written notice thereof
delivered to the commissioner.



1710.  All licenses issued to natural persons terminate upon the
death of such person.



1711.  For the purposes of this chapter and except as provided in
this article, an organization ceases to exist as an entity eligible
to hold a license:
   (a) Upon dissolution of a copartnership or upon any change in
membership of a copartnership.
   (b) Upon the termination of an association.
   (c) Upon dissolution of a corporation.
   Provided, however, should a change occur in the membership of a
copartnership licensed under this chapter, the surviving or
continuing copartnership may continue to transact insurance under the
license issued to the predecessor copartnership until action is
taken by the commissioner on the application herein prescribed if the
following requirements are met:
   (1) The surviving or continuing copartnership within 30 days files
an application on a form prescribed by the commissioner for
registration of the change in membership, and pays the lawful fee
therefor and, if acting as an insurance broker, furnishes the bond
required under Article 5 (commencing with Section 1662).
   (2) At least one person who exercised the agency or brokership
powers of the predecessor copartnership continues to exercise the
agency or brokership powers of the surviving or continuing
copartnership.
   (3) That application for registration be signed by a general
partner.



1712.  The termination of the existence of the license entity as
provided in Section 1711, automatically terminates the right of that
entity to transact insurance thereunder; except that a natural
person, copartnership, association, or corporation licensed under
this article, may continue to transact insurance under an existing
license in either a different capacity or as a different organization
or entity if a natural person is named to exercise the agency or
brokerage powers of the license entity, and that natural person
remains eligible to be so named, and if no substantial change in
ownership and no change in control of the licensed insurance business
has taken place; provided, that within 30 days following the change
the person or the successor copartnership, association or corporation
files a properly completed and executed application in the form
prescribed by the commissioner for an appropriate license and pays
the lawful fees therefor.
   Nothing herein shall be construed to nullify any provision of
Section 1718 except that any fee paid as required by subdivisions (a)
or (b) of Section 1718 for a license not issued may be applied
towards the fee for filing an application under this section.




1712.5.  The license of an organization licensed as a fire and
casualty broker-agent or life agent shall become inoperative upon the
removal or termination of the last natural person named thereon, or
when the last natural person is no longer eligible to be named
thereon in accordance with Section 1647.
   Unless the license is reactivated by the correction of all
deficiencies including, if necessary, the adding of a natural person
to transact insurance under the authority of the organization's
license pursuant to Section 1661, the license shall not be renewed.