375.025. Temporary license--to whom issued.
Temporary license--to whom issued.
375.025. 1. The director may issue a temporary insurance producerlicense for a period not to exceed ninety days without requiring anexamination if the director deems the temporary license is necessary forthe servicing of an insurance business in the following circumstances:
(1) To the surviving spouse or court-appointed personalrepresentative of a licensed insurance producer who dies or becomesmentally or physically disabled to allow adequate time for the sale of theinsurance business owned by the producer or to provide for the training andlicensing of new personnel to operate the business of the producer;
(2) To a member or employee of a business entity licensed as aninsurance producer, upon the death or disability of an individualdesignated in the business entity application or the license;
(3) To the designee of a licensed insurance producer entering activeservice in the armed forces of the United States; or
(4) In any other circumstance in which the director deems that thepublic interest will best be served by the issuance of the license.
2. The director may by order limit the authority of any temporarylicensee in any way deemed necessary to protect insureds and the public.The director may require the temporary licensee to have a suitable sponsorwho is a licensed producer or insurer and who assumes responsibility forall acts of the temporary licensee and may impose other similarrequirements designed to protect insureds and the public. The director mayrevoke a temporary license if the interests of insureds or the public areendangered. A temporary license may not continue after the owner or thepersonal representative disposes of the business.
(L. 1965 p. 569, A.L. 1983 S.B. 44 & 45, A.L. 2001 S.B. 193)Effective 1-01-03