Title 33, Chapter 23, Section 26
( 33-23-26)
(a) Each insurer authorized to transact insurance in this state
shall obtain an agent's certificate of authority for each agent
representing such insurer in the solicitation of, negotiation for,
procurement of, or making of contracts of insurance in this state.
For the purposes of this subsection, the insurer will be deemed to
have obtained a certificate of authority for its designated agent
seven working days after the date of mailing of the request for such
certificate to the Commissioner by at least first-class mail;
provided, however, that the initial certificate of authority for an
applicant for licensure shall not become effective until the date
such applicant is finally granted a license by the Commissioner. (b) All agent's certificates of authority shall be renewed by the
insurer on or before January 1 of each year. (c) The fee for each agent's certificate of authority or renewal or duplicate thereof shall be as provided in Code Section 33-8-1. (d)(1) On or before January 1 of each year every insurer shall
file with the Commissioner in such form and manner as the
Commissioner may prescribe a certified listing of all of its
agents whose certificates of authority are to be renewed for the
coming year and shall remit payment to the Commissioner for the
appropriate fees. (2) Each insurer shall also be required to maintain and update
periodically its listing of authorized agents filed with the
Commissioner in such form and manner as may be prescribed by the
Commissioner. (e) If an agent's certificate of authority is terminated, the
insurer promptly shall give written notice of said termination and
the effective date of the termination to the Commissioner and to the
agent where reasonably possible. The Commissioner may also require
the insurer to demonstrate to the satisfaction of the Commissioner
that the insurer has made a reasonable effort to give notice to the
agent. (f) All notices of termination shall be filed with the Commissioner
in such form and manner as the Commissioner shall prescribe by rule
or regulation. |