§ 58-33-40. Appointment of agents.

357 words·~2 min read·/nc/chapter-58/58-33-40

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(a)Except as provided in subsection

(b)of this section, no individual who holds a valid insurance producer license issued by the Commissioner shall, either directly or for an insurance agency, solicit, negotiate, or otherwise act as an agent for an insurer by which the individual has not been appointed.

(b)Any insurer authorized to transact business in this State may appoint as its agent any individual who holds a valid insurance producer license issued by the Commissioner. To appoint an individual as its agent, the appointing insurer shall file, in a format approved by the Commissioner, a notice of appointment within 15 days after the date the first insurance application is submitted. The individual shall be authorized to act as an agent for the appointing insurer for the kinds of insurance for which the insurer is authorized in this State and for which the appointed insurance producer is licensed in this State, unless specifically limited. For purposes of determining the number of appointments for an insurance producer, there shall be one appointment for each line of authority for which the appointed insurance producer is licensed in this State, unless specifically limited.

(c)Repealed by Session Laws 2009-566, s. 9, effective August 28, 2009.

(d)Every insurer shall remit in a manner prescribed by the Commissioner the appointment fee specified in G.S. 58-33-125 for each appointed insurance producer.

(e)An appointment shall continue in effect as long as the appointed insurance producer is properly licensed and the appointing insurer is authorized to transact business in this State, unless the appointment is cancelled. Notice of the cancellation may be submitted to the Commissioner by either the appointing insurer or appointed insurance producer.

(f)Prior to April 1 of each year, every insurer shall remit in a manner prescribed by the Commissioner the renewal appointment fee specified in G.S. 58-33-125.

(g)Repealed by Session Laws 2022-46, s. 13(a), effective July 7, 2022.

(h)Repealed by Session Laws 2009-566, s. 9, effective August 28, 2009. (1987, c. 629, s. 1; 2001-203, s. 14; 2009-383, s. 3; 2009-566, ss. 7-9; 2022-46, s. 13(a); 2024-29, s. 6(b).)