Oklahoma § 36-1435.12 - Temporary license without examination – Protection of

§ 36-1435.12. Temporary license without examination – Protection of

insureds and public.

A. The Insurance Commissioner may issue a temporary license for

a period not to exceed one hundred eighty (180) days without

requiring an examination if the Insurance Commissioner deems that

the temporary license is necessary for the servicing of an insurance

business in the following cases:

1. To the surviving spouse or court-appointed personal

representative of a licensed insurance producer who dies or becomes

mentally or physically disabled to allow adequate time for the sale

of the insurance business owned by the producer or for the recovery

or return of the producer to the business or to provide for the

training and licensing of new personnel to operate the producer's

business;

2. To a member or employee of a business entity licensed as an

insurance producer, upon the death or disability of an individual

designated in the business entity application or the license;

Oklahoma Statutes - Title 36. Insurance

3. To the designee of a licensed insurance producer entering

active service in the Armed Forces of the United States of America;

or

4. In any other circumstance in which the Insurance

Commissioner deems that the public interest will best be served by

the issuance of this license.

B. The Insurance Commissioner may by order limit the authority

of any temporary licensee in any way deemed necessary to protect

insureds and the public. The Insurance Commissioner may require the

temporary licensee to have a suitable sponsor who is a licensed

producer or insurer and who assumes responsibility for all acts of

the temporary licensee and may impose other similar requirements

designed to protect insureds and the public. The Insurance

Commissioner may by order revoke a temporary license if the interest

of insureds or the public are endangered. A temporary license may

not continue after the owner or the personal representative disposes

of the business. If the applicant fails to pass the licensure

examination, the temporary license shall terminate automatically.

C. As to a temporary agent's license issued because of the

death or disability of an agent, no insurers shall be represented by

the temporary licensee in addition to those represented by the

deceased or disabled agent.

D. The fee paid for the temporary license shall not be applied

upon the fee for any permanent license of the same category issued

to the licensee before expiration of the temporary license.

E. No license issued pursuant to the provisions of subsection A

of this section shall be effective for more than six (6) months.

The Commissioner, in his discretion, may renew the license once upon

proper application and for good cause. However, no temporary

license shall be issued for any line of insurance to any applicant

who has failed to pass the required examination.

Added by Laws 2001, c. 156, § 12, eff. Nov. 1, 2001.