Texas § IN.4002.003 - EXEMPTIONS FROM EXAMINATION REQUIREMENT

§ IN.4002.003. EXEMPTIONS FROM EXAMINATION REQUIREMENT

EXEMPTIONS FROM EXAMINATION REQUIREMENT. (a) The department may not require a person to take an examination under this chapter if the person is: (1) an applicant for the renewal of an unexpired license issued by the department; (2) an applicant whose license issued by the department expired less than one year before the date of the application, if the previous license was not denied, revoked, or suspended by the commissioner; (3) a partnership, corporation, or depository institution; (4) an applicant for a life, accident, and health license who is designated as a chartered life underwriter (CLU); (5) an applicant for a property and casualty license who is designated as a chartered property casualty underwriter (CPCU); (6) an applicant for a specialty license issued under Chapter 4055 ; (7) a nonresident individual who is exempt from the examination requirement under Chapter 4056 ; or (8) an applicant for a general life, accident, and health license or a life agent license who was authorized to solicit or procure insurance on behalf of a fraternal benefit society on September 1, 1999, if the applicant: (A) solicited or procured insurance on behalf of the fraternal benefit society for at least 24 months preceding September 1, 1999; and (B) does not, on or after September 1, 1999, solicit or procure: (i) insurance for any other insurer or a different fraternal benefit society; (ii) an insurance contract from anyone other than a person who is eligible for membership in the fraternal benefit society; or (iii) an interest-sensitive life insurance contract that exceeds $35,000 of coverage on an individual life, unless the applicant is designated as a "Fraternal Insurance Counselor" at the time the contract is solicited or procured. (b) A license to which the exemption authorized by Subsection (a)(9) applies must be held by the applicant in an individual capacity and is not transferable. Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005. Amended by: Acts 2007, 80th Leg., R.S., Ch. 548 (S.B. 1263 ), Sec. 2.19, eff. September 1, 2007. Acts 2021, 87th Leg., R.S., Ch. 355 (H.B. 4030 ), Sec. 14, eff. September 1, 2021.