Section 27-2.4-14.1 - Appointments(a) An insurance producer shall not act as an agent of an insurer unless the insurance producer becomes an appointed agent of that insurer. An insurance producer who is not acting as an agent of an insurer is not required to become appointed.(b) To appoint a producer as its agent, the appointing insurer shall file, in a format approved by the insurance commissioner, a notice of appointment within fifteen (15) days from the date the first insurance application is submitted. An insurer may also elect to appoint a producer to all or some insurers within the insurer's holding company system or group by the filing of a single appointment request.(c) An insurer shall pay an appointment fee, in the amount and method of payment set forth in a regulation promulgated for that purpose, for each insurance producer appointed by the insurer.(d) An insurer shall remit, in a manner prescribed by the insurance commissioner, a renewal appointment fee in the amount set forth in a regulation promulgated for that purpose.R.I. Gen. Laws § 27-2.4-14.1
Added by 2024 Pub. Laws, ch. 318,§ 6, eff. 6/25/2024.Added by 2024 Pub. Laws, ch. 319,§ 6, eff. 6/25/2024.