Title 31A Chapter 23a Section 206

Insurance Code
Insurance Marketing - Licensing Producers, Consultants, and Reinsurance Intermediaries
Section 206
Special requirements for variable contracts line of authority.

            

31A-23a-206.   Special requirements for variable contracts line of authority.

            (1) Before applying for a variable contracts line of authority:

            (a) a producer shall be licensed under Section 61-1-3 as a:

            (i) broker-dealer; or

            (ii) broker-dealer agent; and

            (b) a consultant shall be licensed under Section 61-1-3 as an:

            (i) investment adviser; or

            (ii) investment adviser representative.

            (2) A producer's or consultant's variable contracts line of authority is revoked on the day the producer's or consultant's securities related license under Section 61-1-3 is no longer valid.


Amended by Chapter 253, 2012 General Session