§ 27-25-33. Licensing of insurance producers.
(a) Insurance producers of societies shall be licensed in accordance with the provisions of the laws regulating the licensing, revocation, suspension, or termination of license of resident and nonresident insurance producers.
(b) No examination or license shall be required of any regular salaried officer, employee, or member of a licensed society who devotes substantially all of his or her services to activities other than the solicitation of fraternal insurance contracts from the public, and who receives for the solicitation of the contracts no commission or other compensation directly dependent upon the amount of business obtained.
(c) Any insurance producer, representative, or member of a society who devotes, or intends to devote, less than fifty percent (50%) of his or her time to the solicitation and procurement of insurance contracts for the society or who was in the service of a society on January 1, 1985, shall be exempt from the requirements of subsection (a) of this section. Any person who in the preceding calendar year has solicited and procured life insurance contracts on behalf of any society in an amount of insurance in excess of fifty thousand dollars ($50,000) or, in the case of any other kind or kinds of insurance which the society might write, on the persons of more than twenty-five (25) individuals and who has received or will receive a commission or other compensation for those contracts, shall be presumed to be devoting, or intending to devote, fifty percent (50%) of his or her time to the solicitation or procurement of insurance contracts for the society.
History of Section.P.L. 1984, ch. 201, § 2.
Structure Rhode Island General Laws
Chapter 27-25 - Rhode Island Fraternal Code
Section 27-25-1. - Fraternal benefit societies.
Section 27-25-2. - Lodge system.
Section 27-25-3. - Representative form of government.
Section 27-25-4. - Definitions.
Section 27-25-5. - Purposes and powers.
Section 27-25-6. - Qualifications for membership.
Section 27-25-8. - No personal liability.
Section 27-25-10. - Organization.
Section 27-25-11. - Amendments to laws.
Section 27-25-12. - Institutions.
Section 27-25-13. - Reinsurance.
Section 27-25-14. - Consolidations and mergers.
Section 27-25-15. - Conversion of fraternal benefit society into mutual life insurance company.
Section 27-25-17. - Beneficiaries.
Section 27-25-18. - Benefits not attachable.
Section 27-25-19. - The benefit contract.
Section 27-25-21. - Investments.
Section 27-25-23. - Exemptions.
Section 27-25-25. - Valuation.
Section 27-25-27. - Annual license.
Section 27-25-28. - Examination of societies — No adverse publication.
Section 27-25-29. - Foreign or alien society — Admission.
Section 27-25-30. - Injunction — Liquidation — Receivership of domestic society.
Section 27-25-31. - Suspension, revocation, or refusal of license of foreign or alien society.
Section 27-25-32. - Injunction.
Section 27-25-33. - Licensing of insurance producers.
Section 27-25-34. - Unfair methods of competition and unfair and deceptive acts and practices.
Section 27-25-35. - Service of process.
Section 27-25-37. - Penalties.
Section 27-25-38. - Exemption of certain societies.
Section 27-25-39. - Reciprocal fees and charges.
Section 27-25-40. - Payments of commissions to other than agent or insurance producer forbidden.
Section 27-25-41. - Payment of benefits other than insurance benefits.
Section 27-25-42. - Severability.