Okla. Stat. tit. 36, § 36-1435.12
This is the official text of Okla. Stat. tit. 36, § 36-1435.12, part of Oklahoma’s Stat. tit. 36, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 36,." Browse the sections below, each linked to its official government source.
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Temporary license without examination – Protection of
Official statutory text
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 Page 343
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.
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 Page 343
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.
Status: in_force · Read it on the official government site
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