License required; exemption for insurers; administrative fine.
1. A person shall not sell, solicit or negotiate insurance in this state for any class of insurance unless he is licensed for that class of insurance.
2. An insurer is exempt from the requirement for licensure as a producer of insurance, but this exemption does not extend to an insurer’s officers, directors, employees, subsidiaries or affiliates who sell, solicit or negotiate insurance.
3. A person required to be licensed in this state who transacts insurance without a license is subject to an administrative fine of not more that $1,000 for each violation.
Last modified: February 27, 2006