License required; exceptions; penalty.
1. Except as otherwise provided in subsection 2, no person may engage in the business of an insurance consultant unless a license has been issued to him by the Commissioner.
2. An insurance consultant’s license is not required for:
(a) An attorney licensed to practice law in this State who is acting in his professional capacity;
(b) A licensed insurance agent, broker or surplus lines broker;
(c) A trust officer of a bank who is acting in the normal course of his employment; or
(d) An actuary or a certified public accountant who provides information, recommendations, advice or services in his professional capacity.
3. A person required to be licensed in this State who acts as an insurance consultant without a license is subject to an administrative fine of not more than $1,000 for each act or violation.
Last modified: February 27, 2006