§431:9-211 Appointment, revocation, or termination of general agents and subagents. (a) Each insurer on appointing a general agent, and each general agent or domestic insurer on appointing a subagent in this State shall file written notice of the appointment in duplicate with the commissioner on forms as prescribed and furnished by the commissioner. If then licensed, or as soon as licensed, the commissioner shall mail one copy of the appointment to the licensee.
(b) Each appointment shall be effective when all parties to the appointment have signed the notice of appointment form. The appointment form shall be received by the commissioner within fifteen days after the signature of the last party. The effective date of the appointment shall be the date on which the last party signs the appointment form if the appointment form is received within the fifteen-day period. If the appointment form is not received within fifteen days, the effective date of the appointment shall be the date on which the commissioner receives the appointment form. The appointment shall continue in force until:
(1) The commissioner notifies the insurer that the person so appointed is no longer licensed as a general agent by this State;
(2) The commissioner notifies the general agent or domestic insurer that the person so appointed is no longer licensed as a subagent by this State;
(3) The appointment as general agent is:
(A) Revoked by the insurer by written notice of the revocation to the general agent; or
(B) Terminated by the general agent by written notice of the termination to the insurer; or
(4) The appointment as subagent is:
(A) Revoked by the general agent or domestic insurer by written notice of the revocation to the subagent; or
(B) Terminated by the subagent by written notice of the termination to the general agent or domestic insurer.
(c) A copy of the notice of revocation or termination shall be mailed or delivered to the commissioner by the person revoking or terminating the general agent or subagent and shall be received by the commissioner within fifteen days from the date a person revokes or terminates a general agent or subagent.
(d) Revocation or termination of an appointment by an insurer or a general agent shall be deemed to be effective as of the date designated in the notice as being the effective date if a copy of the notice of the revocation or termination is received by the commissioner within fifteen days of the date designated in the notice. If the notice of the revocation or termination is not received by the commissioner within fifteen days of the date designated in the notice, the effective date of the revocation or termination shall be the date on which the commissioner receives the notice. [L 1987, c 347, pt of §2; am L 1993, c 205, §16; am L 1997, c 234, §3; am L 1998, c 203, §2]