[§431:9A-114] Appointments. [Section effective July 1, 2002.] (a) An insurance producer shall not act as an agent of an insurer unless the insurance producer becomes an appointed agent of that insurer or is contracted with an insurance producer so appointed.

(b) To appoint a producer as its agent, the appointing insurer shall file, in a format approved by the commissioner, a notice of appointment within fifteen days from the date the agency or business entity contract is executed or the first insurance application is submitted to the insurer. An insurer may also elect to appoint a producer to all or some insurers within the insurer's holding company system or group by the filing with the commissioner of a single appointment notice.

(c) Upon receipt of the notice of appointment and within a reasonable time not to exceed thirty days, the commissioner shall verify that the insurance producer is eligible for appointment. If the insurance producer is determined to be ineligible for appointment, the commissioner shall notify the insurer within five days of its determination.

(d) An insurer shall pay an appointment fee, in the amount and method of payment set forth in article 7, for each insurance producer appointed by the insurer.

(e) An insurer shall remit, in a manner prescribed by the commissioner, a renewal appointment fee in the amount set forth in article 7. [L 2001, c 216, pt of §2]