North Carolina General Statutes 58-33-15. Restricted license for overseas military agents
Terms Used In North Carolina General Statutes 58-33-15
- Agent: means a person licensed to solicit applications for, or to negotiate a policy of, insurance. See North Carolina General Statutes 58-33-10
- Insurance: means any of the kinds of insurance in N. See North Carolina General Statutes 58-33-10
- License: means a document issued by the Commissioner authorizing a person to act as an insurance producer for the lines of authority specified in the document. See North Carolina General Statutes 58-33-10
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3
- United States: shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3
Notwithstanding any other provision of this Article, an individual may be licensed by the Commissioner as a foreign military sales agent to represent a life insurance company domiciled in this State, provided the agent represents the insurance company only in a foreign country or territory and either on a United States military installation or with United States military personnel. The Commissioner may, upon request of the insurance company on application forms furnished by the Commissioner and upon payment of the fee specified in N.C. Gen. Stat. § 58-33-125, issue to the applicant a restricted license which will be valid only for the representation of the insurance company in a foreign country or territory and either on a United States military installation or with United States military personnel. The insurance company shall certify to the Commissioner that the applicant has the necessary training to hold himself out as a life insurance agent, and that the insurance company is willing to be bound by the acts of the applicant within the scope of his employment. (1987, c. 629, s. 1; 1987 (Reg. Sess., 1988), c. 975, s. 9; 2022-46, s. 13(a).)