(a)  A person applying for a resident insurance producer license shall make application to the insurance commissioner on the uniform application and declare under penalty of refusal, suspension or revocation of the license that the statements made in the application are true, correct and complete to the best of the individual’s knowledge and belief. Before approving the application, the insurance commissioner shall find that the individual:

(1)  Is at least eighteen (18) years of age;

(2)  Has not committed any act that is a ground for denial, suspension or revocation set forth in § 27-2.4-14;

(3)  Has paid the fees set forth in § 27-2.4-4; and

(4)  Has successfully passed the examinations for the lines of authority for which the person has applied.

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(b)  A Rhode Island resident business entity acting as an insurance producer may elect to obtain an insurance producer license. Application shall be made using the uniform business entity application. Prior to approving the application, the commissioner shall find both of the following:

(1)  The business entity has paid the appropriate fees.

(2)  The business entity has designated a licensed producer responsible for the business entity’s compliance with the insurance laws and rules of this state.

(c)  The insurance commissioner may require any documents reasonably necessary to verify the information contained in an application.

(d)  Each insurer that sells, solicits or negotiates any form of limited line credit insurance shall provide to each individual whose duties will include selling, soliciting or negotiating limited line credit insurance a program of instruction that may be approved by the insurance commissioner.