Dealers and dealers' subsidiaries who are licensed as agents only shall not transact insurance, directly or indirectly, which is placed with an insurer unless, at the time of the transaction, there is on file with the commissioner a document executed by the insurer or its authorized representative appointing them its agent in this State.

History

1. Amendment filed 9-3-61; designated effective 1-1-62 (Register 61, No. 18).