(A) A producer's license is for an indefinite term and continues on a biennial basis on the last day of the licensee's month of birth unless revoked or suspended as long as the requirements of Section 38-43-106 are met.
(B) If the biennial appointment fee for a producer is not paid as provided in Section 38-43-80, the appointment must be canceled.
(C) A producer who allows his license to lapse for failure to comply with Section 38-43-106 may, within six months from the compliance deadline, reinstate the same license if continuing education requirements have been met by November first of the compliance period and a penalty fee set forth by regulation is paid.
(D) A licensed insurance producer who is unable to comply with license renewal procedures due to active military service or some other extenuating circumstance (e.g., a long-term medical disability) may request a waiver of those procedures. The producer also may request a waiver of any examination requirement or any other fine or sanction imposed for failure to comply with renewal procedures.