[Until January 30, 2003, this section reads as follows:]

A license issued by the director or his designee pursuant to Chapter 5 of this title gives to the insurer obtaining it the right to appoint any number of agents to take risks or transact any business of insurance in the state. However, the director or his designee must be notified of the appointment before the agent takes any risk or transacts any business. The notification shall give the post office address and residence of the agent.

[From and after January 31, 2003, this section is entitled "Appointment of producers; notice of appointment; approval" and reads as follows:]

A license issued by the director or his designee pursuant to Chapter 5 of this title gives to the insurer obtaining it the right to appoint any number of producers to take risks or transact any business of insurance in the State. However, the director or his designee must approve the appointment before the producer takes any risk or transacts any business. The notification to the director or his designee shall give both the business address and residence addresses of the producer.