- (a) Licenses which have not expired or which have not been suspended or revoked may be renewed upon request in writing of the agent.
- (b) Upon the filing of a request for renewal license, and payment of the renewal fee specified by §19.802 of this title (relating to Amounts of Fees), on or before the date of expiration, the current license shall continue in force until the renewal license is issued by the commissioner or until the commissioner has refused, for cause, to issue such renewal license as provided in the Insurance Code, Article 3.75, §19.709 of this title (relating to Denial, Suspension, or Revocation of Licenses), or other applicable law, and has given notice of such refusal in writing to the agent.
- (c) The appointment or appointments given under the Insurance Code, Article 3.75, §7, authorizing the agent to act as an agent for a legal reserve life insurance company or companies, shall continue in full force and effect, without the necessity of renewal, until terminated and withdrawn by the companies in accordance with these sections, or otherwise terminated in accordance with law, and each renewal license issued to the agent shall authorize him or her to represent and act for the companies for which he or she holds an appointment until the appointment is so terminated, and the agent shall prima facie be deemed, for the purpose of these sections, to be the agent of the appointing companies, provided that on or before April 1 of each calendar year, each such company so appointing such agent shall file with the commissioner a certificate certifying that such company desires to continue the appointment of such agent, and if such company shall for any reason fail to file such certificate for any year as relates to such agent, it shall be deemed and considered for all purposes that such company has terminated the appointment of such agent in like manner as if compliance has been made by such company with these sections.
Source Note:The provisions of this §19.706 adopted to be effective October 26, 1984, 9 TexReg 5385; amended to be effective March 23, 1992, 17 TexReg 1733.