1. (1) A producer is not eligible to sell, offer for sale, or make a recommendation to purchase or terminate a variable contract until the producer is licensed as a variable contract producer.

2. (2) A producer's variable contract license is not effective until the producer:

   1. (a) obtains a life insurance line of authority;
   2. (b) provides evidence that the producer passed the Financial Industry Regulatory Authority examinations series six or seven and 63; and
   3. (c) provides evidence of being Utah approved from the Financial Industry Regulatory Authority, Central Registration Depository.
3. (3) Notwithstanding Subsection (2), a nonresident producer may be licensed as a variable contract producer in this state upon providing evidence of being licensed as a variable contract producer in the resident state.

KEY: variable insurance

Date of Last Change: May 11, 2022

Notice of Continuation: December 8, 2021

Authorizing, and Implemented or Interpreted Law: 31A-2-201; 31A-20-106