                                 CODE OF VIRGINIA

RENEWAL APPLICATION AND FEE; COMPLIANCE WITH CONTINUING EDUCATION REQUIREMENTS;
REINSTATEMENT; WAIVER (§ 38.2-1825.1)

A. Beginning January 1, 2021, each individual agent shall submit biennially to
the Commission a renewal application in a form and manner prescribed by the
Commission, along with a nonrefundable renewal application processing fee
prescribed by the Commission, for the renewal of the license. Licenses shall be
renewed biennially based on the agent&#8217;s month and year of birth. The
license for an agent born in an even-numbered year shall expire at the end of
the agent&#8217;s birth month in even-numbered years. The license for an agent
born in an odd-numbered year shall expire at the end of the agent&#8217;s birth
month in odd-numbered years. Any license for which the renewal application and
nonrefundable renewal application processing fee have been received by the
Commission and all other applicable licensing and renewal provisions in this
chapter have been met shall, unless the license has been terminated, suspended,
or revoked, be renewed for a two-year period. Any license for which the renewal
application and nonrefundable renewal application processing fee have not been
received by the Commission in the manner prescribed by the Commission shall
automatically be terminated.

B. Each individual agent who is not exempt under &#xA7; 38.2-1871 shall submit
to the Virginia Insurance Continuing Education Board or its administrator proof
of compliance with the continuing education requirements set forth in Article 7
(&#xA7; 38.2-1866 et seq.) on a biennial basis in conjunction with the
agent&#8217;s license renewal. The agent&#8217;s license shall not be renewed if
the agent has failed to satisfy the applicable continuing education
requirements.

C. On or before May 1, 2021, and biennially thereafter, each business entity
shall submit to the Commission a renewal application, along with a nonrefundable
renewal application processing fee prescribed by the Commission, for the renewal
of the license. Any license for which the renewal application and nonrefundable
renewal application processing fee have been received by the Commission and all
other applicable licensing and renewal provisions in this chapter have been met
shall, unless the license has been terminated, suspended, or revoked, be renewed
for a two-year period. Any license for which the renewal application and
nonrefundable renewal application processing fee have not been received by the
Commission shall automatically be terminated.

D. The nonrefundable renewal application processing fee shall be paid in a
manner and in an amount prescribed by the Commission. The prescribed
nonrefundable renewal application processing fee shall not be less than $10 nor
more than $20 per line of authority. All fees shall be collected by the
Commission and paid directly into the state treasury and credited to the fund
for the maintenance of the Bureau of Insurance as provided in subsection B of
&#xA7; 38.2-400.

E. An individual agent whose license terminates due to failure to renew may,
within 12 months from the renewal date, reinstate the same license without the
necessity of passing a prelicensing written examination by:

   1. Submitting a renewal application;

   2. Submitting a nonrefundable reinstatement processing fee equivalent to
   double the nonrefundable renewal application processing fee; and

   3. Satisfying the relevant continuing education requirements.

F. A licensed agent who is unable to comply with the license renewal
requirements due to military service or another extenuating circumstance such as
a long-term illness or incapacity may request a waiver of those requirements.
Requests for waivers of renewal requirements shall be made in a form and manner
prescribed by the Commission. Agents seeking a waiver of renewal requirements
shall submit all documentation specified by the Commission so as to be received
by the Commission no later than the last day of the renewal period. After the
renewal period, agents who have failed to complete the renewal waiver
requirements may request a waiver from the reinstatement requirements set forth
in subdivisions E 1 and 2 within the 12-month reinstatement period. The
Commission shall approve or disapprove the waiver request within 30 calendar
days of receipt thereof and shall provide written notice of its decision to the
applicant for waiver within five calendar days of rendering its decision. Any
waiver granted pursuant to this section shall be valid only for the renewal
period or reinstatement period for which the waiver request was made.

HISTORY: 2019, c. 675.