                                 CODE OF VIRGINIA

RENEWAL APPLICATION AND FEE; COMPLIANCE WITH CONTINUING EDUCATION REQUIREMENTS;
REINSTATEMENT; WAIVER (§ 38.2-1840)

A. Beginning January 1, 2021, each insurance consultant 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 insurance consultant&#8217;s month and year of
birth. The license for a consultant born in an even-numbered year shall expire
at the end of the consultant&#8217;s birth month in even-numbered years. The
license for a consultant born in an odd-numbered year shall expire at the end of
the consultant&#8217;s birth month in odd-numbered years. Any consultant 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 consultant license for which the renewal application and
nonrefundable renewal application processing fee have not been received by the
Commission shall automatically be terminated.

B. Each individual insurance consultant 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 insurance consultant&#8217;s license renewal. The insurance
consultant&#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
licensed as a consultant 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 consultant 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
consultant 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 processing fee shall be paid in a manner and in an
amount prescribed by the Commission. 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 insurance consultant 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 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. An individual insurance consultant 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. Insurance consultants 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, insurance consultants 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: 1985, c. 3, § 38.1-327.65; 1986, c. 562; 1987, cc. 521, 678; 1994, c.
316; 1999, c. 44; 2001, c. 706; 2019, c. 675.