N.Y. Insurance Law § 2203: Issuance and duration

§ 2203. Issuance and duration. (a) The superintendent shall issue to

the insurer or the savings bank, a certificate with respect to each such

applicant who has complied with the requirements of this article.

(b) Any certificate currently in force issued to an officer or

employee of a licensed insurer or of a savings bank shall be deemed

terminated as of August thirty-first, nineteen hundred ninety-five. On

or after July first, nineteen hundred ninety-five, all certificates

issued pursuant to this section shall be for a term of two years

expiring on June thirtieth of odd numbered years. Such certificates may

be issued for all of such two year terms, or, upon application made

during such term, for the balance thereof.

(b-1) Any certificate shall be considered in good standing within the

certificate term unless:

(1) revoked or suspended by the superintendent pursuant to this

article.

(2) all certificates have been terminated by the insurer or savings

bank employing the officer or employee, or the insurer employing such

officer or employee ceases to be licensed to do an insurance business in

this state, or the savings bank employing such officer or employee

ceases to be authorized to conduct the business of life insurance in

this state, at which time the certificate shall be terminated.

(3) if at the expiration date of the certificate term, provided the

certificate was in good standing during the term, the certified officer

or employee fails to file a renewal application.

(b-2) Before the renewal of any certificate shall be issued, the

following requirements shall be met:

(1) The certified officer or employee shall have filed a completed

renewal application in such form or forms and supplements thereto and

containing such information as the superintendent may prescribe.

(2) The certified officer or employee shall have paid such fees as are

prescribed in this section.

* (3) The certified officer or employee shall have met the same

requirements for continuing education as are required for the renewal of

an agent's license pursuant to section two thousand one hundred

thirty-two of this chapter for the types of insurance for which the

officer or employee is certified.

* NB Applicable only to certificate renewals on and after July 1,

1997.

(b-3) If an application for certificate renewal shall have been filed

with the superintendent before July first of the year of expiration, the

certificate sought to be renewed shall continue in full force and effect

either until the issuance by the superintendent of the renewal

certificate applied for or until five days after the superintendent

shall have refused to issue such renewal certificate and shall have

given notice of such refusal to the applicant. Before refusing to renew

any such certificate, except on the ground of failure to pass a written

examination, the superintendent shall notify the applicant of his

intention to do so and shall give such applicant the opportunity to

request a hearing.

(b-4) In addition to any examination fee required by paragraph one of

subsection (b) of section two thousand two hundred two of this article,

there shall be paid to the superintendent for each certificate applicant

the sum of twenty dollars for each year or fraction of a year in which a

certificate shall be valid. If, however, the certificate applicant

should withdraw the application or the superintendent should deny the

application before the certificate applied for is issued, the

superintendent may refund the fee paid by the applicant for the

certificate applied for with the exception of any examination fees

required pursuant to paragraph one of subsection (b) of section two

thousand two hundred two of this article.

(b-5) An application for the renewal of a certificate filed with the

superintendent after May first of the year in which the certificate

expires shall be subject to a further fee for late filing of five

dollars.

(c) The superintendent may require any certified officer or employee

of any insurer or savings bank to submit a new application at any time.