(a) The commissioner may issue a temporary insurance producer license for a period not to exceed one hundred eighty (180) days without requiring an examination if the commissioner deems that the temporary license is necessary for the servicing of an insurance business in the following cases:
Terms Used In Tennessee Code 56-6-111
Business entity: means a corporation, association, partnership, limited liability company, limited liability partnership, or other legal entity. See Tennessee Code 56-6-102
Insurance producer: means a person required to be licensed under the laws of this state to sell, solicit or negotiate insurance. See Tennessee Code 56-6-102
Insurer: means any insurance company authorized to transact insurance business in this state. See Tennessee Code 56-6-102
License: means a document issued by this state's commissioner authorizing a person to act as an insurance producer for the lines of authority specified in the document. See Tennessee Code 56-6-102
Personal representative: when applied to those who represent a decedent, includes executors and administrators, unless the context implies heirs and distributees. See Tennessee Code 1-3-105
Representative: when applied to those who represent a decedent, includes executors and administrators, unless the context implies heirs and distributees. See Tennessee Code 1-3-105
United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
(1) To the surviving spouse or court-appointed personal representative of a licensed insurance producer who dies or becomes mentally or physically disabled to allow adequate time for the sale of the insurance business owned by the producer or for the recovery or return of the producer to the business or to provide for the training and licensing of new personnel to operate the producer’s business;(2) To a member or employee of a business entity licensed as an insurance producer, upon the death or disability of an individual designated in the business entity application or the license;(3) To the designee of a licensed insurance producer entering active service in the armed forces of the United States; or(4) In any other circumstance where the commissioner deems that the public interest will best be served by the issuance of this license.(b) The commissioner may by order limit the authority of any temporary licensee in any way deemed necessary to protect insureds and the public. The commissioner may require the temporary licensee to have a suitable sponsor who is a licensed producer or insurer and who assumes responsibility for all acts of the temporary licensee and may impose other similar requirements designed to protect insureds and the public. A temporary license issued under this part may also be suspended or revoked pursuant to § 56-6-112. A temporary license may not continue after the owner or the personal representative disposes of the business.
