33-7-526. Insurance producer license required -- penalty. (1) Insurance producers of societies shall be considered to be insurance producers and subject to the same licensing requirements as insurance producers under chapter 17 of this code, except that no examination is required of an individual lawfully licensed in this state as an insurance producer for a fraternal benefit society as to the kind of insurance to be transacted as of or immediately prior to October 1, 1981, and thereafter continuing to be so licensed.
     (2) No society doing business in this state shall pay any commission or other compensation to any person for any services in obtaining in this state any new contract of life, accident, or health insurance or any new annuity contract, except to a licensed insurance producer of such society.
     (3) Any person who in this state acts as insurance producer for a society without having authority so to do by virtue of a license issued and in force pursuant to the provisions of this chapter shall be guilty of a misdemeanor.

     History: En. Secs. 657, 658, Ch. 286, L. 1959; R.C.M. 1947, 40-5344(1), 40-5345; amd. Sec. 16, Ch. 303, L. 1981; amd. Sec. 1, Ch. 713, L. 1989.