2023 New York Laws › ISC - Insurance › Article 22 - Certification of Employees of Insurers and Savings Banks Offering Life Insurance › 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.