Sec. 20. (a) As used in this section, "crop hail insurance" means insurance that is used only in the event of hail related disasters to growing farm crops.

(b) As used in this section, "multi-peril crop insurance" means insurance that is:

(1) used in the event of weather related disasters or insect infestations during the growing season; and

(2) guaranteed by the Federal Crop Insurance Corporation.

(c) To sell multi-peril crop insurance or crop hail insurance, a person must be licensed under this chapter.

(d) If, after a person is licensed under this chapter as an insurance producer, the person wants to limit the person's insurance business solely to the sale of:

(1) multi-peril crop insurance;

(2) crop hail insurance; or

(3) multi-peril crop insurance and crop hail insurance;

the person may request the commissioner to issue to the person a limited lines producer's license under this chapter.

(e) If the commissioner:

(1) receives a request from a person under subsection (d); and

(2) the person shows proof of having completed ten (10) hours of continuing education credit approved by the department;

the commissioner shall issue a limited lines producer's license to the person, subject to the provisions of this chapter relating to limited lines producer's licenses.

(f) A person issued a limited lines producer's license under subsection (e) may sell only:

(1) multi-peril crop insurance;

(2) crop hail insurance; or

(3) multi-peril crop insurance and crop hail insurance.

As added by P.L.132-2001, SEC.3.