(1) A sworn application for a license under this chapter shall be filed with the Mississippi Insurance Department on forms prescribed and furnished by the department.
(2) Portable electronics insurance producer licenses issued pursuant to this chapter shall continue from the date of issuance until December 31 in the second year following issuance or renewal of the license, with a minimum term of thirteen (13) months.
(3) Each vendor of portable electronics licensed under this chapter shall pay to the Mississippi Insurance Department a fee of Five Thousand Dollars ($5,000.00).
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