A. No individual operating under any license which has been revoked by the Insurance Commissioner shall have the right to apply for another license under this act within one (1) year from the effective date of such revocation, or, if judicial review of such revocation is sought, within one (1) year from the date of final court order or decree affirming the revocation. However, the Commissioner may authorize the application for another license under this act by such an individual prior to the end of the one-year period if the Commissioner finds that the individual meets the licensing requirements then in effect and if the Commissioner finds the circumstances for which the license was revoked no longer exists. The Commissioner shall not, however, grant a new license to any individual if he finds that the circumstances for which the previous license was revoked still exist or are likely to recur.

B. If a license as bail bondsman as to the same individual has been revoked at two separate times, the Commissioner may not thereafter grant or issue any license under this act as to such individual unless such individual can meet the licensing qualifications then in effect and if the Commissioner finds the circumstances for which the license was revoked no longer exists.

C. During the period of suspension, or after revocation of the license and prior to being issued a new license, the former licensee shall not engage in or attempt to profess to engage in any transaction or business for which a license is required under this act.

D. Upon suspension, revocation or refusal to renew or continue the license of a bail bondsman, the Commissioner may at the same time likewise suspend or revoke all other insurance agent licenses held by the licensee under the insurance laws of this state, if the Commissioner determines that such suspension or revocation is in the best interest of the public.

E. In case of the suspension or revocation of license of any bail bondsman, the license of any and all bail bondsmen who are members of a bail bond agency, whether incorporated or unincorporated, and who knowingly are parties to the act which formed the ground for the suspension or revocation may likewise be suspended or revoked for the same period as that of the offending bail bondsman; but this shall not prevent any bail bondsman, except the one whose license was first suspended or revoked or the bondsman member of the agency who was a knowing participant, from being licensed as a member of some other bail bond agency.

F. Though issued to a licensee, all certificates of licenses issued under this act are at all times the property of this state, and upon notice of any suspension, revocation, refusal to renew, expiration or other termination of the license, the licensee or other person having either the original or copy of the license shall promptly deliver the certificate of license or copy thereof to the Commissioner for cancellation.

G. As to any certificate of license lost, stolen or destroyed while in the possession of any such licensee or person, the Commissioner may accept in lieu of return of the certificate, the affidavit of the licensee or other person responsible for or involved in the safekeeping of such certificate, concerning the facts of such loss, theft or destruction. Willful falsification of any such affidavit shall, upon conviction, be subject to punishment as for perjury.

H. This section shall not be deemed to require the delivery to the Commissioner of any certificate of license which, as shown by specific date of expiration on the face of the license, has already expired, unless such delivery has been requested by the Commissioner.

Added by Laws 1984, c. 225, § 13, emerg. eff. May 23, 1984. Amended by Laws 1987, c. 211, § 14, eff. Nov. 1, 1987.