(a) If the qualifying agent of a licensee ceases to perform the qualifying agent's duties on a regular basis, the licensee shall:
(1) Within thirty (30) days, notify the commissioner by certified or registered mail; and
(2) Within three (3) months, obtain a substitute qualifying agent.
(b) The commissioner may, in the commissioner's discretion, extend the period for obtaining a substitute qualifying agent for a reasonable time.
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