(1) Before applying for a variable contracts line of authority: (a) a producer shall be licensed under Section 61-1-3 as a: (i) broker-dealer; or (ii) broker-dealer agent; and (b) a consultant shall be licensed under Section 61-1-3 as an: (i) investment adviser; or (ii) investment adviser representative.
(a) a producer shall be licensed under Section 61-1-3 as a: (i) broker-dealer; or (ii) broker-dealer agent; and
(i) broker-dealer; or
(ii) broker-dealer agent; and
(b) a consultant shall be licensed under Section 61-1-3 as an: (i) investment adviser; or (ii) investment adviser representative.
(i) investment adviser; or
(ii) investment adviser representative.
(2) A producer's or consultant's variable contracts line of authority is canceled on the day the producer's or consultant's securities related license under Section 61-1-3 is no longer active.
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