Massachusetts producer licensing, appointment, continuing education and discipline

What this document is

Massachusetts producer licensing, appointment, continuing education and discipline: M.G.L. c. 175, ss. 162-177E is a state statute published by malegislature.gov. It is one of the Massachusetts documents that insurance license exam questions are written from, including massachusetts life & health, massachusetts property & casualty, massachusetts personal lines practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• M.G.L. ch. 175 § 162S(a) (Producers acting as agents of insurers; appointment)

  “An insurance producer shall not act as an agent of an insurer unless the insurance producer becomes an appointed agent of that insurer. An insurance producer who is not acting as an agent of an insurer is not required to become appointed.”

• M.G.L. ch. 175 § 177 (Unlicensed persons; compensation; penalty)

  “No company and no officer, agent or employee thereof, and no duly licensed insurance producer, shall, directly or indirectly, pay or allow or offer or agree to pay or allow compensation or anything of value to any person, excepting an officer of a domestic company acting under section one hundred...”

• M.G.L. ch. 175 § 162R(e) (Enforcement after surrender or lapse of license)

  “The commissioner shall retain the authority to enforce the provisions of and impose any penalty or remedy authorized by sections 162H to 162X, inclusive, and chapter 176D against any person who is under investigation for or charged with a violation of sections 162H to 162X, inclusive, or chapter...”

• M.G.L. ch. 175 § 176 (Larceny by agent or broker; premium held in trust)

  “An insurance agent or broker who acts in negotiating or renewing or continuing a policy of insurance or an annuity or pure endowment contract issued by a company lawfully doing business in the commonwealth, and who receives any money or substitute for money as a premium for such a policy or...”

• M.G.L. ch. 175 § 162L(a) (Resident producer license; application requirements)

  “A person applying for a resident insurance producer license shall make application to the commissioner on the uniform application and declare under penalty of refusal, suspension or revocation of the license that the statements made in the application are true, correct and complete to the best of...”

• M.G.L. ch. 175 § 166B (Revocation; disposition of interest and employment by a producer)

  “No person whose license as an insurance producer has been revoked shall be allowed to thereafter own, manage, direct or be an employee of any insurance producer without the prior approval of the commissioner. The license of any insurance producer employing such a person or permitting such a person...”

• M.G.L. ch. 175 § 162R(e) (Enforcement authority retained after surrender or lapse)

  “(e) The commissioner shall retain the authority to enforce the provisions of and impose any penalty or remedy authorized by sections 162H to 162X, inclusive, and chapter 176D against any person who is under investigation for or charged with a violation of sections 162H to 162X, inclusive, or...”

• M.G.L. ch. 175 § 162M(c) (Reinstatement of a lapsed producer license)

  “(c) An individual insurance producer who allows his license to lapse may, within 12 months from the due date of the renewal fee, reinstate the same license without the necessity of passing a written examination, but a penalty in the amount of double the unpaid renewal fee shall be required for any...”

• M.G.L. ch. 175 § 176 (Larceny by agent or broker; premiums held in trust)

  “An insurance agent or broker who acts in negotiating or renewing or continuing a policy of insurance or an annuity or pure endowment contract issued by a company lawfully doing business in the commonwealth, and who receives any money or substitute for money as a premium for such a policy or...”

• M.G.L. ch. 175 § 162T(d)(1) (Notice to producer following termination of appointment)

  “(1) Within 15 days after making the notification required by subsections (a), (b) and (c), the insurer shall mail a copy of the notification to the producer at his last known address. If the producer is terminated for cause for any of the reasons listed in section 162R, the insurer shall provide a...”

• M.G.L. ch. 175 § 177E(C) (Continuing education; carry-forward of excess classroom hours)

  “C. Excess classroom hours accumulated during any one thirty-six month period may be carried forward to the next thirty-six month period.”

• M.G.L. ch. 175 § 162Q(b) (Temporary insurance producer license; limits, sponsor, revocation and termination)

  “The commissioner may by order revoke a temporary license if the interest of insureds or the public are endangered. A temporary license may not continue after the owner or the personal representative disposes of the business.”

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More Massachusetts sources

• M.G.L. Chapter 176D - Unfair Methods of Competition and Unfair and Deceptive Acts and Practices in the Business of Insurance (Secs. 1, 2, 3, 3A, 4, 5, 11)State statute
• Massachusetts accident and health / disability policy provisions: M.G.L. c. 175, ss. 108-108N, 110A-110M, 111State statute
• M.G.L. ch. 176D, Unfair Methods of Competition and Unfair and Deceptive Acts and Practices in the Business of Insurance (complete chapter)State statute
• Massachusetts insurance contract and general provisions applicable to all insurers: M.G.L. c. 175, ss. 2, 2A, 2B, 3, 181-194State statute
• Massachusetts group and blanket health insurance: M.G.L. c. 175, ss. 110, 110D, 110G, 110I, 110J, 110K, 110LState statute
• Massachusetts group life insurance: M.G.L. c. 175, ss. 133-138AState statute
• Massachusetts life insurance and annuity contracts, including standard policy provisions: M.G.L. c. 175, ss. 118-132A1/2, 139-146A, 149, 204State statute
• Massachusetts Life and Health Insurance Guaranty Association Law: M.G.L. c. 175, s. 146BState statute