Section 340. Qualification to sell variable life insurance

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Article XI. Qualifications of Agents for the Sale of Variable Life Insurance

A. No person may sell or offer for sale in this Commonwealth any variable life insurance policy unless such person is currently licensed by the Commission as a life and health insurance agent, is authorized to represent the insurer through which the policy is offered and evidence has been filed with the Commission, in a form satisfactory to the Commission, that such person also holds any license or authorization which may be required by this Commonwealth or the federal government for the solicitation or sale of variable life insurance.

B. Any examination administered by the Commission for the purpose of determining the eligibility of any person for licensing as an agent shall, after June 15, 1992, include such questions concerning the history, purpose, regulation, and sale of variable life insurance as the Commission deems appropriate.

Historical Notes

Derived from Regulation 26, Case No. INS920077, Article XII, § 1, eff. June 15, 1992.

Statutory Authority

§§ 12.1-13 and 38.2-3313 of the Code of Virginia.

                    
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