Jonathan is a licensed resident insurance producer whose biennial license renewal date is November 30. During the final months of his current compliance cycle, the following events occur:
- On October 5, he permanently moves his primary residence to a new address within his resident state.
- On October 20, a final administrative order is issued by a neighboring state's insurance department, revoking his non-resident producer license in that jurisdiction.
- As of November 1, Jonathan has completed a total of 24 hours of continuing education (CE), which consists of 23 hours of general CE and 1 hour of ethics CE.
Under standard state insurance regulations regarding license maintenance, which of the following statements are correct? (Select all that apply)
- He must formally notify his resident state's Department of Insurance of his change of address no later than November 4.Answer
- He must report the out-of-state administrative license revocation to his resident state's Commissioner no later than November 19.Answer
- CHe has successfully fulfilled his CE requirements for the current biennial compliance period because he has accumulated the mandatory minimum of 24 total hours.
- DHe is permitted to delay reporting the out-of-state administrative revocation until his November 30 renewal, provided he fully discloses the disciplinary action on his renewal application.