Upon suspension, revocation, or termination of your license, what must you do with your license?

Upon suspension, revocation, or termination of your license, what must you do with your license?

• A. Burn it
• B. Return it in person or by mail to the Commissioner
• C. Keep it indefinitely
• D. Destroy it at a local police station

Answer: (B)

When a license is suspended, revoked, or terminated, the appropriate action is to return it in person or by mail to the Commissioner. This requirement is in place to ensure that the regulatory authority maintains accurate records and can effectively monitor the licensing status of individuals. Returning the license signals that the individual is no longer authorized to conduct insurance business and helps in preventing any potential fraudulent activity that could arise if an invalid license were to be misused. The process of returning the license can also be part of maintaining compliance with the state's regulations and legal obligations, ensuring that the insurance marketplace remains fair and well-regulated. Knowing how to properly address license changes reinforces the importance of adhering to state regulatory requirements for all insurance professionals.

When a license is suspended, revoked, or terminated, the appropriate action is to return it in person or by mail to the Commissioner. This requirement is in place to ensure that the regulatory authority maintains accurate records and can effectively monitor the licensing status of individuals. Returning the license signals that the individual is no longer authorized to conduct insurance business and helps in preventing any potential fraudulent activity that could arise if an invalid license were to be misused.

The process of returning the license can also be part of maintaining compliance with the state's regulations and legal obligations, ensuring that the insurance marketplace remains fair and well-regulated. Knowing how to properly address license changes reinforces the importance of adhering to state regulatory requirements for all insurance professionals.