§ 14052

(a) Every licensee who is required by this article to file a surety bond or a certificate of insurance shall at all times maintain on file the surety bond or certificate required by this article in full force and effect and shall maintain the names of all licensed insurance adjusters, employees, or qualified managers who may perform duties under that surety bond or certificate of insurance. If the licensee fails to maintain the surety bond or certificate or the names thereon, their license shall be immediately suspended and shall not be reinstated until an application therefor, in the form prescribed by the commissioner, is filed together with a proper surety bond or certificate.

(b) The commissioner may deny the application notwithstanding the applicant’s compliance with this section:

(1) For any reason that would justify a refusal to issue, or a suspension or revocation of, a license.

(2) For the performance by applicant of any practice while under suspension for failure to keep the bond or certificate in force, for which a license under this article is required.

(Amended by Stats. 2021, Ch. 627, Sec. 22. (AB 1511) Effective January 1, 2022.)