Insurance Regulation
For how long is a business entity producer licence in New York renewed once it is in force?
Answer and explanation
Answer: B. Section 2103(j)(2) sets the business entity licence to expire on June thirtieth of an odd numbered year and to renew for twenty-four month periods, with an initial licence of up to thirty months. Twelve, eighteen and thirty-six month renewal terms are not what the subsection provides.Source: N.Y. Ins. Law § 2103 — § 2103(j)(2)
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