A licensed agent is charged with a felony unrelated to insurance. Under California Insurance Code Section 1729.2, the agent must notify the Commissioner:
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Answer & full 3-part explanation (select an option above, or peek)
Why A is correct
Section 1729.2 requires applicants and licensees to notify the commissioner in writing within 30 days of learning of any change in background information. Background information includes the filing of felony criminal charges in state or federal court, misdemeanor or felony convictions, administrative actions regarding a license, regulatory civil actions, and findings of fraud or breach of fiduciary duty. The 30-day clock begins when the licensee learns of the change, not when the license renews, and it applies to the filing of charges — a conviction is not required to trigger the duty.
Why the other options are wrong
- B) The notice must be sent within 30 days of learning of the change; waiting until renewal violates the statutory deadline even if the license is later renewed.
- C) The duty is triggered by the filing of felony charges, not only by a conviction; background information includes charges as well as convictions.
- D) There is no six-month window — the statute requires written notification within 30 days of the licensee learning of the change.
Memory hook
Charged, convicted, sued, or disciplined? Tell the Commissioner in writing within 30 days. Bad news does not keep.