State RegulationsNC specificDifficulty 2/5
A North Carolina resident producer asks when her producer license will expire. Which statement correctly reflects G.S. 58-33-26(l)?
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Answer & full 3-part explanation (select an option above, or peek)
Why D is correct
Under G.S. 58-33-26(l), a North Carolina producer license stays in force until it is suspended or revoked; there is no fixed expiration date. Ongoing compliance is maintained through continuing education and insurer appointments, and license fees are nonrefundable. North Carolina does not use the fixed renewal cycle common in other jurisdictions, so nothing about the license lapses merely with the passage of time.
Why the other options are wrong
- A) A two-year renewal cycle is the practice in many other jurisdictions; North Carolina producer licenses carry no fixed term.
- B) The March 31 expiration applies to business entity licenses under G.S. 58-33-26(j), not to individual producer licenses.
- C) Completing continuing education keeps the license in good standing under G.S. 58-33-130; it does not create an expiration point.
Memory hook
NC producer licenses never just expire - they last until suspended or revoked.