§ 2203. Issuance and duration. (a) The superintendent shall issue to
the insurer or the savings bank, a certificate with respect to each such
applicant who has complied with the requirements of this article.

(b) Any certificate currently in force issued to an officer or
employee of a licensed insurer or of a savings bank shall be deemed
terminated as of August thirty-first, nineteen hundred ninety-five. On
or after July first, nineteen hundred ninety-five, all certificates
issued pursuant to this section shall be for a term of two years
expiring on June thirtieth of odd numbered years. Such certificates may
be issued for all of such two year terms, or, upon application made
during such term, for the balance thereof.

(b-1) Any certificate shall be considered in good standing within the
certificate term unless:

(1) revoked or suspended by the superintendent pursuant to this
article.

(2) all certificates have been terminated by the insurer or savings
bank employing the officer or employee, or the insurer employing such
officer or employee ceases to be licensed to do an insurance business in
this state, or the savings bank employing such officer or employee
ceases to be authorized to conduct the business of life insurance in
this state, at which time the certificate shall be terminated.

(3) if at the expiration date of the certificate term, provided the
certificate was in good standing during the term, the certified officer
or employee fails to file a renewal application.

(b-2) Before the renewal of any certificate shall be issued, the
following requirements shall be met:

(1) The certified officer or employee shall have filed a completed
renewal application in such form or forms and supplements thereto and
containing such information as the superintendent may prescribe.

(2) The certified officer or employee shall have paid such fees as are
prescribed in this section.

* (3) The certified officer or employee shall have met the same
requirements for continuing education as are required for the renewal of
an agent's license pursuant to section two thousand one hundred
thirty-two of this chapter for the types of insurance for which the
officer or employee is certified.

* NB Applicable only to certificate renewals on and after July 1,
1997.

(b-3) If an application for certificate renewal shall have been filed
with the superintendent before July first of the year of expiration, the
certificate sought to be renewed shall continue in full force and effect
either until the issuance by the superintendent of the renewal
certificate applied for or until five days after the superintendent
shall have refused to issue such renewal certificate and shall have
given notice of such refusal to the applicant. Before refusing to renew
any such certificate, except on the ground of failure to pass a written
examination, the superintendent shall notify the applicant of his
intention to do so and shall give such applicant the opportunity to
request a hearing.

(b-4) In addition to any examination fee required by paragraph one of
subsection (b) of section two thousand two hundred two of this article,
there shall be paid to the superintendent for each certificate applicant
the sum of twenty dollars for each year or fraction of a year in which a
certificate shall be valid. If, however, the certificate applicant
should withdraw the application or the superintendent should deny the
application before the certificate applied for is issued, the
superintendent may refund the fee paid by the applicant for the
certificate applied for with the exception of any examination fees
required pursuant to paragraph one of subsection (b) of section two
thousand two hundred two of this article.

(b-5) An application for the renewal of a certificate filed with the
superintendent after May first of the year in which the certificate
expires shall be subject to a further fee for late filing of five
dollars.

(c) The superintendent may require any certified officer or employee
of any insurer or savings bank to submit a new application at any time.