Regulations Governing Insurance Brokers Article 15

When a broker employed by a broker company or a bank leaves work, the broker company or the bank shall, within fifteen (15) days after the broker departs, report to the competent authority and surrender the practice license of the departed broker, and report same to the insurance brokerage association for recordation.When a broker company and a bank employs an additional broker or changes a broker, and such new broker already has a practice license, the broker company and bank shall report to the brokerage association for recordation within seven days after employing the additional broker or changing the broker.The brokerage association shall prescribe directions for the reporting operation under the two preceding paragraphs.