HERBERT R. O'CONOR, GOVERNOR. 1107

himself in such a way as to indicate that he gives or is engaged
in the business of giving advice, counsel, recommendation or
information to holders of policies of insurance or annuity or
pure endowment contracts as an insurance adviser within the
meaning of this Section.

(4) The Insurance Commissioner may issue an insurance
adviser's license to any person who is a legal resident of this
State, hereinafter designated as licensee, who, is trustworthy
and competent to act as an insurance adviser in such manner
as not to jeopardize the public interest and who has complied
with the prerequisites herein prescribed.

(5) Before any such license or any renewal thereof shall be
issued by the Commissioner there shall be filed in his office a
written application therefor. Such application shall be in the
form or forms and supplements thereto prescribed by the Com-
missioner and shall contain such information as he may re-
quire.

(6) The Commissioner shall, in order to determine the trust-
worthiness and competency to act as an insurance adviser of
each individual applicant for such license, require every such
individual to take and pass, to the satisfaction of the Com-
missioner, a personal written examination. In the case of
application for renewal license, such examination shall not be
required, unless the Commissioner determines that such exami-
nation is necessary in order to determine the trustworthiness
or competency of such individual.

(7) At the time of application for every such license and for
every annual renewal thereof, there shall be paid to the Com-
missioner by each individual applicant a fee of one hundred
dollars.

(8) Every insurance adviser's license issued pursuant to
this Section shall be for a term expiring on the thirty-first day
of December next following the date of its issuance, and may
be renewed for the ensuing calendar year upon the filing of an
application in conformity with Sub-section five. If an appli-
cation for a renewal license shall have been filed with the Com-
missioner before January first of the ensuing year, the license
sought to be renewed shall continue in full force and effect
either until the issuance by the Commissioner of the renewal
license applied for or until five days after the Commissioner
shall have refused to issue such renewal license and shall have
given notice by registered mail of such refusal to the applicant,
and to all proposed sub-licensees named in such application.
If such refusal is based on any grounds other than failure to
pass a written examination and if the applicant shall within
thirty days after such notice is given notify tie Commissioner
of his or its request for a hearing on such refusal, the Commis-
sioner shall within a reasonable time after receipt of such