(1) No agent’s license shall be issued or valid unless the agent’s principal has given the department written authorization to issue the license.
(2) An agent’s license shall be automatically suspended during any period when he is not acting as an agent or the principal has withdrawn or cancelled the authorization.
(3) If his license has not expired, an agent may revive his license by giving notice to the department that he is again acting as an agent. If the agent represents a principal other than the one who gave the written authorization to issue the license, subsection (1) of this section applies.