(1) The commissioner may place an insurance producer on inactive status if the insurance producer enters active service in the armed forces of the United States.
(2) An insurance producer may not transact the business of insurance while on inactive status.
(3) The commissioner shall waive the continuing education requirements in 33-17-1205 and the fee in 33-2-708 while an insurance producer is on inactive status.
(4) In order to be placed on inactive status, an insurance producer shall notify the commissioner when called to active service.
(5) In order to be taken off inactive status, an insurance producer shall notify the commissioner when discharged from active service.