(a) The continuing education requirements imposed under Chapter 4004 do not apply to a person who:
(1) holds a license issued under this chapter; and
(2) is in compliance with the continuing education requirements of the person's state of residence.
(b) A person who holds a license issued under this chapter and who does not hold an insurance agent's license in the person's state of residence shall comply with the continuing education requirements imposed under Chapter 4004.