(1) An applicant for licensure under this section who is employed by a bail bond recovery agency may not obtain or renew a license unless the employer has on file with the department evidence of current workers' compensation coverage.
(2) The applicant's license may only be reinstated upon verification by the department of the reinstatement of the workers' compensation coverage and payment of the reinstatement fee required under Section 53-11-115.
(3) This section does not apply to contract employees.