(a) Any dealer for a mechanical breakdown insurance organization shall register its representatives with the commissioner by filing an application for registration stating the:
(i) Name and address of the registrant;
(ii) Registrant has been a resident of this state for at least thirty (30) days preceding the date of application;
(iii) Registrant is a trustworthy person with a good reputation; and (iv) Registrant is familiar with the benefits, costs, coverage and claims procedure of the mechanical breakdown insurance marketed by the dealer.
(b) The dealer shall pay a registration fee of ten dollars ($10.00) for each individual registered under this section.
(c) Upon payment of a renewal fee of ten dollars ($10.00), representative registrations are renewable on the first day of August of each year unless sooner suspended or revoked.
(d) Representative registrations may be suspended or revoked for those causes and subject to the procedure applicable to dealers under this chapter or to agents of insurers under this code.