(1) A person may apply to the Commission for an insurance intermediary’s licence in one of the following categories:

(a) Insurance broker;

(b) Insurance agent;

(c) Insurance sub-agent; or

(d) Insurance loss adjuster.

(2) An application under subsection (1) shall be in writing and shall

(a) State the category of licence for which the application is made,

(b) where the application is for a licence to act as an insurance broker or an insurance loss adjuster, state the type and the class of business in respect of which the applicant seeks to be authorized,

(c) contain the prescribed information and be in the prescribed form, and

(d) be accompanied with the prescribed documentation.

(3) An application for a licensee to act as an insurance agent or an Insurance sub-agent shall be supported by the insurer with which the applicant is or Will be contracted.

(4) The Commission may require an applicant under section 114-151 to furnish it with any other documentation or information it considers necessary to determine the application.

(5) The applicant shall pay a fee determined by the Commission for the licence.