6-1409. Effect of revocation, suspension or surrender on preexisting contracts; impairment of contracts

A. A revocation, suspension or surrender of any license does not impair or affect the obligation of any preexisting premium finance agreement between any licensee and insured.

B. If any provision of this article is amended or repealed in a manner that results in a cancellation of any license or right of a licensee to service premium finance agreements the cancellation does not impair or affect the obligation of any preexisting premium finance agreement between the licensee and the insured.