person shall be licensed as an insurance broker to represent citizens of this
State for the placing of insurance unless such person, at the time the initial
or renewal application is made for an insurance broker's license, possesses a
valid, current insurance agent's license for that line of business for which
the brokerage authority is intended to apply, and has been so licensed as such
an insurance agent for not less than two (2) years.
2. Every broker's license issued shall be
restricted to those lines of business for which specific application is made
and must be supported by record of prior issuance of agent's license for such
lines of business. The limits of authority of all broker's licenses shall be
plainly set forth on the face of the license.