334.1. A person who is the holder of an insurance agent’s certificate may apply for membership in an approved professional association or corporation of agents or brokers. The person’s certificate is cancelled upon his becoming a member of the association or corporation and it must be returned to the Inspector General.
Similarly, a person who is a member of an approved professional association or corporation may apply for an insurance agent’s certificate. The issuance of the certificate terminates the person’s membership in the association or corporation and the instrument attesting his membership must be returned to the association or corporation.