Section 27(27)(b) in Insurance Regulatory and Development Authority of India (Registration of Insurance Marketing Firm) Regulations, 2015
(b)ISP being on the rolls of the Insurance Marketing Firm for a continuous period of at least three years unless he cease to be an ISP of Insurance Marketing Firm due to death or fraud or resigned from the services of Insurance Marketing Firm subject to his resignation being approved by a committee of 3 persons nominated by the Life Insurance Council or the General Insurance Council.