No person shall be an insurance agent, surveyor or broker in the following cases: (a) under sixteen years of age, (b) of unsound mind, (c) in debt to a creditor, in a marriage, ( d) He has been found guilty by the court of any kind of theft, fraud or misappropriation of money in his charge, or (e) He has done any act that causes loss or damage to the insurer or policyholder while working in insurance business.