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House Bill 1674

House Bill 1674

ARCHIVE (2001)

Latest Information

DIGEST OF HB1674 (Updated April 12, 2001 11:03 AM - DI 84)

Licensing of insurance producers. Repeals the current insurance agent licensure statute. Adds chapters concerning: (1) insurance producer licensing; (2) insurance producer license renewal; and (3) surplus lines producers. Specifies qualifications and procedures required for licensure of resident and nonresident insurance producers, including reciprocity requirements. Provides for temporary insurance producer licensure. Specifies circumstances in which the commissioner of the department of insurance may suspend, revoke, or refuse to issue or renew a license, including procedural requirements. Provides for insurer termination of a business relationship with a producer. Specifies requirements regarding notification to the commissioner of a termination, including immunity and confidentiality provisions. Contains provisions concerning licensure of insurance consultants, solicitors, fraternal benefit society representatives, and limited lines producers. Specifies actions of the commissioner with regard to a court order concerning child support obligations of a licensee. Provides for fee payment, and prelicensing and continuing education requirements. Establishes an insurance producer education and continuing education advisory council. Specifies requirements for maintaining a surplus lines producer's license. Makes conforming amendments.
Current Status:
Law Enacted
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