Senate Bill sb2526

    Florida Senate - 2006                                  SB 2526

    By Senator Posey





    24-1228-06

  1                      A bill to be entitled

  2         An act relating to the licensing of insurance

  3         agents; amending s. 626.171, F.S.; revising

  4         certain fingerprinting requirements; amending

  5         s. 626.7851, F.S.; revising the number of hours

  6         of classroom or correspondence courses in

  7         insurance which are required for licensure as a

  8         life agent; providing an effective date.

  9  

10  Be It Enacted by the Legislature of the State of Florida:

11  

12         Section 1.  Subsection (4) of section 626.171, Florida

13  Statutes, is amended to read:

14         626.171  Application for license as an agent, customer

15  representative, adjuster, service representative, managing

16  general agent, or reinsurance intermediary.--

17         (4)  An application for a license as an agent, customer

18  representative, adjuster, service representative, managing

19  general agent, or reinsurance intermediary must be accompanied

20  by a set of the individual applicant's fingerprints, or, if

21  the applicant is not an individual, by a set of the

22  fingerprints of the sole proprietor, majority owner, partners,

23  officers, and directors, on a form adopted by rule of the

24  department and accompanied by the fingerprint processing fee

25  set forth in s. 624.501. Fingerprints shall be used to

26  investigate the applicant's qualifications pursuant to s.

27  626.201. Fingerprints may The fingerprints shall be taken at

28  by a law enforcement agency or other department-approved

29  entity, and the fingerprints shall be available at all

30  designated examination centers.

31  

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    Florida Senate - 2006                                  SB 2526
    24-1228-06




 1         Section 2.  Section 626.7851, Florida Statutes, is

 2  amended to read:

 3         626.7851  Requirement as to knowledge, experience, or

 4  instruction.--No applicant for a license as a life agent,

 5  except for a chartered life underwriter (CLU), shall be

 6  qualified or licensed unless within the 4 years immediately

 7  preceding the date the application for a license is filed with

 8  the department he or she has:

 9         (1)  Successfully completed 20 40 hours of classroom

10  courses in insurance, 3 hours of which shall be on the subject

11  matter of ethics, satisfactory to the department at a school

12  or college, or extension division thereof, or other authorized

13  course of study, approved by the department. Courses must

14  include instruction on the subject matter of unauthorized

15  entities engaging in the business of insurance, to include the

16  Florida Nonprofit Multiple-Employer Welfare Arrangement Act

17  and the Employee Retirement Income Security Act, 29 U.S.C. ss.

18  1001 et seq., as it relates to the provision of life insurance

19  by employers to their employees and the regulation thereof;

20         (2)  Successfully completed the equivalent of 20 hours

21  of study via a correspondence course in insurance, 3 hours of

22  which shall be on the subject matter of ethics, satisfactory

23  to the department and regularly offered by accredited

24  institutions of higher learning in this state, approved by the

25  department. Courses must include instruction on the subject

26  matter of unauthorized entities engaging in the business of

27  insurance, to include the Florida Nonprofit Multiple-Employer

28  Welfare Arrangement Act and the Employee Retirement Income

29  Security Act, 29 U.S.C. ss. 1001 et seq., as it relates to the

30  provision of life insurance by employers to their employees

31  and the regulation thereof;

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    Florida Senate - 2006                                  SB 2526
    24-1228-06




 1         (3)  Held an active license in life, or life and

 2  health, insurance in another state.  This provision may not be

 3  utilized unless the other state grants reciprocal treatment to

 4  licensees formerly licensed in Florida; or

 5         (4)  Been employed by the department or office for at

 6  least 1 year, full time in life or life and health insurance

 7  regulatory matters and who was not terminated for cause, and

 8  application for examination is made within 90 days after the

 9  date of termination of his or her employment with the

10  department or office.

11         Section 3.  This act shall take effect January 1, 2007.

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14                          SENATE SUMMARY

15    Revises certain fingerprinting requirements. Revises the
      number of hours of classroom or correspondence courses in
16    insurance which are required for licensure as a life
      agent.
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CODING: Words stricken are deletions; words underlined are additions.