Introduced Version






HOUSE BILL No. 1402

_____


DIGEST OF INTRODUCED BILL



Citations Affected: IC 27-1-15.7-4.

Synopsis: Insurance producer management courses. Specifies continuing education courses that must be approved by the commissioner of the department of insurance.

Effective: July 1, 2005.





Borders, Ripley




    January 13, 2005, read first time and referred to Committee on Insurance.







Introduced

First Regular Session 114th General Assembly (2005)


PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in this style type.
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HOUSE BILL No. 1402



    A BILL FOR AN ACT to amend the Indiana Code concerning insurance.

Be it enacted by the General Assembly of the State of Indiana:

SOURCE: IC 27-1-15.7-4; (05)IN1402.1.1. -->     SECTION 1. IC 27-1-15.7-4 IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2005]: Sec. 4. (a) The commissioner shall approve and disapprove continuing education courses after considering recommendations made by the insurance producer education and continuing education advisory council created under section 6 of this chapter.
    (b) The commissioner may not approve a course under this section if the course:
        (1) is designed to prepare an individual to receive an initial license under this chapter;
        (2) concerns only routine, basic office skills, including filing, keyboarding, and basic computer skills;
        (3) concerns sales promotion and sales techniques;
        (4) concerns motivation, psychology, or time management; or
        (5) may be completed by a licensee without supervision by an instructor, unless the course involves an examination process that is:
            (A) completed and passed by the licensee as determined by the provider of the course; and
            (B) approved by the commissioner.
     (c) The commissioner shall approve a course under this section that is submitted for approval by an insurance trade association if:
        (1) the objective of the course is to educate a manager or an owner of a business entity that is required to obtain an insurance producer license under IC 27-1-15.6-6(d);
        (2) the course teaches insurance producer management and is designed to result in improved efficiency in insurance producer operations, systems use, or key functions;
        (3) the course is designed to benefit consumers; and
        (4) the course is not described in subsection (b).

    (c) (d) Approval of a continuing education course under this section shall be for a period of not more than two (2) years.
    (d) (e) A prospective provider of a continuing education course shall pay:
        (1) a fee of forty dollars ($40) for each course submitted for approval of the commissioner under this section; or
        (2) an annual fee of five hundred dollars ($500) not later than January 1 of a calendar year, which entitles the prospective provider to submit an unlimited number of courses for approval of the commissioner under this section during the calendar year.
The commissioner may waive all or a portion of the fee for a course submitted under a reciprocity agreement with another state for the approval or disapproval of continuing education courses. Fees collected under this subsection shall be deposited in the department of insurance fund established under IC 27-1-3-28.
    (e) (f) The commissioner shall adopt rules under IC 4-22-2 to establish procedures for approving continuing education courses.