Bill > SB0031

This bill amends Section 1204c of the Insurance Code of 1956 to provide for a continuing education credit carryover system for insurance producers who belong to a professional insurance association. The key provisions are: 1. After December 31, 2020, if an insurance producer is an active member of an approved professional insurance association, they will receive 4 hours of credit towards the 24 hours of continuing education required every 2 years. These 4 hours cannot count towards the 3 hours required in ethics classes. 2. The director must approve the professional insurance association, which must have been in existence for at least 5 years, was not formed solely for providing continuing education, and has provided its articles of incorporation. 3. The approved association must certify that the insurance producer maintained active membership, attended at least 50% of regular meetings, and attended a statewide meeting annually. 4. The director can refuse to approve, place on probation, or suspend/revoke approval of insurance education instructors for various reasons, such as violating insurance laws or demonstrating incompetence.