Bill > HB125

This bill amends Sections 27-8A-1 and 27-8A-2 of the Code of Alabama 1975 to modify the continuing education requirements for insurance producers and service representatives. The key provisions include: (1) requiring a minimum of 24 classroom hours of continuing education courses to be reported on a biennial basis for license renewal, with 3 hours on insurance producer ethics; (2) providing an exception for certain individuals such as those licensed only for limited lines insurance; (3) allowing a reduced 12-hour continuing education requirement for certain producers employed by their employer; (4) removing the provisions for the commissioner to grant extensions for complying with the continuing education requirements; and (5) allowing the commissioner to impose a civil fine of up to $10,000 instead of suspending a license for failure to meet the requirements.

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