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AL SB206
Bill
Status
1/23/2018
Primary Sponsor
Slade Blackwell
Click for details
AI Summary
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Requires insurance producers and service representatives to complete 24 hours of continuing education (including 3 hours on ethics) biennially as a mandatory condition for license renewal, eliminating previous provisions allowing extensions to renew licenses.
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Deletes the three-month extension option and removes provisions allowing licensees to renew after complying with continuing education requirements, making completion mandatory before renewal.
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Authorizes the Insurance Commissioner to impose civil fines up to $10,000 in lieu of license suspension for failure to meet continuing education requirements, at the commissioner's sole discretion.
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Maintains exemptions for certain license types including limited lines insurance, non-examination-required insurance, and newly licensed producers for the first 12 months.
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Becomes effective January 1, 2019.
Legislative Description
Insurance Dept, licensure of producers and service representatives, continuing education for renewals, civil penalties, provisions for extension deleted, Secs. 27-8A-1, 27-8A-2 am'd.
Insurance Department
Last Action
Read for the first time and referred to the Senate committee on Banking and Insurance
1/23/2018