CT SB00027

Adds one new voting board member position effective October 1, 2016: a retired insurance producer appointed by the Governor for a two-year term, increasing the board from eleven to twelve voting members.

Defines "retired insurance producer" as an individual who is no longer licensed as an insurance producer, was in good standing with the Insurance Department when the license was not renewed or cancelled, and has not held a license for at least one year before appointment.

Increases the quorum requirement from six to seven board members effective October 1, 2016, for conducting business and exercising the exchange's powers.

Specifies that the initial appointment deadline for the new retired insurance producer board member is October 1, 2016, while maintaining all other existing board member appointment procedures and term lengths.