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ME LD881
Bill
Status
Passed
6/3/2025
Primary Sponsor
Jennifer Poirier
Click for details
AI Summary
- Creates a new apprentice insurance producer license beginning January 1, 2026, allowing individuals to work as insurance producers without passing the licensing examination
- Apprentice license is valid for a maximum of 180 days, is non-renewable, and requires applicants to be at least 18 years old and Maine residents
- Apprentices must be employed and supervised by a licensed resident insurance producer (sponsor) who assumes all legal responsibility for the apprentice's actions
- Sponsors must have held a Maine producer license in good standing for at least one year with no restrictions, probation, or disciplinary requirements, and are limited to 2 active apprentices per calendar year
- Apprentices are prohibited from working on life insurance, long-term care insurance, annuities, or Affordable Care Act activities, and may only handle risks located in Maine
Legislative Description
An Act to Establish an Apprentice Insurance Producer License
Insurance Practices
Last Action
PASSED TO BE ENACTED, in concurrence.
6/3/2025
Committee Referrals
Health Coverage, Insurance and Financial Services3/4/2025
Full Bill Text
No bill text available