HB0241 102ND GENERAL ASSEMBLY

102ND GENERAL ASSEMBLY State of Illinois 2021 and 2022
HB0241

Introduced 1/29/2021, by Rep. Thaddeus Jones

SYNOPSIS AS INTRODUCED:

215 ILCS 5/500-30

Amends the Illinois Insurance Code to provide that pre-licensing course of study hours required to be completed in a classroom setting in order to obtain an insurance producer license may also be completed in a webinar setting. Effective immediately.

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A BILL FOR

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1 AN ACT concerning regulation.

2 Be it enacted by the People of the State of Illinois,

3 represented in the General Assembly:

4 Section 5. The Illinois Insurance Code is amended by

5 changing Section 500-30 as follows:

6 (215 ILCS 5/500-30)

7 (Section scheduled to be repealed on January 1, 2027)

8 Sec. 500-30. Application for license.

9 (a) An individual applying for a resident insurance

10 producer license must make application on a form specified by

11 the Director and declare under penalty of refusal, suspension,

12 or revocation of the license that the statements made in the

13 application are true, correct, and complete to the best of the

14 individual's knowledge and belief. Before approving the

15 application, the Director must find that the individual:

16 (1) is at least 18 years of age;

17 (2) is sufficiently rehabilitated in cases in which

18 the applicant has committed any act that is a ground for

19 denial, suspension, or revocation set forth in Section

20 500-70, other than convictions set forth in paragraph (6)

21 of subsection (a) of Section 500-70; with respect to

22 applicants with convictions set forth in paragraph (6) of

23 subsection (a) of Section 500-70, the Director shall

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1 determine in accordance with Section 500-76 that the

2 conviction will not impair the ability of the applicant to

3 engage in the position for which a license is sought;

4 (3) has completed, if required by the Director, a

5 pre-licensing course of study before the insurance exam

6 for the lines of authority for which the individual has

7 applied (an individual who successfully completes the Fire

8 and Casualty pre-licensing courses also meets the

9 requirements for Personal Lines-Property and Casualty);

10 (4) has paid the fees set forth in Section 500-135;

11 and

12 (5) has successfully passed the examinations for the

13 lines of authority for which the person has applied.

14 (b) A pre-licensing course of study for each class of

15 insurance for which an insurance producer license is requested

16 must be established in accordance with rules prescribed by the

17 Director and must consist of the following minimum hours:

18	`Class of Insurance`	`Number of`
19		`Hours`
20	`Life (Class 1(a))`	`20`
21	`Accident and Health (Class 1(b) or 2(a))`	`20`
22	`Fire (Class 3)`	`20`
23	`Casualty (Class 2)`	`20`
24	`Personal Lines-Property Casualty`	`20`
25	`Motor Vehicle (Class 2(b) or 3(e))`	`12.5`

26 7.5 hours of each pre-licensing course must be completed

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1 in a classroom or webinar setting, except Motor Vehicle, which

2 would require 5 hours in a classroom or webinar setting.

3 (c) A business entity acting as an insurance producer must

4 obtain an insurance producer license. Application must be made

5 using the Uniform Business Entity Application. Before

6 approving the application, the Director must find that:

7 (1) the business entity has paid the fees set forth in

8 Section 500-135; and

9 (2) the business entity has designated a licensed

10 producer responsible for the business entity's compliance

11 with the insurance laws and rules of this State.

12 (d) The Director may require any documents reasonably

13 necessary to verify the information contained in an

14 application.

15 (Source: P.A. 100-286, eff. 1-1-18.)

16 Section 99. Effective date. This Act takes effect upon

17 becoming law.