97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
SB2924

 

Introduced 2/1/2012, by Sen. William E. Brady

 

SYNOPSIS AS INTRODUCED:
 
215 ILCS 5/500-25

    Amends the Illinois Insurance Code. Makes a technical change in a Section concerning applications for the insurance producer examination.


LRB097 14906 RPM 59937 b

 

 

A BILL FOR

 

SB2924LRB097 14906 RPM 59937 b

1    AN ACT concerning regulation.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois Insurance Code is amended by
5changing Section 500-25 as follows:
 
6    (215 ILCS 5/500-25)
7    (Section scheduled to be repealed on January 1, 2017)
8    Sec. 500-25. Application for examination.
9    (a) A resident individual applying for an an insurance
10producer license must pass a written examination unless exempt
11pursuant to Section 500-45. Both part one and part 2 of the
12examination must be passed within 90 days of each other. The
13examination shall test the knowledge of the individual
14concerning the lines of authority for which application is
15made, the duties and responsibilities of an insurance producer,
16and the insurance laws and rules of this State. Examinations
17required by this Section must be developed and conducted under
18rules prescribed by the Director.
19    (b) The Director may make arrangements, including
20contracting with an outside testing service, for administering
21examinations and collecting the nonrefundable fee set forth in
22Section 500-135.
23    (c) An individual applying for an examination must remit a

 

 

SB2924- 2 -LRB097 14906 RPM 59937 b

1nonrefundable fee as prescribed by the Director as set forth in
2Section 500-135, plus a separate remittance payable to the
3designated testing service for the total fees the testing
4service charges for each of the various services being
5requested by the applicant.
6    (d) An individual who fails to appear for the examination
7as scheduled or fails to pass the examination, must reapply for
8an examination and remit all required fees and forms before
9being rescheduled for another examination.
10(Source: P.A. 92-386, eff. 1-1-02.)