Full Text of HB4015 99th General Assembly
HB4015enr 99TH GENERAL ASSEMBLY |
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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 500-100 as follows:
| 6 | | (215 ILCS 5/500-100)
| 7 | | (Text of Section before amendment by P.A. 98-1165 ) | 8 | | (Section scheduled to be repealed on January 1, 2017)
| 9 | | Sec. 500-100. Limited lines producer license.
| 10 | | (a) An individual who is at least 18 years of age and whom | 11 | | the Director
considers to
be competent, trustworthy, and of | 12 | | good business reputation may obtain a limited
lines producer
| 13 | | license for one or more of the following classes:
| 14 | | (1) insurance on baggage or limited travel health, | 15 | | accident, or trip
cancellation
insurance sold in | 16 | | connection with transportation provided by a common | 17 | | carrier;
| 18 | | (2) industrial life insurance, as defined in Section | 19 | | 228 of this Code;
| 20 | | (3) industrial accident and health insurance, as | 21 | | defined in
Section 368 of this
Code;
| 22 | | (4) insurance issued by a company organized under the | 23 | | Farm Mutual
Insurance Company Act of 1986;
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| 1 | | (5) legal expense insurance;
| 2 | | (6) enrollment of recipients of public aid or medicare | 3 | | in a health
maintenance
organization;
| 4 | | (7) a limited health care plan issued by an | 5 | | organization having a
certificate of
authority under the | 6 | | Limited Health Service Organization Act;
| 7 | | (8) credit life and credit accident and health | 8 | | insurance and other credit insurance policies approved or | 9 | | permitted by the Director; a credit insurance company must | 10 | | conduct a training program in which an applicant shall | 11 | | receive basic instruction about the credit insurance | 12 | | products that he or she will be selling. | 13 | | (b) The application for a limited lines producer license | 14 | | must be submitted
on a form
prescribed by the Director by a | 15 | | designee of the insurance company, health
maintenance
| 16 | | organization, or limited health service organization | 17 | | appointing the limited
insurance
representative. The insurance | 18 | | company, health maintenance organization, or
limited health
| 19 | | service organization must pay the fee required by Section | 20 | | 500-135.
| 21 | | (c) A limited lines producer may represent more than one | 22 | | insurance company,
health
maintenance organization, or limited | 23 | | health service organization.
| 24 | | (d) An applicant who has met the requirements of this | 25 | | Section shall be
issued a
perpetual limited lines producer | 26 | | license.
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| 1 | | (e) A limited lines producer license shall remain in effect | 2 | | as long as the
appointing
insurance company pays the respective | 3 | | fee required by Section 500-135 prior to
January 1 of
each | 4 | | year, unless the license is revoked or suspended pursuant to
| 5 | | Section 500-70. Failure of the
insurance company to pay the | 6 | | license fee or to submit the required documents
shall cause
| 7 | | immediate termination of the limited line insurance producer | 8 | | license with
respect to which the
failure occurs.
| 9 | | (f) A limited lines producer license may be terminated by | 10 | | the insurance
company or
the licensee.
| 11 | | (g) A person whom the Director considers to be competent, | 12 | | trustworthy, and
of
good
business reputation may be issued a | 13 | | car rental limited line license. A car
rental limited line
| 14 | | license for a rental company shall remain in effect as long as | 15 | | the car rental
limited line licensee
pays the respective fee | 16 | | required by Section 500-135 prior to the next fee date
unless | 17 | | the car rental
license is revoked or suspended pursuant to | 18 | | Section 500-70. Failure of the car
rental limited line
licensee | 19 | | to pay the license fee or to submit the required documents | 20 | | shall cause
immediate
suspension of the car rental limited line | 21 | | license. A car rental limited line
license for rental
companies | 22 | | may be voluntarily
terminated by the car rental limited line | 23 | | licensee. The license fee
shall not be refunded upon | 24 | | termination of the car rental limited line license
by the car | 25 | | rental
limited line licensee.
| 26 | | (g-5) A business entity may be issued a limited lines |
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| 1 | | producer license for credit life and credit accident and health | 2 | | insurance and other credit insurance policies approved or | 3 | | permitted by the Director, provided that: | 4 | | (1) application for the limited lines producer license | 5 | | for credit insurance is made on a form specified by the | 6 | | Director; | 7 | | (2) the appointing insurance company has paid the | 8 | | application fee amount required by the Director for the | 9 | | business entity's application; and | 10 | | (3) the business entity has designated an individual | 11 | | with an in force limited license producer license issued | 12 | | under paragraph (8) of subsection (a) of this Section to be | 13 | | responsible for the business entity's compliance with the | 14 | | insurance laws and regulations of this State related to | 15 | | credit life and credit accident and health insurance and | 16 | | other credit insurance policies approved or permitted by | 17 | | the Director that are offered or sold by that business | 18 | | entity. | 19 | | Except as specifically authorized by paragraph (8) of | 20 | | subsection (a) of this Section or this subsection (g-5), a | 21 | | business entity holding a limited lines license under this | 22 | | subsection (g-5) may not advertise, represent, or otherwise | 23 | | hold itself or any of its employees out as licensed insurers, | 24 | | insurance producers, insurance agents, or insurance brokers. | 25 | | (h) A limited lines producer issued a license pursuant to | 26 | | this Section is
not
subject to
the requirements of Section |
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| 1 | | 500-30.
| 2 | | (i) A limited lines producer license must contain the name, | 3 | | address and
personal
identification number of the licensee, the | 4 | | date the license was issued,
general conditions relative
to the | 5 | | license's expiration or termination, and any other information | 6 | | the
Director considers
proper. A limited line producer license, | 7 | | if applicable, must also contain the
name and address of
the | 8 | | appointing insurance company.
| 9 | | (Source: P.A. 98-159, eff. 8-2-13; 98-756, eff. 7-16-14.)
| 10 | | (Text of Section after amendment by P.A. 98-1165 ) | 11 | | (Section scheduled to be repealed on January 1, 2017)
| 12 | | Sec. 500-100. Limited lines producer license.
| 13 | | (a) An individual who is at least 18 years of age and whom | 14 | | the Director
considers to
be competent, trustworthy, and of | 15 | | good business reputation may obtain a limited
lines producer
| 16 | | license for one or more of the following classes:
| 17 | | (1) travel insurance, as defined in Section 500-10 of | 18 | | this Article;
| 19 | | (2) industrial life insurance, as defined in Section | 20 | | 228 of this Code;
| 21 | | (3) industrial accident and health insurance, as | 22 | | defined in
Section 368 of this
Code;
| 23 | | (4) insurance issued by a company organized under the | 24 | | Farm Mutual
Insurance Company Act of 1986;
| 25 | | (5) legal expense insurance;
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| 1 | | (6) enrollment of recipients of public aid or medicare | 2 | | in a health
maintenance
organization;
| 3 | | (7) a limited health care plan issued by an | 4 | | organization having a
certificate of
authority under the | 5 | | Limited Health Service Organization Act;
| 6 | | (8) credit life and credit accident and health | 7 | | insurance and other credit insurance policies approved or | 8 | | permitted by the Director; a credit insurance company must | 9 | | conduct a training program in which an applicant shall | 10 | | receive basic instruction about the credit insurance | 11 | | products that he or she will be selling. | 12 | | (b) The application for a limited lines producer license | 13 | | must be submitted
on a form
prescribed by the Director by a | 14 | | designee of the insurance company, health
maintenance
| 15 | | organization, or limited health service organization | 16 | | appointing the limited
insurance
representative. The insurance | 17 | | company, health maintenance organization, or
limited health
| 18 | | service organization must pay the fee required by Section | 19 | | 500-135.
| 20 | | (c) A limited lines producer may represent more than one | 21 | | insurance company,
health
maintenance organization, or limited | 22 | | health service organization.
| 23 | | (d) An applicant who has met the requirements of this | 24 | | Section shall be
issued a
perpetual limited lines producer | 25 | | license.
| 26 | | (e) A limited lines producer license shall remain in effect |
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| 1 | | as long as the
appointing
insurance company pays the respective | 2 | | fee required by Section 500-135 prior to
January 1 of
each | 3 | | year, unless the license is revoked or suspended pursuant to
| 4 | | Section 500-70. Failure of the
insurance company to pay the | 5 | | license fee or to submit the required documents
shall cause
| 6 | | immediate termination of the limited line insurance producer | 7 | | license with
respect to which the
failure occurs.
| 8 | | (f) A limited lines producer license may be terminated by | 9 | | the insurance
company or
the licensee.
| 10 | | (g) A person whom the Director considers to be competent, | 11 | | trustworthy, and
of
good
business reputation may be issued a | 12 | | car rental limited line license. A car
rental limited line
| 13 | | license for a rental company shall remain in effect as long as | 14 | | the car rental
limited line licensee
pays the respective fee | 15 | | required by Section 500-135 prior to the next fee date
unless | 16 | | the car rental
license is revoked or suspended pursuant to | 17 | | Section 500-70. Failure of the car
rental limited line
licensee | 18 | | to pay the license fee or to submit the required documents | 19 | | shall cause
immediate
suspension of the car rental limited line | 20 | | license. A car rental limited line
license for rental
companies | 21 | | may be voluntarily
terminated by the car rental limited line | 22 | | licensee. The license fee
shall not be refunded upon | 23 | | termination of the car rental limited line license
by the car | 24 | | rental
limited line licensee.
| 25 | | (g-5) A business entity may be issued a limited lines | 26 | | producer license for credit life and credit accident and health |
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| 1 | | insurance and other credit insurance policies approved or | 2 | | permitted by the Director, provided that: | 3 | | (1) application for the limited lines producer license | 4 | | for credit insurance is made on a form specified by the | 5 | | Director; | 6 | | (2) the appointing insurance company has paid the | 7 | | application fee amount required by the Director for the | 8 | | business entity's application; and | 9 | | (3) the business entity has designated an individual | 10 | | with an in force limited license producer license issued | 11 | | under paragraph (8) of subsection (a) of this Section to be | 12 | | responsible for the business entity's compliance with the | 13 | | insurance laws and regulations of this State related to | 14 | | credit life and credit accident and health insurance and | 15 | | other credit insurance policies approved or permitted by | 16 | | the Director that are offered or sold by that business | 17 | | entity. | 18 | | Except as specifically authorized by paragraph (8) of | 19 | | subsection (a) of this Section or this subsection (g-5), a | 20 | | business entity holding a limited lines license under this | 21 | | subsection (g-5) may not advertise, represent, or otherwise | 22 | | hold itself or any of its employees out as licensed insurers, | 23 | | insurance producers, insurance agents, or insurance brokers. | 24 | | (h) A limited lines producer issued a license pursuant to | 25 | | this Section is
not
subject to
the requirements of Section | 26 | | 500-30.
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| 1 | | (i) A limited lines producer license must contain the name, | 2 | | address and
personal
identification number of the licensee, the | 3 | | date the license was issued,
general conditions relative
to the | 4 | | license's expiration or termination, and any other information | 5 | | the
Director considers
proper. A limited line producer license, | 6 | | if applicable, must also contain the
name and address of
the | 7 | | appointing insurance company.
| 8 | | (Source: P.A. 98-159, eff. 8-2-13; 98-756, eff. 7-16-14; | 9 | | 98-1165, eff. 6-1-15.)
| 10 | | Section 95. No acceleration or delay. Where this Act makes | 11 | | changes in a statute that is represented in this Act by text | 12 | | that is not yet or no longer in effect (for example, a Section | 13 | | represented by multiple versions), the use of that text does | 14 | | not accelerate or delay the taking effect of (i) the changes | 15 | | made by this Act or (ii) provisions derived from any other | 16 | | Public Act.
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