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Public Act 098-0159
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| SB1758 Enrolled | LRB098 08310 RPM 38415 b |
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AN ACT concerning insurance.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The Illinois Insurance Code is amended by |
changing Sections 500-100 and 500-135 as follows:
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(215 ILCS 5/500-100)
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(Section scheduled to be repealed on January 1, 2017)
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Sec. 500-100. Limited lines producer license.
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(a) An individual who is at least 18 years of age and whom |
the Director
considers to
be competent, trustworthy, and of |
good business reputation may obtain a limited
lines producer
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license for one or more of the following classes:
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(1) insurance on baggage or limited travel health, |
accident, or trip
cancellation
insurance sold in |
connection with transportation provided by a common |
carrier;
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(2) industrial life insurance, as defined in Section |
228 of this Code;
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(3) industrial accident and health insurance, as |
defined in
Section 368 of this
Code;
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(4) insurance issued by a company organized under the |
Farm Mutual
Insurance Company Act of 1986;
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(5) legal expense insurance;
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(6) enrollment of recipients of public aid or medicare |
in a health
maintenance
organization;
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(7) a limited health care plan issued by an |
organization having a
certificate of
authority under the |
Limited Health Service Organization Act; .
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(8) credit life and credit accident and health |
insurance and other credit insurance policies approved or |
permitted by the Director; a credit insurance company must |
conduct a training program in which an applicant shall |
receive basic instruction about the credit insurance |
products that they will be selling. |
(b) The application for a limited lines producer license |
must be submitted
on a form
prescribed by the Director by a |
designee of the insurance company, health
maintenance
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organization, or limited health service organization |
appointing the limited
insurance
representative. The insurance |
company, health maintenance organization, or
limited health
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service organization must pay the fee required by Section |
500-135.
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(c) A limited lines producer may represent more than one |
insurance company,
health
maintenance organization, or limited |
health service organization.
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(d) An applicant who has met the requirements of this |
Section shall be
issued a
perpetual limited lines producer |
license.
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(e) A limited lines producer license shall remain in effect |
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as long as the
appointing
insurance company pays the respective |
fee required by Section 500-135 prior to
January 1 of
each |
year, unless the license is revoked or suspended pursuant to
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Section 500-70. Failure of the
insurance company to pay the |
license fee or to submit the required documents
shall cause
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immediate termination of the limited line insurance producer |
license with
respect to which the
failure occurs.
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(f) A limited lines producer license may be terminated by |
the insurance
company or
the licensee.
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(g) A person whom the Director considers to be competent, |
trustworthy, and
of
good
business reputation may be issued a |
car rental limited line license. A car
rental limited line
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license for a rental company shall remain in effect as long as |
the car rental
limited line licensee
pays the respective fee |
required by Section 500-135 prior to the next fee date
unless |
the car rental
license is revoked or suspended pursuant to |
Section 500-70. Failure of the car
rental limited line
licensee |
to pay the license fee or to submit the required documents |
shall cause
immediate
suspension of the car rental limited line |
license. A car rental limited line
license for rental
companies |
may be voluntarily
terminated by the car rental limited line |
licensee. The license fee
shall not be refunded upon |
termination of the car rental limited line license
by the car |
rental
limited line licensee.
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(h) A limited lines producer issued a license pursuant to |
this Section is
not
subject to
the requirements of Section |
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500-30.
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(i) A limited lines producer license must contain the name, |
address and
personal
identification number of the licensee, the |
date the license was issued,
general conditions relative
to the |
license's expiration or termination, and any other information |
the
Director considers
proper. A limited line producer license, |
if applicable, must also contain the
name and address of
the |
appointing insurance company.
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(Source: P.A. 92-386, eff. 1-1-02.)
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(215 ILCS 5/500-135)
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(Section scheduled to be repealed on January 1, 2017)
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Sec. 500-135. Fees.
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(a) The fees required by this Article are as follows:
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(1) a fee of $180 for a person who is a resident of |
Illinois, and $250
for a person who is not a resident of |
Illinois, payable once every 2
years for an insurance
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producer
license;
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(2) a fee of $50 for the issuance of a temporary |
insurance
producer
license;
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(3) a fee of $150 payable once every 2 years for a |
business
entity;
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(4) an annual $50 fee for a limited
line producer |
license issued under items (1)
through (8) (7) of |
subsection (a) of Section 500-100;
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(5) a $50 application fee for the processing of a |
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request to
take the
written
examination for an insurance |
producer license;
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(6) an annual registration fee of $1,000 for |
registration of
an
education provider;
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(7) a certification fee of $50 for each certified
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pre-licensing or
continuing
education course and an annual |
fee of $20 for renewing the
certification of
each such
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course;
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(8) a fee of $180 for a person who is a resident of |
Illinois, and $250
for a person who is not a resident of |
Illinois, payable once every 2
years for a car rental
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limited line
license;
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(9) a fee of $200 payable once every 2 years for a |
limited
lines license
other
than the licenses issued under |
items (1) through (8) (7) of subsection (a) of
Section
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500-100, a
car rental limited line license, or a |
self-service storage facility limited
line license;
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(10) a fee of $50 payable once every 2 years for a |
self-service storage
facility limited line license.
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(b) Except as otherwise provided, all
fees paid to and |
collected by the Director under
this Section shall be paid |
promptly after receipt thereof, together with a
detailed |
statement of
such fees, into a special fund in the State |
Treasury to be known as the
Insurance Producer
Administration |
Fund. The moneys deposited into the Insurance Producer
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Administration Fund
may be used only for payment of the |
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expenses of the Department in the
execution,
administration, |
and enforcement of the insurance laws of this State, and shall
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be appropriated as
otherwise provided by law for the payment of |
those expenses with first priority
being any
expenses incident |
to or associated with the administration and enforcement of
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this Article.
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(Source: P.A. 95-331, eff. 8-21-07.)
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Section 99. Effective date. This Act takes effect upon |
becoming law.
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