Bill Text: IL SB1758 | 2013-2014 | 98th General Assembly | Chaptered
Bill Title: Amends the Illinois Insurance Code. Provides that a license as an insurance producer shall not be required of a person selling or soliciting lines of insurance that are exempt from the definition of insurance in the provision of the Code concerning financial institutions. Includes credit life and credit accident and health insurance and other credit insurance policies approved or permitted by the Director of Insurance among the classes of insurance for which a person may obtain a limited lines producer license; makes a corresponding change concerning fees. Provides that 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. Effective immediately.
Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: (Passed) 2013-08-02 - Public Act . . . . . . . . . 98-0159 [SB1758 Detail]
Download: Illinois-2013-SB1758-Chaptered.html
| ||||
Public Act 098-0159 | ||||
| ||||
| ||||
AN ACT concerning insurance.
| ||||
Be it enacted by the People of the State of Illinois,
| ||||
represented in the General Assembly:
| ||||
Section 5. The Illinois Insurance Code is amended by | ||||
changing Sections 500-100 and 500-135 as follows:
| ||||
(215 ILCS 5/500-100)
| ||||
(Section scheduled to be repealed on January 1, 2017)
| ||||
Sec. 500-100. Limited lines producer license.
| ||||
(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
| ||||
license for one or more of the following classes:
| ||||
(1) insurance on baggage or limited travel health, | ||||
accident, or trip
cancellation
insurance sold in | ||||
connection with transportation provided by a common | ||||
carrier;
| ||||
(2) industrial life insurance, as defined in Section | ||||
228 of this Code;
| ||||
(3) industrial accident and health insurance, as | ||||
defined in
Section 368 of this
Code;
| ||||
(4) insurance issued by a company organized under the | ||||
Farm Mutual
Insurance Company Act of 1986;
| ||||
(5) legal expense insurance;
|
(6) enrollment of recipients of public aid or medicare | ||
in a health
maintenance
organization;
| ||
(7) a limited health care plan issued by an | ||
organization having a
certificate of
authority under the | ||
Limited Health Service Organization Act ; .
| ||
(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
| ||
organization, or limited health service organization | ||
appointing the limited
insurance
representative. The insurance | ||
company, health maintenance organization, or
limited health
| ||
service organization must pay the fee required by Section | ||
500-135.
| ||
(c) A limited lines producer may represent more than one | ||
insurance company,
health
maintenance organization, or limited | ||
health service organization.
| ||
(d) An applicant who has met the requirements of this | ||
Section shall be
issued a
perpetual limited lines producer | ||
license.
| ||
(e) A limited lines producer license shall remain in effect |
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
| ||
Section 500-70. Failure of the
insurance company to pay the | ||
license fee or to submit the required documents
shall cause
| ||
immediate termination of the limited line insurance producer | ||
license with
respect to which the
failure occurs.
| ||
(f) A limited lines producer license may be terminated by | ||
the insurance
company or
the licensee.
| ||
(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
| ||
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.
| ||
(h) A limited lines producer issued a license pursuant to | ||
this Section is
not
subject to
the requirements of Section |
500-30.
| ||
(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.
| ||
(Source: P.A. 92-386, eff. 1-1-02 .)
| ||
(215 ILCS 5/500-135)
| ||
(Section scheduled to be repealed on January 1, 2017)
| ||
Sec. 500-135. Fees.
| ||
(a) The fees required by this Article are as follows:
| ||
(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
| ||
producer
license;
| ||
(2) a fee of $50 for the issuance of a temporary | ||
insurance
producer
license;
| ||
(3) a fee of $150 payable once every 2 years for a | ||
business
entity;
| ||
(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;
| ||
(5) a $50 application fee for the processing of a |
request to
take the
written
examination for an insurance | ||
producer license;
| ||
(6) an annual registration fee of $1,000 for | ||
registration of
an
education provider;
| ||
(7) a certification fee of $50 for each certified
| ||
pre-licensing or
continuing
education course and an annual | ||
fee of $20 for renewing the
certification of
each such
| ||
course;
| ||
(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
| ||
limited line
license;
| ||
(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
| ||
500-100, a
car rental limited line license, or a | ||
self-service storage facility limited
line license;
| ||
(10) a fee of $50 payable once every 2 years for a | ||
self-service storage
facility limited line license.
| ||
(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
| ||
Administration Fund
may be used only for payment of the |
expenses of the Department in the
execution,
administration, | ||
and enforcement of the insurance laws of this State, and shall
| ||
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
| ||
this Article.
| ||
(Source: P.A. 95-331, eff. 8-21-07 .)
| ||
Section 99. Effective date. This Act takes effect upon | ||
becoming law.
|