Bill Text: MN SF2611 | 2011-2012 | 87th Legislature | Introduced
Bill Title: Insurance agents continuing education requirements regulation
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2012-04-24 - Referred to Commerce and Consumer Protection [SF2611 Detail]
Download: Minnesota-2011-SF2611-Introduced.html
1.2relating to commerce; regulating continuing education for insurance agents;
1.3amending Minnesota Statutes 2010, section 60K.56, subdivision 5.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. Minnesota Statutes 2010, section 60K.56, subdivision 5, is amended to read:
1.6 Subd. 5. Criteria for course accreditation. (a) The commissioner may accredit a
1.7course only to the extent it is designed to impart substantive and procedural knowledge of
1.8the insurance field. The burden of demonstrating that the course satisfies this requirement
1.9is on the individual or organization seeking accreditation. The commissioner is authorized
1.10to establish a procedure for renewal of course accreditation.
1.11(b) The commissioner shall approve or disapprove professional designation
1.12examinations that are recommended for approval by the advisory task force. In order
1.13for an insurance producer to receive full continuing education credit for a professional
1.14designation examination, the producer must pass the examination. A producer may
1.15not receive credit for classroom instruction preparing for the professional designation
1.16examination and also receive continuing education credit for passing the professional
1.17designation examination.
1.18(c) The commissioner shall approve continuing education coursework offered
1.19by accredited institutions of higher education that impart substantive and procedural
1.20knowledge of the insurance field. Continuing education courses offered by accredited
1.21institutions of higher education shall not be considered company sponsored courses unless
1.22coursework is restricted to producers of one company or its affiliates.
1.3amending Minnesota Statutes 2010, section 60K.56, subdivision 5.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. Minnesota Statutes 2010, section 60K.56, subdivision 5, is amended to read:
1.6 Subd. 5. Criteria for course accreditation. (a) The commissioner may accredit a
1.7course only to the extent it is designed to impart substantive and procedural knowledge of
1.8the insurance field. The burden of demonstrating that the course satisfies this requirement
1.9is on the individual or organization seeking accreditation. The commissioner is authorized
1.10to establish a procedure for renewal of course accreditation.
1.11(b) The commissioner shall approve or disapprove professional designation
1.12examinations that are recommended for approval by the advisory task force. In order
1.13for an insurance producer to receive full continuing education credit for a professional
1.14designation examination, the producer must pass the examination. A producer may
1.15not receive credit for classroom instruction preparing for the professional designation
1.16examination and also receive continuing education credit for passing the professional
1.17designation examination.
1.18(c) The commissioner shall approve continuing education coursework offered
1.19by accredited institutions of higher education that impart substantive and procedural
1.20knowledge of the insurance field. Continuing education courses offered by accredited
1.21institutions of higher education shall not be considered company sponsored courses unless
1.22coursework is restricted to producers of one company or its affiliates.
