Bill Text: NY A05922 | 2019-2020 | General Assembly | Introduced

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Bill Title: Relates to authorizing the superintendent of financial services to grant three credit hours of continuing education for a licensees' active membership in a statewide professional insurance producer association.

Spectrum: Partisan Bill (Democrat 4-0)

Status: (Vetoed) 2019-11-25 - VETOED MEMO.162 [A05922 Detail]

Download: New_York-2019-A05922-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          5922
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                    February 20, 2019
                                       ___________
        Introduced by M. of A. HUNTER -- read once and referred to the Committee
          on Insurance
        AN  ACT  to  amend  the  insurance  law,  in relation to the granting of
          continuing  education  credits  by  the  superintendent  of  financial
          services
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Subsection (c) of section 2132  of  the  insurance  law  is
     2  amended by adding a new paragraph 4 to read as follows:
     3    (4) The superintendent shall grant three credit hours for a licensees'
     4  active membership in a statewide professional insurance producer associ-
     5  ation, per biennial period.
     6    (A)  For  the  purpose  of  this  paragraph, a "statewide professional
     7  insurance producer association" shall be defined as an association  that
     8  has  been in existence for at least ten years, which derives its member-
     9  ship from amongst those persons  that  have  been  issued  an  insurance
    10  producer's  license by the superintendent, and which is dedicated to the
    11  promotion of the integrity, trust, professionalism and  business  inter-
    12  ests  of  its membership through education, advocacy, social interaction
    13  and the development of ethical and sound business  practices  including,
    14  but not limited to, a professional publication or journal that is issued
    15  not  less than four times a year; issuance of not less than six guidance
    16  or fact-based policy statements or  instructional  memoranda  on  topics
    17  pertaining  to  professional  practice,  customer  service,  ethics or a
    18  substantive issue; or distribution of not less than twelve  such  state-
    19  ments or memoranda produced by another organization.
    20    (B)  For the purpose of this paragraph, 'active membership' means: (i)
    21  certification by the licensee to the superintendent that the member  was
    22  in  good standing with dues paid in full for the previous biennial peri-
    23  od; (ii) certification to the superintendent by the  licensee  that  the
    24  member  has  read the professional insurance producer association's code
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD09479-01-9
        A. 5922                             2
     1  of ethics; and (iii) certification to the superintendent by the licensee
     2  that the licensee has attended at least one course, program of  instruc-
     3  tion or seminar that meets the requirements of this section sponsored by
     4  the  professional  insurance  producer  association each year during the
     5  previous biennial period.
     6    (C) The professional insurance producer association  shall  file  with
     7  the  superintendent  annually,  by  January  thirty-first, a list of all
     8  members in good standing for the previous  year,  the  current  code  of
     9  ethics,  and any other information that the superintendent shall require
    10  in order to implement the provisions of this paragraph.
    11    § 2. This act shall take effect immediately.