Bill Text: NY A07012 | 2017-2018 | General Assembly | Introduced

New York Assembly Bill 7012 (Prior Session Legislation)

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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

Spectrum: Moderate Partisan Bill (Democrat 5-1)

Status: (Introduced - Dead) 2018-06-12 - substituted by s3960a [A07012 Detail]

Download: New_York-2017-A07012-Introduced.html

                STATE OF NEW YORK
        ________________________________________________________________________
                                          7012
                               2017-2018 Regular Sessions
                   IN ASSEMBLY
                                     March 29, 2017
                                       ___________
        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 six 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.
    14    (B)  For the purpose of this paragraph, 'active membership' means: (i)
    15  certification by the licensee to the superintendent that the member  was
    16  in  good standing with dues paid in full for the previous biennial peri-
    17  od; (ii) certification to the superintendent by the  licensee  that  the
    18  member  has  read the professional insurance producer association's code
    19  of ethics; and (iii) certification to the superintendent by the licensee
    20  that the licensee has attended at least one educational meeting, presen-
    21  tation or conference sponsored by the  professional  insurance  producer
    22  association each year during the previous biennial period.
    23    (C)  The  professional  insurance producer association shall file with
    24  the superintendent annually, by January  thirty-first,  a  list  of  all
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD08253-01-7

        A. 7012                             2
     1  members  in  good  standing  for  the previous year, the current code of
     2  ethics, and any other information that the superintendent shall  require
     3  in order to implement the provisions of this paragraph.
     4    § 2. This act shall take effect immediately.