Bill Text: NY A09527 | 2017-2018 | General Assembly | Introduced

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

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Bill Title: Allows an individual to substitute correspondence work for classroom work when applying for an insurance agent license.

Spectrum: Partisan Bill (Democrat 6-0)

Status: (Passed) 2018-12-07 - signed chap.365 [A09527 Detail]

Download: New_York-2017-A09527-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          9527
                   IN ASSEMBLY
                                    January 19, 2018
                                       ___________
        Introduced  by M. of A. WOERNER -- read once and referred to the Commit-
          tee on Insurance
        AN ACT to amend the insurance law, in relation to licensing requirements
          for insurance agents
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1.  Subparagraph  (B)  of  paragraph  2  of subsection (f) of
     2  section 2103 of the insurance law, as amended by chapter 687 of the laws
     3  of 2003, is amended to read as follows:
     4    (B) For individuals seeking to  qualify  to  obtain  a  license  under
     5  subsection (b) of this section, not more than six types of examinations,
     6  each adapted to test the qualifications of an individual with respect to
     7  the  kinds of insurance business specified in such classification. Every
     8  such individual shall be required to pass the type or types of  examina-
     9  tion prescribed by the superintendent for the line or lines of authority
    10  for which the license is sought. No individual shall be deemed qualified
    11  to  take  the  examination unless he shall have successfully completed a
    12  course or courses, approved as to method and content by the  superinten-
    13  dent,  covering  the  principal  branches  of the insurance business and
    14  requiring not less than ninety hours of classroom work or the equivalent
    15  in correspondence work or a  similar  institution,  in  institutions  of
    16  learning meeting the standards prescribed by paragraph one of subsection
    17  (a)  of section two thousand one hundred four of this article; provided,
    18  however, with respect to a license issued pursuant to subsection (b)  of
    19  this  section  for a personal line of authority, there shall be required
    20  not less than forty hours of such classroom work or  the  equivalent  in
    21  correspondence work or a similar institution.
    22    § 2. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD13792-01-7