SB1386 98TH GENERAL ASSEMBLY

LRB098 07088 RPM 37149 b

98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
SB1386

Introduced 2/6/2013, by Sen. William E. Brady

SYNOPSIS AS INTRODUCED:

215 ILCS 5/500-25

Amends the Illinois Insurance Code. Makes a technical change in a Section concerning applications for the insurance producer examination.

A BILL FOR

AN ACT concerning regulation.

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 Section 500-25 as follows:

(215 ILCS 5/500-25)

(Section scheduled to be repealed on January 1, 2017)

Sec. 500-25. Application for examination.

(a) A resident individual applying for an an insurance producer license must pass a written examination unless exempt pursuant to Section 500-45. Both part one and part 2 of the examination must be passed within 90 days of each other. The examination shall test the knowledge of the individual concerning the lines of authority for which application is made, the duties and responsibilities of an insurance producer, and the insurance laws and rules of this State. Examinations required by this Section must be developed and conducted under rules prescribed by the Director.

(b) The Director may make arrangements, including contracting with an outside testing service, for administering examinations and collecting the nonrefundable fee set forth in Section 500-135.

(c) An individual applying for an examination must remit a nonrefundable fee as prescribed by the Director as set forth in Section 500-135, plus a separate remittance payable to the designated testing service for the total fees the testing service charges for each of the various services being requested by the applicant.

(d) An individual who fails to appear for the examination as scheduled or fails to pass the examination, must reapply for an examination and remit all required fees and forms before being rescheduled for another examination.

(Source: P.A. 92-386, eff. 1-1-02.)