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91_HB3383
LRB9110049JSpcA
1 AN ACT to amend the Illinois Insurance Code by changing
2 Section 494.1.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Insurance Code is amended by
6 changing Section 494.1 as follows:
7 (215 ILCS 5/494.1) (from Ch. 73, par. 1065.41-1)
8 Sec. 494.1. Insurance producer license; application and
9 examination.
10 (a) Each application for an insurance producer license
11 shall be made on a form specified by the Director, and shall
12 be signed by the applicant declaring under penalty of
13 refusal, suspension or revocation of the license that the
14 statements made in the application are true, correct and
15 complete to the best of the applicant's knowledge and belief.
16 Before approving the application, the Director shall satisfy
17 himself that the applicant (1) is at least 18 years of age;
18 (2) is competent, trustworthy and of good business
19 reputation; (3) has completed a pre-licensing course of
20 study; and (4) has certified that the bond required by
21 Section 508.2 is in force and effect or that the applicant is
22 exempt from the requirement of obtaining such bond; and (5)
23 has paid the fees required by Section 509.1. A pre-licensing
24 course of study for each class of insurance for which an
25 insurance producer license is requested shall be established
26 in accordance with rules and regulations prescribed by the
27 Director and shall consist of the following minimum hours:
28 Class of Insurance Number of Hours
29 Life (Class 1 (a)) 15
30 Accident/Health (Class 1(b) or 2(a)) 15
31 Fire (Class 3) 15
-2- LRB9110049JSpcA
1 Casualty (Class 2) 15
2 Motor Vehicle (Class 2(b) or 3(e)) 7 1/2
3 (b) Applicants for an insurance producer license shall
4 pass, within 90 days of each other, both part one and part 2
5 of a written examination unless exempt pursuant to Section
6 498.1. The examination shall reasonably test the knowledge
7 of the applicant concerning the class or classes of insurance
8 for which a license is applied, the duties and
9 responsibilities of an insurance producer and the insurance
10 laws and rules of Illinois. The examinations provided for by
11 this Section shall be conducted under rules and regulations
12 prescribed by the Director. The Director may make
13 arrangements, including contracting with an outside testing
14 service, for administering such examinations and collecting
15 the non-refundable application fee provided for by Section
16 509.1. At the discretion of the Department, examinations
17 administered under this Section may be administered in
18 languages other than English if requested by the applicant.
19 Each applicant required to take an examination shall, at
20 the time of request for examination, enclose with the
21 application a non-refundable application fee payable to the
22 Director, as provided for in Section 509.1, plus a separate
23 remittance payable to the designated testing service for the
24 total fees the testing service charges for each of the
25 various services being requested by the applicant. An
26 applicant who fails to appear for the examination as
27 scheduled, or appears but fails to pass, shall not be
28 entitled to any refund, and shall be required to submit a new
29 request for examination together with all of the requisite
30 fees before being rescheduled for another examination at a
31 later date.
32 (c) Before each license renewal, an insurance producer
33 shall satisfactorily complete at least 30 hours of course
34 study in accordance with rules prescribed by the Director.
-3- LRB9110049JSpcA
1 The Director may not approve a course of study unless the
2 course provides for classroom, seminar, or self-study
3 instruction methods. A course given in a combination
4 instruction method of classroom or seminar and self-study
5 shall be deemed to be a self-study course unless the
6 classroom or seminar certified hours meets or exceeds
7 two-thirds of total hours certified for the course. The
8 self-study material used in the combination course must be
9 directly related to and complement the classroom portion of
10 the course in order to be considered for credit. An
11 instruction method other than classroom or seminar shall be
12 considered as self-study methodology. Self-study credit
13 hours require the successful completion of an examination
14 covering the self-study material, which shall not be
15 self-evaluated. Provided, however, that if the self-study
16 material is completed through the use of an approved
17 computerized interactive format whereby the computer
18 validates the successful completion of the self-study
19 material, no additional examination shall be required. The
20 self-study credit hours contained in a certified course shall
21 be considered classroom hours when at least two-thirds of the
22 hours are given as classroom or seminar instruction.
23 (d) An insurance producer license shall automatically
24 terminate when an insurance producer fails to successfully
25 meet the requirements of paragraph (c) of this Section.
26 (e) The holder of an insurance producer license shall
27 inform the Director in writing of a change in his residential
28 address within 30 days of such change.
29 (f) Each provider of a prelicensing or continuing
30 education course required by this Section shall pay a
31 registration fee and a course certification fee for each
32 course being certified as provided by Section 509.1.
33 (Source: P.A. 91-234, eff. 1-1-00.)