102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
HB0241

 

Introduced 1/29/2021, by Rep. Thaddeus Jones

 

SYNOPSIS AS INTRODUCED:
 
215 ILCS 5/500-30

    Amends the Illinois Insurance Code to provide that pre-licensing course of study hours required to be completed in a classroom setting in order to obtain an insurance producer license may also be completed in a webinar setting. Effective immediately.


LRB102 10112 BMS 15434 b

 

 

A BILL FOR

 

HB0241LRB102 10112 BMS 15434 b

1    AN ACT concerning regulation.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois Insurance Code is amended by
5changing Section 500-30 as follows:
 
6    (215 ILCS 5/500-30)
7    (Section scheduled to be repealed on January 1, 2027)
8    Sec. 500-30. Application for license.
9    (a) An individual applying for a resident insurance
10producer license must make application on a form specified by
11the Director and declare under penalty of refusal, suspension,
12or revocation of the license that the statements made in the
13application are true, correct, and complete to the best of the
14individual's knowledge and belief. Before approving the
15application, the Director must find that the individual:
16        (1) is at least 18 years of age;
17        (2) is sufficiently rehabilitated in cases in which
18    the applicant has committed any act that is a ground for
19    denial, suspension, or revocation set forth in Section
20    500-70, other than convictions set forth in paragraph (6)
21    of subsection (a) of Section 500-70; with respect to
22    applicants with convictions set forth in paragraph (6) of
23    subsection (a) of Section 500-70, the Director shall

 

 

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1    determine in accordance with Section 500-76 that the
2    conviction will not impair the ability of the applicant to
3    engage in the position for which a license is sought;
4        (3) has completed, if required by the Director, a
5    pre-licensing course of study before the insurance exam
6    for the lines of authority for which the individual has
7    applied (an individual who successfully completes the Fire
8    and Casualty pre-licensing courses also meets the
9    requirements for Personal Lines-Property and Casualty);
10        (4) has paid the fees set forth in Section 500-135;
11    and
12        (5) has successfully passed the examinations for the
13    lines of authority for which the person has applied.
14    (b) A pre-licensing course of study for each class of
15insurance for which an insurance producer license is requested
16must be established in accordance with rules prescribed by the
17Director and must consist of the following minimum hours:
18Class of InsuranceNumber of
19Hours
20Life (Class 1(a))20
21Accident and Health (Class 1(b) or 2(a))20
22Fire (Class 3)20
23Casualty (Class 2)20
24Personal Lines-Property Casualty20
25Motor Vehicle (Class 2(b) or 3(e))12.5
26    7.5 hours of each pre-licensing course must be completed

 

 

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1in a classroom or webinar setting, except Motor Vehicle, which
2would require 5 hours in a classroom or webinar setting.
3    (c) A business entity acting as an insurance producer must
4obtain an insurance producer license. Application must be made
5using the Uniform Business Entity Application. Before
6approving the application, the Director must find that:
7        (1) the business entity has paid the fees set forth in
8    Section 500-135; and
9        (2) the business entity has designated a licensed
10    producer responsible for the business entity's compliance
11    with the insurance laws and rules of this State.
12    (d) The Director may require any documents reasonably
13necessary to verify the information contained in an
14application.
15(Source: P.A. 100-286, eff. 1-1-18.)
 
16    Section 99. Effective date. This Act takes effect upon
17becoming law.