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SENATE BILL 957 |
SENATE AUTHOR: Madla |
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EFFECTIVE: 9-1-99 |
HOUSE SPONSOR: Eiland et al. |
Senate Bill 957 amends certain provisions of the Insurance Code to authorize the commissioner of insurance to issue a specialty license to a certified person in a rental car, credit insurance, travel insurance, or self-service storage business and allows an employee of a specialty license holder to act as an agent of the license holder if certain training, supervision, and compensation requirements are met. The act includes requirements relating to collected premiums, consumer information, and other administrative matters relating to specialty licenses.
The act expands the scope of licensing requirements for a life insurance counselor to include counselors that examine accident or health insurance or a health benefit plan. It requires that life and health insurance counselors be subject to the same regulations as other insurance agents, rather than as legal reserve life insurance company agents, and removes certain provisions that made counseling without a license a Class C misdemeanor.
The act authorizes certain insurance companies with a limited agricultural insurance license to appoint and act through a licensed local recording agent or solicitor. It also authorizes agents of a license holder to represent more than one insurance company when exclusively conducting business in the area of crop insurance. The act includes provisions relating to the administration of such licenses.
The act authorizes automobile clubs to provide insurance coverage to members, including accidental injury and death insurance, through a group policy and to sell or endorse insurance products. The act requires that an automobile club selling insurance be properly licensed as an agent.