BILL ANALYSIS S.B. 1009 By: Brown Economic Development 05-1-95 Committee Report (Amended) BACKGROUND Current sanctions relating to persons who act as a life insurance counselor or who violate life insurance counselor provisions in the Insurance Code are inconsistent with punishment ranges in the Penal Code. PURPOSE As proposed, S.B. 1009 provides sanctions for individuals who act as a life insurance counselor without a license or who violate provisions of the Insurance Code relating to life insurance counselors. RULEMAKING AUTHORITY It is the committee's opinion that this bill does not grant any additional rulemaking authority to a state officer, institution, or agency. SECTION BY SECTION ANALYSIS SECTION 1. Amends Section 7, Article 21.07-2, V.T.I.C., as follows: Sec. 7. (a) Provides that a person commits an offense if the person acts as a life insurance counselor without a license issued under this Act or violates this Act. Provides that each violation constitutes a separate offense and an offense under this subsection is a Class C misdemeanor. (b) Subjects a person who commits a violation under this Act to license revocation under Section 5, Article 21.01-2, V.T.I.C. Makes a license holder ineligible for a new license for two years after the effective date of the license revocation if the department revokes the license. Deletes existing Section 7 relating to punishment of an offense under this Act. SECTION 2. Makes application of this Act prospective. SECTION 3. Emergency clause. Effective date: 90 days after adjournment.