By: Eiland (Senate Sponsor - Ellis) H.B. No. 2154

(In the Senate - Received from the House April 7, 2011; April 20, 2011, read first time and referred to Committee on State Affairs; May 10, 2011, reported adversely, with favorable Committee Substitute by the following vote: Yeas 9, Nays 0; May 10, 2011, sent to printer.)

COMMITTEE SUBSTITUTE FOR H.B. No. 2154 By: Ellis

A BILL TO BE ENTITLED

AN ACT

relating to certain continuing education requirements for agents who sell annuities.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

SECTION 1. Section 4004.202(b), Insurance Code, is amended to read as follows:

(b) Each agent described by Subsection (a) must complete eight [four] hours of continuing education [annually] that specifically relates to annuities during the agent's two-year licensing period. [The annual period under this section must be based on the agent's license expiration date or another date specified by the commissioner by rule, and the education requirement under this subsection must be met within that annual period, notwithstanding Section 4004.051(b).]

SECTION 2. This Act takes effect September 1, 2011.

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