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Sen. John G. Mulroe
Filed: 2/14/2017
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| 1 | | AMENDMENT TO SENATE BILL 692
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| 2 | | AMENDMENT NO. ______. Amend Senate Bill 692 on page 2, by |
| 3 | | replacing lines 1 through 12 with the following:
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| 4 | | "(d) Nothing in Section 500-100 of this Code shall be |
| 5 | | construed to require a limited lines producer license or any |
| 6 | | other form or class of producer's license for financial |
| 7 | | institutions, or their employees, if the financial institution |
| 8 | | has purchased or sponsored a group credit life, credit accident |
| 9 | | and health, credit casualty, credit property, or other group |
| 10 | | credit insurance policy or program under which the financial |
| 11 | | institution enrolls or performs other administrative services, |
| 12 | | or both, to enable individuals to purchase insurance coverage |
| 13 | | under the group credit insurance policy sold by a licensed |
| 14 | | producer in compliance with Section 155.56. A financial |
| 15 | | institution that performs enrollment or other administrative |
| 16 | | services, or both, with respect to its group credit insurance |
| 17 | | policies or programs shall be deemed to be in compliance with |