97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
SB2924
 
Introduced 2/1/2012, by Sen. William E. Brady
 
SYNOPSIS AS INTRODUCED:
 

 



215 ILCS 5/500-25

     Amends the Illinois Insurance Code.  Makes a technical change in a Section
concerning applications for the insurance producer examination.
  


LRB097 14906 RPM 59937 b

 
 
A BILL FOR
 

  
SB2924LRB097 14906 RPM 59937 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 500-25 as follows:
 



6    (215 ILCS 5/500-25)


7    (Section scheduled to be repealed on January 1, 2017)

8    Sec. 500-25. Application for examination. 

9    (a) A resident individual applying for an an insurance 
10producer license must
pass a written
examination unless exempt 
11pursuant to Section 500-45.  Both part one and part 2
of the

12examination must be passed within 90 days of each other.  The 
13examination shall
test the
knowledge of the individual 
14concerning the lines of authority for which
application is 
15made, the
duties and responsibilities of an insurance producer, 
16and the insurance laws
and rules of this
State.  Examinations 
17required by this Section must be developed and conducted
under 
18rules
prescribed by the Director.

19    (b) The Director may make arrangements,
including 
20contracting with an outside testing
service, for administering

21examinations and collecting the nonrefundable fee set forth in 
22Section
500-135.

23    (c) An individual applying for an examination must remit a 
 
 
SB2924- 2 -LRB097 14906 RPM 59937 b

1nonrefundable fee
as
prescribed by the Director as set forth in 
2Section 500-135, plus a separate
remittance payable to
the 
3designated testing service for the total fees the testing 
4service charges
for each of the various
services being 
5requested by the applicant.

6    (d) An individual who fails to appear for the examination 
7as scheduled or
fails
to pass the
examination, must reapply for 
8an examination and remit all required fees and
forms before 
9being
rescheduled for another examination.

10(Source: P.A. 92-386, eff. 1-1-02.)