Full Text of SB1758 98th General Assembly
SB1758enr 98TH GENERAL ASSEMBLY |
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| 1 | | AN ACT concerning insurance.
| 2 | | Be it enacted by the People of the State of Illinois,
| 3 | | represented in the General Assembly:
| 4 | | Section 5. The Illinois Insurance Code is amended by | 5 | | changing Sections 500-100 and 500-135 as follows:
| 6 | | (215 ILCS 5/500-100)
| 7 | | (Section scheduled to be repealed on January 1, 2017)
| 8 | | Sec. 500-100. Limited lines producer license.
| 9 | | (a) An individual who is at least 18 years of age and whom | 10 | | the Director
considers to
be competent, trustworthy, and of | 11 | | good business reputation may obtain a limited
lines producer
| 12 | | license for one or more of the following classes:
| 13 | | (1) insurance on baggage or limited travel health, | 14 | | accident, or trip
cancellation
insurance sold in | 15 | | connection with transportation provided by a common | 16 | | carrier;
| 17 | | (2) industrial life insurance, as defined in Section | 18 | | 228 of this Code;
| 19 | | (3) industrial accident and health insurance, as | 20 | | defined in
Section 368 of this
Code;
| 21 | | (4) insurance issued by a company organized under the | 22 | | Farm Mutual
Insurance Company Act of 1986;
| 23 | | (5) legal expense insurance;
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| 1 | | (6) enrollment of recipients of public aid or medicare | 2 | | in a health
maintenance
organization;
| 3 | | (7) a limited health care plan issued by an | 4 | | organization having a
certificate of
authority under the | 5 | | Limited Health Service Organization Act ; .
| 6 | | (8) credit life and credit accident and health | 7 | | insurance and other credit insurance policies approved or | 8 | | permitted by the Director; a credit insurance company must | 9 | | conduct a training program in which an applicant shall | 10 | | receive basic instruction about the credit insurance | 11 | | products that they will be selling. | 12 | | (b) The application for a limited lines producer license | 13 | | must be submitted
on a form
prescribed by the Director by a | 14 | | designee of the insurance company, health
maintenance
| 15 | | organization, or limited health service organization | 16 | | appointing the limited
insurance
representative. The insurance | 17 | | company, health maintenance organization, or
limited health
| 18 | | service organization must pay the fee required by Section | 19 | | 500-135.
| 20 | | (c) A limited lines producer may represent more than one | 21 | | insurance company,
health
maintenance organization, or limited | 22 | | health service organization.
| 23 | | (d) An applicant who has met the requirements of this | 24 | | Section shall be
issued a
perpetual limited lines producer | 25 | | license.
| 26 | | (e) A limited lines producer license shall remain in effect |
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| 1 | | as long as the
appointing
insurance company pays the respective | 2 | | fee required by Section 500-135 prior to
January 1 of
each | 3 | | year, unless the license is revoked or suspended pursuant to
| 4 | | Section 500-70. Failure of the
insurance company to pay the | 5 | | license fee or to submit the required documents
shall cause
| 6 | | immediate termination of the limited line insurance producer | 7 | | license with
respect to which the
failure occurs.
| 8 | | (f) A limited lines producer license may be terminated by | 9 | | the insurance
company or
the licensee.
| 10 | | (g) A person whom the Director considers to be competent, | 11 | | trustworthy, and
of
good
business reputation may be issued a | 12 | | car rental limited line license. A car
rental limited line
| 13 | | license for a rental company shall remain in effect as long as | 14 | | the car rental
limited line licensee
pays the respective fee | 15 | | required by Section 500-135 prior to the next fee date
unless | 16 | | the car rental
license is revoked or suspended pursuant to | 17 | | Section 500-70. Failure of the car
rental limited line
licensee | 18 | | to pay the license fee or to submit the required documents | 19 | | shall cause
immediate
suspension of the car rental limited line | 20 | | license. A car rental limited line
license for rental
companies | 21 | | may be voluntarily
terminated by the car rental limited line | 22 | | licensee. The license fee
shall not be refunded upon | 23 | | termination of the car rental limited line license
by the car | 24 | | rental
limited line licensee.
| 25 | | (h) A limited lines producer issued a license pursuant to | 26 | | this Section is
not
subject to
the requirements of Section |
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| 1 | | 500-30.
| 2 | | (i) A limited lines producer license must contain the name, | 3 | | address and
personal
identification number of the licensee, the | 4 | | date the license was issued,
general conditions relative
to the | 5 | | license's expiration or termination, and any other information | 6 | | the
Director considers
proper. A limited line producer license, | 7 | | if applicable, must also contain the
name and address of
the | 8 | | appointing insurance company.
| 9 | | (Source: P.A. 92-386, eff. 1-1-02 .)
| 10 | | (215 ILCS 5/500-135)
| 11 | | (Section scheduled to be repealed on January 1, 2017)
| 12 | | Sec. 500-135. Fees.
| 13 | | (a) The fees required by this Article are as follows:
| 14 | | (1) a fee of $180 for a person who is a resident of | 15 | | Illinois, and $250
for a person who is not a resident of | 16 | | Illinois, payable once every 2
years for an insurance
| 17 | | producer
license;
| 18 | | (2) a fee of $50 for the issuance of a temporary | 19 | | insurance
producer
license;
| 20 | | (3) a fee of $150 payable once every 2 years for a | 21 | | business
entity;
| 22 | | (4) an annual $50 fee for a limited
line producer | 23 | | license issued under items (1)
through (8) (7) of | 24 | | subsection (a) of Section 500-100;
| 25 | | (5) a $50 application fee for the processing of a |
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| 1 | | request to
take the
written
examination for an insurance | 2 | | producer license;
| 3 | | (6) an annual registration fee of $1,000 for | 4 | | registration of
an
education provider;
| 5 | | (7) a certification fee of $50 for each certified
| 6 | | pre-licensing or
continuing
education course and an annual | 7 | | fee of $20 for renewing the
certification of
each such
| 8 | | course;
| 9 | | (8) a fee of $180 for a person who is a resident of | 10 | | Illinois, and $250
for a person who is not a resident of | 11 | | Illinois, payable once every 2
years for a car rental
| 12 | | limited line
license;
| 13 | | (9) a fee of $200 payable once every 2 years for a | 14 | | limited
lines license
other
than the licenses issued under | 15 | | items (1) through (8) (7) of subsection (a) of
Section
| 16 | | 500-100, a
car rental limited line license, or a | 17 | | self-service storage facility limited
line license;
| 18 | | (10) a fee of $50 payable once every 2 years for a | 19 | | self-service storage
facility limited line license.
| 20 | | (b) Except as otherwise provided, all
fees paid to and | 21 | | collected by the Director under
this Section shall be paid | 22 | | promptly after receipt thereof, together with a
detailed | 23 | | statement of
such fees, into a special fund in the State | 24 | | Treasury to be known as the
Insurance Producer
Administration | 25 | | Fund. The moneys deposited into the Insurance Producer
| 26 | | Administration Fund
may be used only for payment of the |
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| 1 | | expenses of the Department in the
execution,
administration, | 2 | | and enforcement of the insurance laws of this State, and shall
| 3 | | be appropriated as
otherwise provided by law for the payment of | 4 | | those expenses with first priority
being any
expenses incident | 5 | | to or associated with the administration and enforcement of
| 6 | | this Article.
| 7 | | (Source: P.A. 95-331, eff. 8-21-07 .)
| 8 | | Section 99. Effective date. This Act takes effect upon | 9 | | becoming law.
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