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Senate Bill No. 353

Public Act No. 02-19

AN ACT CONCERNING THE LICENSING OF INSURANCE PRODUCERS.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. Section 5 of public act 01-113 is amended by adding subsections (e), (f) and (g) as follows (Effective September 1, 2002):

(NEW) (e) Each applicant for an insurance producer license shall, before being admitted to an examination under subsection (a) of this section, prove to the satisfaction of the commissioner that such applicant meets one of the following prerequisites: (1) That the applicant has successfully completed a course approved by the commissioner requiring not less than forty hours for each line of insurance for which the applicant is applying to be licensed; or (2) that such applicant has equivalent experience or training as determined by the commissioner.

(NEW) (f) The commissioner may waive the requirement for examination for any applicant who, at any time within the year preceding the date of application for an insurance producer license, was licensed in this state under a license of the same type as the license applied for.

(NEW) (g) Notwithstanding any provision of chapter 702 of the general statutes or public act 01-113, no examination or prelicensing education shall be required of an applicant for a limited lines producer license.

Sec. 2. Subsection (a) of section 38a-769 of the general statutes, as amended by section 20 of public act 01-113, is repealed and the following is substituted in lieu thereof (Effective September 1, 2002):

(a) Any person, partnership, association or corporation, resident, or with its principal place of business in this state, or a nonresident of this state who is not licensed in any other state, desiring to act within this state as a public adjuster, casualty adjuster, motor vehicle physical damage appraiser, certified insurance consultant, surplus lines broker or desiring to engage in any insurance-related occupation for which a license is deemed necessary by the commissioner, other than an occupation as an insurance producer, shall make a written application to the commissioner for a resident license. Any other person, partnership, association or corporation desiring to so act or to engage in any insurance-related occupation for which a license is deemed necessary by the commissioner, other than an occupation as an insurance producer, shall make a written application to the commissioner for a nonresident license. No application for a nonresident license shall be granted unless the applicant holds an equivalent license from any other state. Any application for a resident or nonresident license shall be made for each name or designation under which such business shall be conducted, in such form as the commissioner prescribes, stating the line or lines of insurance for which the applicant desires such license and any other business which the applicant desires also to transact. All initial applications shall be accompanied by a nonrefundable filing fee specified in section 38a-11. The commissioner shall cause to be made such inquiry and examination as to the qualifications of each such applicant as the commissioner deems necessary.

Sec. 3. Section 38a-770 of the general statutes, as amended by section 26 of public act 01-113, is repealed and the following is substituted in lieu thereof (Effective September 1, 2002):

Whenever the Insurance Commissioner receives an application for an initial license or license renewal, pursuant to the requirements of sections 38a-703 to 38a-718, inclusive, as amended, 38a-731 to 38a-735, inclusive, 38a-741 to 38a-745, inclusive, as amended, 38a-769, as amended by this act, 38a-771 to 38a-777, inclusive, as amended, section 10 of [this act] public act 01-113, as amended, 38a-786, 38a-790, 38a-792 and 38a-794, which is not accompanied by the required fees, the commissioner shall return such application together with all accompanying fees, unless the commissioner, at the commissioner's discretion, chooses to invoice any such fees not submitted with the initial or renewal applications. Whenever the Insurance Commissioner receives an application accompanied by the required fees accepted by the commissioner, all examination and filing fees are deemed earned.

Approved April 30, 2002