HB4262 H B&I AM 2-8

    The Committee on Banking and Insurance moves to amend the bill on page 4, section 7, after line 21, by inserting a new subdivision, designated subdivision (3), to read as follows:

    (3) Individual insurance producers that have been licensed in this state to engage in the sale of all types of insurance for which he or she is licensed for a cumulative period of thirty years or more, after completion of continuing education required in this section in the biennium during which the thirtieth year of licensure is completed : Provided, That the producer notify the Commissioner in writing of his or her intent to exercise his or her option to take this exemption not less than thirty days prior to the beginning of the next biennium and the Commissioner makes a written determination, to be made within twenty days upon receipt of the notification, that the producer is eligible for this exemption.


    On page 8, section 7, line 7, after the word “commissioner”, by striking the remainder of the subdivision and inserting in lieu thereof the following: “. A producer who has had a suspension order entered against him or her pursuant to this section may, within thirty calendar days of receipt of the order, request a hearing for reconsideration. The notice shall inform the producer of his or her right to a hearing”