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H. 3070
STATUS INFORMATION
General Bill
Sponsors: Rep. Kirsh
Document Path: l:\council\bills\dka\3010dw07.doc
Introduced in the House on January 9, 2007
Currently residing in the House Committee on Labor, Commerce and Industry
Summary: Insurance producer's license
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number
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12/13/2006 House Prefiled
12/13/2006 House Referred to Committee on Labor, Commerce and Industry
1/9/2007 House Introduced and read first time HJ-45
1/9/2007 House Referred to Committee on Labor, Commerce and Industry
HJ-45
View the latest legislative information at the LPITS web site
VERSIONS OF THIS BILL
TO AMEND SECTION 38-43-110, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE DURATION OF AN INSURANCE PRODUCER'S LICENSE AND THE LAPSING OF A LICENSE ON RENEWAL FOR NONPAYMENT OF A FEE, SO AS TO CHANGE THE PROCEDURE FOR REINSTATING A LICENSE FOR NONPAYMENT OF A FEE OR FAILURE TO COMPLY WITH THE CONTINUING EDUCATION REQUIREMENT.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 38-43-110 of the 1976 Code, as last amended by Act 323 of 2002, is further amended to read:
"Section 38-43-110. (A) A producer's license is for an indefinite term unless revoked or suspended as long as the requirements of Section 38-43-106 are met. If the biennial appointment fee for a producer is not paid at the time and in the manner the department provides by regulation, the appointment must be canceled.
(B) A producer who allows his license to lapse for failure fails to comply with pay the continuing education recordkeeping fee as required by Section 38-43-106 may shall have his license canceled on renewal. However, within six months from the compliance deadline, he may reinstate the same license without the necessity of complying with Section 38-43-105, provided a total of thirty hours of continuing education has been completed by November first of the compliance year, and a penalty fee set forth by regulation is paid the recordkeeping fee is paid to the Continuing Education Administrator. In addition, a penalty fee, not to exceed one hundred dollars, must be paid to and retained by the department for administrative services resulting from those producers who fail to comply with Section 38-43-106.
(C) A producer who fails to comply with the biennial continuing education hourly requirement as provided for in Section 38-43-106 shall have his license canceled on renewal. However, the producer may reinstate the same license without the necessity of complying with Section 38-43-105, provided within six months from the compliance deadline the required number of continuing education hours have been completed and a penalty fee, not to exceed two hundred dollars, is paid to and retained by the department for administrative services resulting from those producers who fail to comply with Section 38-43-106.
(D) A licensed insurance producer who is unable to comply with license renewal procedures due to active military service or some other extenuating circumstance (e.g., such as a long-term medical disability), may request a waiver of those procedures. The producer may also may request a waiver of any examination requirement or any other fine or sanction imposed for failure to comply with renewal procedures."
SECTION 2. This act takes effect upon approval by the Governor.
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