H 4683 General Bill, By Harrison
 A BILL TO AMEND SECTION 38-43-106, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA,
 1976, RELATING TO CONTINUING EDUCATION REQUIREMENTS FOR INSURANCE AGENTS, SO
 AS TO ADD PROVISIONS AUTHORIZING A PROCEDURE FOR AN ASSOCIATION WHICH ISSUES
 PROFESSIONAL INSURANCE DESIGNATIONS, OR OTHER INSURANCE RELATED DESIGNATIONS,
 WHICH REQUIRE CONTINUING EDUCATION TO REQUEST AN EXEMPTION ON BEHALF OF ITS
 DESIGNEES FROM COMPLYING WITH THE CONTINUING EDUCATION REQUIREMENTS OF THIS
 SECTION DURING EACH BIENNIAL REPORTING PERIOD FOR THE LINES OF AUTHORITY
 COVERED BY THE DESIGNATION.

   02/24/98  House  Introduced and read first time HJ-11
   02/24/98  House  Referred to Committee on Labor, Commerce and
                     Industry HJ-12
   04/15/98  House  Committee report: Favorable Labor, Commerce and
                     Industry HJ-9
   04/16/98  House  Read second time HJ-30
   04/16/98  House  Unanimous consent for third reading on next
                     legislative day HJ-32
   04/17/98  House  Read third time and sent to Senate HJ-5
   04/21/98  Senate Introduced and read first time SJ-21
   04/21/98  Senate Referred to Committee on Banking and Insurance SJ-21
   04/29/98  Senate Committee report: Favorable Banking and Insurance SJ-18
   05/13/98  Senate Read second time SJ-46

April 29, 1998

H. 4683

S. Printed 4/29/98--S.

Read the first time April 21, 1998.

To whom was referred a Bill (H. 4683), to amend Section 38-43-106, as amended, Code of Laws of South Carolina, 1976, relating to continuing education requirements, etc., respectfully

Has polled the Bill out of committee without report.

A BILL

TO AMEND SECTION 38-43-106, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO CONTINUING EDUCATION REQUIREMENTS FOR INSURANCE AGENTS, SO AS TO ADD PROVISIONS AUTHORIZING A PROCEDURE FOR AN ASSOCIATION WHICH ISSUES PROFESSIONAL INSURANCE DESIGNATIONS, OR OTHER INSURANCE RELATED DESIGNATIONS, WHICH REQUIRE CONTINUING EDUCATION TO REQUEST AN EXEMPTION ON BEHALF OF ITS DESIGNEES FROM COMPLYING WITH THE CONTINUING EDUCATION REQUIREMENTS OF THIS SECTION DURING EACH BIENNIAL REPORTING PERIOD FOR THE LINES OF AUTHORITY COVERED BY THE DESIGNATION.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION 1. Section 38-43-106 of the 1976 Code, as last amended by Act 399 of 1994, is further amended by adding:

"(J) An association which issues professional insurance designations, or other insurance related designations, which require continuing education may request an exemption on behalf of its designees from complying with the requirements of subsection (A) during each biennial reporting period for the lines of authority covered by the designation. Before allowing the exemption, the director or his designee must find that the professional insurance designation's, or other insurance related designation's, continuing education requirements are substantially similar to the requirements of subsection (A). Upon the determination that the professional insurance designation's, or other insurance related designation's, continuing education requirements are substantially similar to the requirements of subsection (A), an individual desiring the exemption shall make a written request to the director or his designee, providing proof of the designation and continuous maintenance of the designation. The request must be made on a biennial basis no later than January 1 of even numbered years on a form provided by the department. The awarding of the exemption must be in writing and for the current biennial reporting period only. In the event that the exemption is not granted for a biennial reporting period, the agent is required to comply with the provisions of this section."

SECTION 2. This act takes effect upon approval by the Governor.