Insurance: producers; continuing education credit carryover system for insurance producers who belong to a professional insurance association; provide for. Amends sec. 1204c of 1956 PA 218 (MCL 500.1204c).
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill modifies the continuing education requirements for insurance producers in Michigan. It establishes a carryover system allowing producers to apply unused continuing education hours from one 2-year period to the next, with certain limitations. The bill also introduces a new provision that credits producers 4 hours of continuing education if they are members of a professional insurance association and actively participate in its activities, subject to specific requirements and director approval. Finally, it includes provisions regarding program approval, instructor oversight, and grace periods for those unable to meet continuing education requirements.
Key provisions
- Allows insurance producers to carry over unused continuing education hours to the next 2-year period, subject to limitations.
- Credits insurance producers 4 hours of continuing education if they are members of a professional insurance association and meet specific participation requirements.
- Establishes requirements for insurance producer program of study approval, including subject matter and course material standards.
- Requires a $25 filing fee for program of study applications.
- Creates a provider authorization fee for approved continuing education programs.
- Provides a 90-day grace period for producers who have not met continuing education requirements.
- Outlines specific circumstances under which continuing education requirements may be waived.
- Establishes procedures for monitoring classroom instruction during continuing education programs.
Bill text
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- Senate Introduced Bill
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