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S04365 Summary:

S04365 Actions:

S04365 Committee Votes:

S04365 Floor Votes:

S04365 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          4365
 
                               2019-2020 Regular Sessions
 
                    IN SENATE
 
                                     March 11, 2019
                                       ___________
 
        Introduced  by  Sens. BRESLIN, BROOKS -- read twice and ordered printed,
          and when printed to be committed to the Committee on Insurance
 
        AN ACT to amend the insurance  law,  in  relation  to  the  granting  of
          continuing  education  credits  by  the  superintendent  of  financial
          services

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1.  Subsection  (c)  of  section 2132 of the insurance law is
     2  amended by adding a new paragraph 4 to read as follows:
     3    (4) The superintendent shall grant three credit hours for a licensees'
     4  active membership in a statewide professional insurance producer associ-
     5  ation, per biennial period.
     6    (A) For the purpose  of  this  paragraph,  a  "statewide  professional
     7  insurance  producer association" shall be defined as an association that
     8  has been in existence for at least ten years, which derives its  member-
     9  ship  from  amongst  those  persons  that  have been issued an insurance
    10  producer's license by the superintendent, and which is dedicated to  the
    11  promotion  of  the integrity, trust, professionalism and business inter-
    12  ests of its membership through education, advocacy,  social  interaction
    13  and  the  development of ethical and sound business practices including,
    14  but not limited to, a professional publication or journal that is issued
    15  not less than four times a year; issuance of not less than six  guidance
    16  or  fact-based  policy  statements  or instructional memoranda on topics
    17  pertaining to professional  practice,  customer  service,  ethics  or  a
    18  substantive  issue;  or distribution of not less than twelve such state-
    19  ments or memoranda produced by another organization.
    20    (B) For the purpose of this paragraph, 'active membership' means:  (i)
    21  certification  by the licensee to the superintendent that the member was
    22  in good standing with dues paid in full for the previous biennial  peri-
    23  od;  (ii)  certification  to the superintendent by the licensee that the
    24  member has read the professional insurance producer  association's  code
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD09479-01-9
        S. 4365                             2
 
     1  of ethics; and (iii) certification to the superintendent by the licensee
     2  that  the licensee has attended at least one course, program of instruc-
     3  tion or seminar that meets the requirements of this section sponsored by
     4  the  professional  insurance  producer  association each year during the
     5  previous biennial period.
     6    (C) The professional insurance producer association  shall  file  with
     7  the  superintendent  annually,  by  January  thirty-first, a list of all
     8  members in good standing for the previous  year,  the  current  code  of
     9  ethics,  and any other information that the superintendent shall require
    10  in order to implement the provisions of this paragraph.
    11    § 2. This act shall take effect immediately.