Bill Text: NY S04365 | 2019-2020 | General Assembly | Introduced
Bill Title: Relates to authorizing the superintendent of financial services to grant three credit hours of continuing education for a licensees' active membership in a statewide professional insurance producer association.
Spectrum: Partisan Bill (Democrat 3-0)
Status: (Vetoed) 2019-11-25 - VETOED MEMO.162 [S04365 Detail]
Download: New_York-2019-S04365-Introduced.html
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. LBD09479-01-9S. 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.
