Senate Bill 2423

(As Passed the Senate)

AN ACT TO AMEND SECTION 83-17-251, MISSISSIPPI CODE OF 1972, TO REVISE THE CONTINUING EDUCATION REQUIREMENTS FOR PROPERTY AND CASUALTY INSURANCE PRODUCERS BY REQUIRING FLOOD INSURANCE STUDY; TO EXEMPT FROM CONTINUING EDUCATION INSURANCE AGENTS WHO ARE 65 YEARS OF AGE OR OLDER AND HAVE HELD AN AGENT'S LICENSE FOR AT LEAST TEN YEARS; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. Section 83-17-251, Mississippi Code of 1972, is amended as follows:

83-17-251. (1) Every individual seeking to be licensed as a life, health and accident insurance producer in the State of Mississippi, as a condition of issuance of an original license, must furnish the Commissioner of Insurance certification on a form prescribed by the commissioner that he or she has completed an approved prelicensing course of study for the line of insurance requested.

(2) The prelicensing course of study hours shall consist of no less than twenty-four (24) classroom hours for life and/or health/accident insurance or property and casualty insurance. Twelve (12) classroom hours are required on life only; and twelve (12) classroom hours are required for health/accident only.

(3) Every individual seeking annual renewal of life, health and accident licenses, or annual renewal of property and casualty licenses, shall complete satisfactorily twelve (12) hours of study in approved courses in his primary line of insurance during each twelve-month period except the initially licensed year. The individual may take an additional twelve (12) hours in his secondary line of insurance. All holders of a property and casualty license shall be required to satisfactorily complete three (3) hours of flood insurance study every three (3) years, which may be applied towards their continuing education requirements.

(4) The continuing educational requirements of this section shall not apply to:

(a) Any individual that is exempt from taking the written examination as provided in Section 83-17-39(1)(b), (c) and (e) * * *;

(b) Any individual that is licensed with a license limited to industrial life, industrial health and accident, small loan property, industrial fire and full-coverage auto;

(c) A person not a resident of this state who meets the continuing educational requirement in the state in which such person resides and Mississippi has a reciprocal agreement with that state; * * *

(d) Inactive agents as defined in Section 83-17-1; or

(e) Any licensee who is sixty-five (65) years of age or older and has held an agent's license in this state for at least ten (10) years.

SECTION 2. This act shall take effect and be in force from and after July 1, 2006.