House Bill 1084

(As Passed the House)

AN ACT TO AMEND SECTION 83-17-251, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT ANY INDIVIDUAL WHO IS SIXTY FIVE YEARS OF AGE OR OLDER AND WHO HAS BEEN LICENSED AS AN INSURANCE PRODUCER FOR A CONTINUOUS PERIOD OF TWENTY YEARS OR MORE AS OF JULY 1, 2023, AS EVIDENCED BY SUBMISSION OF AN AFFIDAVIT, UNDER OATH, ON A FORM PRESCRIBED BY THE COMMISSIONER, SIGNED BY THE LICENSEE ATTESTING TO SATISFACTION OF THE AGE, LICENSING AND EXPERIENCE REQUIREMENTS SHALL NOT BE REQUIRED TO COMPLETE THE CONTINUING EDUCATION REQUIREMENTS OF AN INSURANCE PRODUCER; TO BRING FORWARD SECTIONS 83-17-255, 83-17-259, 83-17-415 AND 83-17-513, MISSISSIPPI CODE OF 1972, FOR THE PURPOSE OF POSSIBLE AMENDMENT; 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 an 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 twenty (20) hours of approved prelicensing education courses per line of authority. The Commissioner of Insurance shall determine the content requirements for each prelicensing course of study. The prelicensing educational requirements of this section shall not apply to:

(a) An individual that is exempt from taking the written examination as provided in Section 83-17-39(1) and Section 83-17-67.

(b) An individual who has received a bachelor's degree with major coursework in insurance from an accredited institution of higher learning.

(c) An individual holding a current and valid CEBS, CHFC, CIC, CFP, CLU, FLMI, LUTCF designation is exempt for the life line of authority.

(d) An individual holding a current and valid RHU, CEBS, REBC, HIA designation is exempt for the accident and health or sickness line of authority.

(e) An individual holding a current and valid AAI, ARM, CIC, CPCU designation is exempt for the property and casualty lines of authority.

(f) Limited lines insurance producer and limited lines credit insurance producer as defined in Section 83-17-53.

(g) An individual that is seeking licensure for the variable life and variable annuity products line of authority only.

(3) Every individual seeking renewal of an insurance producer license, which has been in effect for a term of eighteen (18) months or less shall satisfactorily complete twelve (12) hours of study in approved continuing education courses. Every individual seeking renewal of an insurance producer license, which has been in effect for a term of more than eighteen (18) months shall satisfactorily complete twenty-four (24) hours of study in approved continuing education courses, of which three (3) hours shall have a course concentration in ethics.

(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), (e) and (g);

(b) Any limited lines producer or limited lines credit insurance producer;

(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; * * *or

(d) Nonactive agents as defined in Section 83-17-1 * * *.; or

(e) Any individual who is sixty-five (65) years of age or older and who has been licensed as an insurance producer for a continuous period of twenty (20) years or more as of July 1, 2023, as evidenced by submission of an affidavit, under oath, on a form prescribed by the commissioner, signed by the licensee attesting to satisfaction of the age, licensing and experience requirements of this paragraph (e).

SECTION 2. Section 83-17-255, Mississippi Code of 1972, is brought forward as follows:

83-17-255. (1) A prelicensing and continuing educational advisory committee, comprised of at least three (3) but not more than seven (7) individuals, may be appointed by and shall serve at the pleasure of the Commissioner of Insurance to advise the commissioner concerning prelicensing and continuing educational standards. Each committee member shall agree to serve a minimum of two (2) years. The chairman of the committee shall be appointed by and shall serve at the pleasure of the commissioner.

(2) A majority of those present at any meeting of the educational advisory committee shall be a quorum for purposes of performing the duties of the committee under this section.

(3) The committee may advise the commissioner on program content and exceptions as permitted under this section.

(4) The committee shall be available to consider other related matters as the commissioner may assign.

SECTION 3. Section 83-17-259, Mississippi Code of 1972, is brought forward as follows:

83-17-259. The Commissioner of Insurance, upon written request, may grant exception to or extend the time in which a licensee must comply with the continuing educational requirements of this section for reasons of poor health, military service or other reasonable and just causes.

SECTION 4. Section 83-17-415, Mississippi Code of 1972, is brought forward as follows:

83-17-415. The commissioner shall adopt a procedure for certifying continuing education programs. Each individual seeking renewal of an adjuster license, which has been in effect for a term of eighteen (18) months or less shall satisfactorily complete twelve (12) hours of study in approved continuing education courses. Every individual seeking renewal of an adjuster license, which has been in effect for a term of more than eighteen (18) months shall satisfactorily complete twenty-four (24) hours of study in approved continuing education courses, of which three (3) hours shall have a course concentration in ethics.

SECTION 5. Section 83-17-513, Mississippi Code of 1972, is brought forward as follows:

83-17-513. The commissioner shall adopt a procedure for certifying continuing education programs for public adjusters. Every individual seeking renewal of a public adjuster license, which has been in effect for a term of eighteen (18) months or less shall satisfactorily complete twelve (12) hours of study in approved continuing education courses. Every individual seeking renewal of a public adjuster license, which has been in effect for a term of more than eighteen (18) months shall satisfactorily complete twenty-four (24) hours of study in approved continuing education courses of which three (3) hours shall have a course concentration in ethics.

SECTION 6. This act shall take effect and be in force from and after its passage.