House Bill 1084

(As Sent to Governor)

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-FIVE YEARS OR MORE AS OF THE EFFECTIVE DATE OF THIS ACT, 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 AMEND SECTION 73-35-18, MISSISSIPPI CODE OF 1972, TO EXEMPT FROM THE CONTINUING EDUCATION REQUIREMENTS FOR REAL ESTATE LICENSURE THOSE PERSONS WHO HAVE HELD A REAL ESTATE BROKER'S OR SALESPERSON'S LICENSE IN THIS STATE FOR AT LEAST TWENTY-FIVE YEARS AND WHO ARE AT LEAST SIXTY-FIVE YEARS OF AGE; 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-five (25) years or more as of the effective date of this act, 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 73-35-18, Mississippi Code of 1972, is amended as follows:

73-35-18. (1) Each individual applicant for renewal of a license issued by the Mississippi Real Estate Commission shall, on or before the expiration date of his license, or at a time directed by the commission, submit proof of completion of not less than sixteen (16) clock hours of approved course work to the commission, in addition to any other requirements for renewal. The sixteen (16) clock hours' course work requirement shall apply to each two-year license renewal, and hours in excess thereof shall not be cumulated or credited for the purposes of subsequent license renewals except as provided in this subsection (1). The commission shall develop standards for approval of courses and shall require certification of such course work of the applicant. The commission may determine any required subject matter within the mandated sixteen (16) hours; provided that the required subjects shall not exceed eight (8) hours of the total sixteen (16) hours. Approved continuing education hours earned in the final three (3) months of a licensee's renewal period, if in excess of the required minimum sixteen (16) hours, may be carried over and credited to the next renewal period. However, no more than six (6) hours may be carried over in this manner. Any member of the Mississippi Legislature who has a real estate license shall be credited with eight (8) hours of credit for the attendance of each year of a legislative session. No person may receive continuing education credit for prelicense education courses taken, except as follows: a licensee whose license is on inactive status and whose continuing education credits are at least thirty (30) hours in arrears may, at the discretion of the commission, receive continuing education credit for retaking prelicense coursework, provided the entire prelicense course is retaken.

(2) This section shall apply to renewals of licenses which expire on and after July 1, 1994; however, an applicant for first renewal who has been licensed for not more than one (1) year shall not be required to comply with this section for the first renewal of the applicant's license. The provisions of this section shall not apply to persons who have held a broker's or salesperson's license in this state for at least twenty-five (25) years and who are * * * ~~older than seventy (70)~~ at least sixty-five (65) years of age. Inactive licensees are not required to meet the real estate continuing education requirements specified in this section; however, such inactive licensees, before activating their license to active status, must cumulatively meet requirements missed during the period their license was inactive.

(3) A renewal of a license issued by the commission which expires after June 30, 2019, must include a current email address for the applicant. Any email address previously provided by an applicant to the commission which is no longer valid or the primary email address of the applicant must be updated when a renewal application is submitted under this section.

(4) The commission shall promulgate rules and regulations as necessary to accomplish the purposes of this section in accordance with the Mississippi Administrative Procedures Law.

(5) [Repealed]

SECTION 3. This act shall take effect and be in force from and after its passage.