Chapter 081

2003 -- S 0435

Enacted 07/01/03

A N A C T

RELATING TO INSURANCE -- PRODUCER LICENSING ACT

Introduced By: Senators Bates, Perry, and Parella

Date Introduced: February 13, 2003

It is enacted by the General Assembly as follows:

     SECTION 1. Section 27-2.4-17 of the General Laws in Chapter 27-2.4 entitled "Producer

Licensing Act" is hereby amended to read as follows:

27-2.4-17. Reciprocity. -- (a) The insurance commissioner shall only assess fees for an

insurance producer license or related service to a person not residing in this state based on section

27-2.4-4. waive any requirements for a nonresident license applicant with a valid license from

his or her home state, except the requirements imposed by section 27-2.4-10, if the applicant’s

home state awards nonresident licenses to residents of this state on the same basis.

      (b) A nonresident insurance producer's satisfaction of his or her home state's continuing

education requirements for licensed insurance producers shall constitute satisfaction of this state's

continuing education requirements if the nonresident insurance producer's home state recognizes

the satisfaction of its continuing education requirements imposed upon insurance producers from

this state on the same basis.

     SECTION 2. This act shall take effect upon passage.

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LC02130

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