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ACT NO. 87

(H.610)

Licensing and Continuing Education of Insurance Agents and Brokers

This act changes from one year to two years the term of the license issued to insurance agents, brokers, surplus lines insurance brokers, managing general agents, reinsurance intermediaries, limited insurance representatives, consultants, insurance adjusters, and insurance appraisers. The act also requires that applicants for an agent or broker license demonstrate satisfactory completion of 24 hours of continuing education during the preceding two years.

Effective Date: January 1, 2001 with respect to the biennial licensing of insurance agents and January 1, 2002 with respect to all other insurance license types. The continuing education requirements shall apply to applicants for license renewal on and after October 1, 2002.