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| Public Act 099-0161 | ||||
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AN ACT concerning regulation.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The Illinois Insurance Code is amended by | ||||
changing Section 500-100 as follows:
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(215 ILCS 5/500-100)
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(Text of Section before amendment by P.A. 98-1165) | ||||
(Section scheduled to be repealed on January 1, 2017)
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Sec. 500-100. Limited lines producer license.
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(a) An individual who is at least 18 years of age and whom | ||||
the Director
considers to
be competent, trustworthy, and of | ||||
good business reputation may obtain a limited
lines producer
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license for one or more of the following classes:
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(1) insurance on baggage or limited travel health, | ||||
accident, or trip
cancellation
insurance sold in | ||||
connection with transportation provided by a common | ||||
carrier;
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(2) industrial life insurance, as defined in Section | ||||
228 of this Code;
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(3) industrial accident and health insurance, as | ||||
defined in
Section 368 of this
Code;
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(4) insurance issued by a company organized under the | ||||
Farm Mutual
Insurance Company Act of 1986;
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(5) legal expense insurance;
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(6) enrollment of recipients of public aid or medicare | ||
in a health
maintenance
organization;
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(7) a limited health care plan issued by an | ||
organization having a
certificate of
authority under the | ||
Limited Health Service Organization Act;
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(8) credit life and credit accident and health | ||
insurance and other credit insurance policies approved or | ||
permitted by the Director; a credit insurance company must | ||
conduct a training program in which an applicant shall | ||
receive basic instruction about the credit insurance | ||
products that he or she will be selling. | ||
(b) The application for a limited lines producer license | ||
must be submitted
on a form
prescribed by the Director by a | ||
designee of the insurance company, health
maintenance
| ||
organization, or limited health service organization | ||
appointing the limited
insurance
representative. The insurance | ||
company, health maintenance organization, or
limited health
| ||
service organization must pay the fee required by Section | ||
500-135.
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(c) A limited lines producer may represent more than one | ||
insurance company,
health
maintenance organization, or limited | ||
health service organization.
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(d) An applicant who has met the requirements of this | ||
Section shall be
issued a
perpetual limited lines producer | ||
license.
| ||
(e) A limited lines producer license shall remain in effect | ||
as long as the
appointing
insurance company pays the respective | ||
fee required by Section 500-135 prior to
January 1 of
each | ||
year, unless the license is revoked or suspended pursuant to
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Section 500-70. Failure of the
insurance company to pay the | ||
license fee or to submit the required documents
shall cause
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immediate termination of the limited line insurance producer | ||
license with
respect to which the
failure occurs.
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(f) A limited lines producer license may be terminated by | ||
the insurance
company or
the licensee.
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(g) A person whom the Director considers to be competent, | ||
trustworthy, and
of
good
business reputation may be issued a | ||
car rental limited line license. A car
rental limited line
| ||
license for a rental company shall remain in effect as long as | ||
the car rental
limited line licensee
pays the respective fee | ||
required by Section 500-135 prior to the next fee date
unless | ||
the car rental
license is revoked or suspended pursuant to | ||
Section 500-70. Failure of the car
rental limited line
licensee | ||
to pay the license fee or to submit the required documents | ||
shall cause
immediate
suspension of the car rental limited line | ||
license. A car rental limited line
license for rental
companies | ||
may be voluntarily
terminated by the car rental limited line | ||
licensee. The license fee
shall not be refunded upon | ||
termination of the car rental limited line license
by the car | ||
rental
limited line licensee.
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(g-5) A business entity may be issued a limited lines | ||
producer license for credit life and credit accident and health | ||
insurance and other credit insurance policies approved or | ||
permitted by the Director, provided that: | ||
(1) application for the limited lines producer license | ||
for credit insurance is made on a form specified by the | ||
Director; | ||
(2) the appointing insurance company has paid the | ||
application fee amount required by the Director for the | ||
business entity's application; and | ||
(3) the business entity has designated an individual | ||
with an in force limited license producer license issued | ||
under paragraph (8) of subsection (a) of this Section to be | ||
responsible for the business entity's compliance with the | ||
insurance laws and regulations of this State related to | ||
credit life and credit accident and health insurance and | ||
other credit insurance policies approved or permitted by | ||
the Director that are offered or sold by that business | ||
entity. | ||
Except as specifically authorized by paragraph (8) of | ||
subsection (a) of this Section or this subsection (g-5), a | ||
business entity holding a limited lines license under this | ||
subsection (g-5) may not advertise, represent, or otherwise | ||
hold itself or any of its employees out as licensed insurers, | ||
insurance producers, insurance agents, or insurance brokers. | ||
(h) A limited lines producer issued a license pursuant to | ||
this Section is
not
subject to
the requirements of Section | ||
500-30.
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(i) A limited lines producer license must contain the name, | ||
address and
personal
identification number of the licensee, the | ||
date the license was issued,
general conditions relative
to the | ||
license's expiration or termination, and any other information | ||
the
Director considers
proper. A limited line producer license, | ||
if applicable, must also contain the
name and address of
the | ||
appointing insurance company.
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(Source: P.A. 98-159, eff. 8-2-13; 98-756, eff. 7-16-14.)
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(Text of Section after amendment by P.A. 98-1165) | ||
(Section scheduled to be repealed on January 1, 2017)
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Sec. 500-100. Limited lines producer license.
| ||
(a) An individual who is at least 18 years of age and whom | ||
the Director
considers to
be competent, trustworthy, and of | ||
good business reputation may obtain a limited
lines producer
| ||
license for one or more of the following classes:
| ||
(1) travel insurance, as defined in Section 500-10 of | ||
this Article;
| ||
(2) industrial life insurance, as defined in Section | ||
228 of this Code;
| ||
(3) industrial accident and health insurance, as | ||
defined in
Section 368 of this
Code;
| ||
(4) insurance issued by a company organized under the | ||
Farm Mutual
Insurance Company Act of 1986;
| ||
(5) legal expense insurance;
| ||
(6) enrollment of recipients of public aid or medicare | ||
in a health
maintenance
organization;
| ||
(7) a limited health care plan issued by an | ||
organization having a
certificate of
authority under the | ||
Limited Health Service Organization Act;
| ||
(8) credit life and credit accident and health | ||
insurance and other credit insurance policies approved or | ||
permitted by the Director; a credit insurance company must | ||
conduct a training program in which an applicant shall | ||
receive basic instruction about the credit insurance | ||
products that he or she will be selling. | ||
(b) The application for a limited lines producer license | ||
must be submitted
on a form
prescribed by the Director by a | ||
designee of the insurance company, health
maintenance
| ||
organization, or limited health service organization | ||
appointing the limited
insurance
representative. The insurance | ||
company, health maintenance organization, or
limited health
| ||
service organization must pay the fee required by Section | ||
500-135.
| ||
(c) A limited lines producer may represent more than one | ||
insurance company,
health
maintenance organization, or limited | ||
health service organization.
| ||
(d) An applicant who has met the requirements of this | ||
Section shall be
issued a
perpetual limited lines producer | ||
license.
| ||
(e) A limited lines producer license shall remain in effect | ||
as long as the
appointing
insurance company pays the respective | ||
fee required by Section 500-135 prior to
January 1 of
each | ||
year, unless the license is revoked or suspended pursuant to
| ||
Section 500-70. Failure of the
insurance company to pay the | ||
license fee or to submit the required documents
shall cause
| ||
immediate termination of the limited line insurance producer | ||
license with
respect to which the
failure occurs.
| ||
(f) A limited lines producer license may be terminated by | ||
the insurance
company or
the licensee.
| ||
(g) A person whom the Director considers to be competent, | ||
trustworthy, and
of
good
business reputation may be issued a | ||
car rental limited line license. A car
rental limited line
| ||
license for a rental company shall remain in effect as long as | ||
the car rental
limited line licensee
pays the respective fee | ||
required by Section 500-135 prior to the next fee date
unless | ||
the car rental
license is revoked or suspended pursuant to | ||
Section 500-70. Failure of the car
rental limited line
licensee | ||
to pay the license fee or to submit the required documents | ||
shall cause
immediate
suspension of the car rental limited line | ||
license. A car rental limited line
license for rental
companies | ||
may be voluntarily
terminated by the car rental limited line | ||
licensee. The license fee
shall not be refunded upon | ||
termination of the car rental limited line license
by the car | ||
rental
limited line licensee.
| ||
(g-5) A business entity may be issued a limited lines | ||
producer license for credit life and credit accident and health | ||
insurance and other credit insurance policies approved or | ||
permitted by the Director, provided that: | ||
(1) application for the limited lines producer license | ||
for credit insurance is made on a form specified by the | ||
Director; | ||
(2) the appointing insurance company has paid the | ||
application fee amount required by the Director for the | ||
business entity's application; and | ||
(3) the business entity has designated an individual | ||
with an in force limited license producer license issued | ||
under paragraph (8) of subsection (a) of this Section to be | ||
responsible for the business entity's compliance with the | ||
insurance laws and regulations of this State related to | ||
credit life and credit accident and health insurance and | ||
other credit insurance policies approved or permitted by | ||
the Director that are offered or sold by that business | ||
entity. | ||
Except as specifically authorized by paragraph (8) of | ||
subsection (a) of this Section or this subsection (g-5), a | ||
business entity holding a limited lines license under this | ||
subsection (g-5) may not advertise, represent, or otherwise | ||
hold itself or any of its employees out as licensed insurers, | ||
insurance producers, insurance agents, or insurance brokers. | ||
(h) A limited lines producer issued a license pursuant to | ||
this Section is
not
subject to
the requirements of Section | ||
500-30.
| ||
(i) A limited lines producer license must contain the name, | ||
address and
personal
identification number of the licensee, the | ||
date the license was issued,
general conditions relative
to the | ||
license's expiration or termination, and any other information | ||
the
Director considers
proper. A limited line producer license, | ||
if applicable, must also contain the
name and address of
the | ||
appointing insurance company.
| ||
(Source: P.A. 98-159, eff. 8-2-13; 98-756, eff. 7-16-14; | ||
98-1165, eff. 6-1-15.)
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Section 95. No acceleration or delay. Where this Act makes | ||
changes in a statute that is represented in this Act by text | ||
that is not yet or no longer in effect (for example, a Section | ||
represented by multiple versions), the use of that text does | ||
not accelerate or delay the taking effect of (i) the changes | ||
made by this Act or (ii) provisions derived from any other | ||
Public Act.
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