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Public Act 099-0161
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| HB4015 Enrolled | LRB099 07126 MLM 27213 b |
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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(Section scheduled to be repealed on January 1, 2017)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
|
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;
|
(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
|
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.
|
(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.
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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.
|
(Source: P.A. 98-159, eff. 8-2-13; 98-756, eff. 7-16-14.)
|
(Text of Section after amendment by P.A. 98-1165) |
(Section scheduled to be repealed on January 1, 2017)
|
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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