Insurance licensing, biennial; renewal for individuals and business entities, etc. (SB1222)

Introduced By

Sen. Ben Chafin (R-Lebanon)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Insurance licensing and continuing education course requirements. Requires the biennial renewal, for individuals and business entities, of licenses by insurance agents, consultants, public adjusters, surplus lines brokers, and viatical settlement brokers by a producer's year and month of birth. The measure also requires fingerprinting for the purpose of conducting state and federal criminal background checks on new resident applicants. The measure establishes fees for processing license renewal applications, requires proof of compliance with continuing education requirements, addresses reinstatement of licenses, and provides for waivers of certain requirements. The measure requires licensed persons to report changes in their name or address. The measure provides that the registration fee for settlement agents will be prescribed by the Commission and that the Commission will retain the authority to enforce these provisions against any person who is under investigation for or charged with a violation. The measure also revises the timeline for completion of insurance continuing education courses to require completion biennially, based on an insurance agent's year and month of birth. The measure modifies the membership of the insurance continuing education board and the criteria for selection by the State Corporation Commission of the same. The measure also includes clarifications and removes obsolete requirements. The bill has a delayed effective date of January 1, 2021. The bill incorporates SB 1747. Amends § 19.2-389, § 38.2-1819, § 38.2-1820, § 38.2-1824, § 38.2-1826, § 38.2-1838, § 38.2-1840, § 38.2-1841, § 38.2-1842, § 38.2-1845.17, § 38.2-1845.2, § 38.2-1845.22, § 38.2-1845.8, § 38.2-1845.9, § 38.2-1857.2, § 38.2-1857.5, § 38.2-1857.9, § 38.2-1865.1, § 38.2-1865.5, § 38.2-1876, § 55-525.30, of the Code of Virginia. Read the Bill »

Status

03/21/2019: Awaiting a Vote in the Commerce and Labor Committee

History

DateAction
01/04/2019Prefiled and ordered printed; offered 01/09/19 19103129D
01/04/2019Referred to Committee on Commerce and Labor
01/25/2019Impact statement from SCC (SB1222)
01/28/2019Impact statement from SCC (SB1222)
01/29/2019Impact statement from SCC (SB1222)
01/31/2019Reported from Commerce and Labor with substitute (15-Y 0-N) (see vote tally)
01/31/2019Committee substitute printed 19105707D-S1
02/01/2019Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/04/2019Read second time
02/04/2019Reading of substitute waived
02/04/2019Committee substitute agreed to 19105707D-S1
02/04/2019Engrossed by Senate - committee substitute SB1222S1
02/04/2019Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/04/2019Passed Senate (40-Y 0-N) (see vote tally)
02/06/2019Placed on Calendar
02/06/2019Read first time
02/06/2019Referred to Committee on Commerce and Labor
02/10/2019Impact statement from SCC (SB1222S1)
02/12/2019Reported from Commerce and Labor (22-Y 0-N) (see vote tally)
02/12/2019Read second time
02/13/2019Read third time
02/13/2019Passed House BLOCK VOTE (98-Y 0-N)
02/13/2019VOTE: BLOCK VOTE PASSAGE (98-Y 0-N) (see vote tally)
02/18/2019Enrolled
02/18/2019Bill text as passed Senate and House (SB1222ER)
02/18/2019Signed by Speaker
02/19/2019Impact statement from SCC (SB1222ER)
02/19/2019Signed by President
02/20/2019G Governor's Action Deadline Midnight, March 25, 2019
02/20/2019Enrolled Bill Communicated to Governor on February 20, 2019
02/20/2019G Governor's Action Deadline Midnight, March 26, 2019

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