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H0186...........................................................by BUSINESS
INSURANCE PRODUCERS/CONSULTANTS - Amends and adds to existing law to
provide that certain licensed insurance producers and insurance consultants
shall make available for inspection certain records.
02/08 House intro - 1st rdg - to printing
02/09 Rpt prt - to Bus
02/22 Rpt out - rec d/p - to 2nd rdg
02/23 2nd rdg - to 3rd rdg
03/05 3rd rdg - PASSED - 59-0-11
AYES -- Barraclough, Barrett, Bedke, Bell, Bieter, Black, Boe, Bolz,
Bradford, Bruneel, Callister, Campbell, Chase, Clark, Collins, Crow,
Cuddy, Deal, Denney, Ellis, Ellsworth, Eskridge, Field(13),
Field(20), Gagner, Hadley, Hammond, Harwood, Henbest, Hornbeck,
Jaquet, Jones, Kellogg, Kendell, Kunz, Lake, Langford, Loertscher,
Marley, McKague, Meyer, Moss, Moyle, Pischner, Pomeroy, Ridinger,
Robison, Sali, Schaefer, Sellman, Shepherd, Smith, Stone, Swan,
Tilman, Trail, Wood, Young, Mr. Speaker
NAYS -- None
Absent and excused -- Gould, Higgins, Mader, Montgomery, Mortensen,
Pearce, Raybould, Roberts, Smylie, Stevenson, Wheeler
Floor Sponsor -- Collins
Title apvd - to Senate
03/06 Senate intro - 1st rdg - to Com/HuRes
03/12 Rpt out - rec d/p - to 2nd rdg
03/13 2nd rdg - to 3rd rdg
03/20 3rd rdg - PASSED - 35-0-0
AYES -- Andreason, Branch, Boatright, Brandt, Bunderson, Burtenshaw,
Cameron, Danielson, Darrington, Davis, Deide, Dunklin, Frasure,
Geddes, Goedde, Hawkins, Ingram, Ipsen, Keough, King-Barrutia, Lee,
Lodge, Noh, Richardson, Risch, Sandy, Schroeder, Sims, Sorensen,
Stegner, Stennett, Thorne, Wheeler, Whitworth, Williams,
NAYS -- None
Absent and excused -- None
Floor Sponsor -- Ipsen
Title apvd - to House
03/21 To enrol
03/22 Rpt enrol - Sp signed - Pres signed - to Gov
03/23 Governor signed
Session Law Chapter 162
Effective: 07/01/01
|||| LEGISLATURE OF THE STATE OF IDAHO ||||
Fifty-sixth Legislature First Regular Session - 2001
IN THE HOUSE OF REPRESENTATIVES
HOUSE BILL NO. 186
BY BUSINESS COMMITTEE
1 AN ACT
2 RELATING TO INSURANCE PRODUCER AND INSURANCE CONSULTANT LICENSING; AMENDING
3 CHAPTER 10, TITLE 41, IDAHO CODE, AS ADDED BY HOUSE BILL 35, AS ENACTED BY
4 THE FIRST REGULAR SESSION OF THE FIFTY-SIXTH IDAHO LEGISLATURE, BY THE
5 ADDITION OF A NEW SECTION 41-1036, IDAHO CODE, TO PROVIDE THAT CERTAIN
6 LICENSED PRODUCERS AND CONSULTANTS SHALL MAKE AVAILABLE FOR INVESTIGATION
7 CERTAIN RECORDS; AND AMENDING SECTION 41-1036, IDAHO CODE, AS ADDED BY
8 HOUSE BILL 35, AS ENACTED BY THE FIRST REGULAR SESSION OF THE FIFTY-SIXTH
9 IDAHO LEGISLATURE, TO REDESIGNATE THE SECTION.
10 Be It Enacted by the Legislature of the State of Idaho:
11 SECTION 1. That Chapter 10, Title 41, Idaho Code, as added by House Bill
12 35, as enacted by the First Regular Session of the Fifty-sixth Idaho Legisla-
13 ture, be, and the same is hereby amended by the addition thereto of a NEW SEC-
14 TION, to be known and designated as Section 41-1036, Idaho Code, and to read
15 as follows:
16 41-1036. RECORDS. (1) Every person holding a license under this chapter
17 shall make available through his principal place of business:
18 (a) If a producer, complete records of transactions placed through or
19 countersigned by the producer; and
20 (b) If a consultant, complete records of subjects of insurance on which
21 the consultant has acted.
22 (2) Records as provided in subsection (1) of this section shall include,
23 but not be limited to:
24 (a) The names and addresses of insurer and insured;
25 (b) The number and expiration date of the policy or contract;
26 (c) The premium payable as to the policy or contract and fee payable as
27 to consulting services;
28 (d) The date, time, insurer, insured and coverage of every binder made by
29 the producer;
30 (e) All disclosures made by a producer to an insured or to a prospective
31 insured or by a consultant to any person; and
32 (f) Such other information as the director may reasonably require.
33 (3) The records shall be kept available for inspection by the director
34 for at least five (5) years after the creation or the completion, whichever is
35 later, of the respective transactions or consulting services.
36 (4) This section shall not apply to life and disability insurance.
37 SECTION 2. That Section 41-1036, Idaho Code, as added by House Bill 35,
38 as enacted by the First Regular Session of the Fifty-sixth Idaho Legislature,
39 be, and the same is hereby amended to read as follows:
40 41-10367. SEVERABILITY. If any provision of this chapter or its applica-
41 tion to any person or circumstance is held invalid, the invalidity does not
2
1 affect other provisions or applications of this chapter which can be given
2 effect without the invalid provision or application, and to this end the pro-
3 visions of this chapter are severable.
STATEMENT OF PURPOSE
RS 10590C1
This is a "trailer" bill to H.B. 35 which repeals former Chapter
10, Title 41, Idaho Code, applicable to insurance agents, brokers
and consultants; and rewrites this Chapter for producer and
consultant licensing to effectuate producer licensing reciprocity
and conformity with the requirements of the federal Grarnrn-Leach-
Bliley Act enacted November 12, 1999. This "trailer" bill amends
H.B. 35 to require certain producers and consultants to make
certain records available, and is substantially similar to a prior
requirement applicable to agents.
FISCAL IMPACT
it is expected that this proposed legislation will have no fiscal
impact on the general fund.
STATEMENT OF PURPOSE/FISCAL NOTE H 186
Contact: Jim Genetti
Department of Insurance
(208) 334 4250