2001 Legislation
Print Friendly

HOUSE BILL NO. 186 – Insurance producer/consult, records

HOUSE BILL NO. 186

View Daily Data Tracking History

View Bill Text

View Statement of Purpose / Fiscal Impact



Text to be added within a bill has been marked with Bold and
Underline. Text to be removed has been marked with
Strikethrough and Italic. How these codes are actually displayed will
vary based on the browser software you are using.

This sentence is marked with bold and underline to show added text.

This sentence is marked with strikethrough and italic, indicating
text to be removed.

Daily Data Tracking History



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

Bill Text


                                                                        
                                                                        
  ||||              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 / Fiscal Impact


                       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