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S1342.......................................by COMMERCE AND HUMAN RESOURCES
INSURANCE - Amends existing law to specify which persons may, for a fee,
offer advice or other services regarding the benefits and disadvantages of
insurance policies.
01/30 Senate intro - 1st rdg - to printing
01/31 Rpt prt - to Com/HuRes
02/13 Rpt out - rec d/p - to 2nd rdg
02/14 2nd rdg - to 3rd rdg
02/19 3rd rdg - PASSED - 28-3-4
AYES -- Andreason, Boatright, Branch(Bartlett), Brandt, Bunderson,
Burtenshaw, Cameron, Darrington, Davis, Deide, Dunklin, Geddes,
Goedde, Hill, Ingram, Ipsen, Keough, King-Barrutia, Little, Lodge,
Marley, Noh, Richardson, Schroeder, Sorensen, Stennett, Thorne,
Wheeler
NAYS -- Sims, Stegner, Williams
Absent and excused -- Frasure, Hawkins, Risch, Sandy
Floor Sponsor - Goedde
Title apvd - to House
02/20 House intro - 1st rdg - to Bus
03/06 Rpt out - rec d/p - to 2nd rdg
03/07 2nd rdg - to 3rd rdg
03/08 3rd rdg - PASSED - 54-1-15
AYES -- Aikele, Barraclough, Bedke, Bell, Bieter, Black, Block, Bolz,
Bradford, Bruneel, Callister, Campbell, Collins, Cuddy, Deal, Denney,
Ellis, Ellsworth, Eskridge, Field(13), Field(20), Gagner, Hadley,
Hammond, Harwood, Higgins, Jaquet, Kellogg(Duncan), Kunz, Lake,
Langford, Loertscher, Martinez, McKague, Montgomery, Moyle, Pearce,
Pischner, Pomeroy, Raybould, Ridinger, Robison, Sali, Schaefer,
Shepherd, Smith(33), Smith(23), Smylie, Stevenson, Stone, Tilman,
Trail, Wheeler, Young
NAYS -- Henbest
Absent and excused -- Barrett, Boe, Clark, Crow, Gould, Hornbeck,
Jones, Kendell, Mader, Meyer, Mortensen, Roberts, Sellman, Wood, Mr.
Speaker
Floor Sponsor - Kellogg(Duncan)
Title apvd - to Senate
03/11 To enrol
03/12 Rpt enrol - Pres signed - Sp signed
03/13 To Governor
03/26 Governor signed
Session Law Chapter 282
Effective: 07/01/02
|||| LEGISLATURE OF THE STATE OF IDAHO ||||
Fifty-sixth Legislature Second Regular Session - 2002
IN THE SENATE
SENATE BILL NO. 1342
BY COMMERCE AND HUMAN RESOURCES COMMITTEE
1 AN ACT
2 RELATING TO INSURANCE; AMENDING SECTION 41-1004, IDAHO CODE, TO PROVIDE THAT
3 ONLY SPECIFIED PERSONS MAY ENGAGE FOR A FEE IN THE BUSINESS OF OFFERING
4 ADVICE, COUNSEL, OPINION OR SERVICE REGARDING THE BENEFITS, ADVANTAGES OR
5 DISADVANTAGES OF INSURANCE POLICIES.
6 Be It Enacted by the Legislature of the State of Idaho:
7 SECTION 1. That Section 41-1004, Idaho Code, be, and the same is hereby
8 amended to read as follows:
9 41-1004. LICENSE REQUIRED. (1) A person shall not sell, solicit or nego-
10 tiate insurance in this state for any class or classes of insurance unless the
11 person is licensed as a producer for that line of authority in accordance with
12 this chapter.
13 (2) A person shall not, for a fee, engage in the business of offering any
14 advice, counsel, opinion or service with respect to the benefits, advantages
15 or disadvantages under any policy of insurance that could be issued in Idaho
16 unless that person is:
17 (a) A licensed insurance producer offering advice concerning a class of
18 insurance as to which the producer is licensed to transact business in
19 this state;
20 (b) An attorney rendering services in the performance of the duties of an
21 attorney;
22 (c) A certified public accountant rendering services in the performance
23 of the duties of a certified public accountant, as authorized by law;
24 (d) An actuary rendering actuarial services if such actuary is a member
25 of an organization determined by the director as establishing standards
26 for the actuarial profession;
27 (e) A person providing services to producers or authorized insurers only;
28 (f) A person rendering services as an expert pursuant to the Idaho rules
29 of evidence; or
30 (g) An investment adviser, investment adviser representative or
31 federally-covered investment adviser as defined in section 30-1402, Idaho
32 Code.
STATEMENT OF PURPOSE
RS 11757
This proposed legislation is intended to correct a deficiency in
the Producer Licensing bill (HE35) passed in the 2001 session.
Insurance consultant licensing was deleted in HB35 but Idaho Code
did not address or require a producer license to advise or consult
on insurance matters. With the inclusion of advising and consulting
in practices which require a license, a number of exemptions were
added to limit duplicate licensing in other professional fields.
FISCAL IMPACT
None
Contact
Name: John Goedde
Phone: 332-1355
STATEMENT OF PURPOSE/FISCAL NOTE S 1342