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H0089...........................................................by BUSINESS
INSURANCE - LIFE/DISABILITY - Amends existing law relating to the
Department of Insurance to provide language applicable to records
maintenance; and to remove the exemption from recordkeeping requirements
for life and disability insurance.
02/01 House intro - 1st rdg - to printing
02/02 Rpt prt - to Bus
02/26 Rpt out - rec d/p - to 2nd rdg
02/27 2nd rdg - to 3rd rdg
02/28 3rd rdg - PASSED - 69-0-1
AYES -- Anderson, Andrus, Barrett, Bayer, Bedke, Bell, Bilbao, Black,
Block, Bock, Boe, Bolz, Brackett, Bradford, Chadderdon, Chavez, Chew,
Clark, Collins, Crane, Durst, Edmunson, Eskridge, Hagedorn, Hart,
Harwood, Henbest, Henderson, Jaquet, Killen, King, Kren, Labrador,
Lake, LeFavour, Loertscher, Luker, Marriott, Mathews, McGeachin,
Mortimer, Moyle, Nielsen, Nonini, Pasley-Stuart, Patrick, Pence,
Raybould, Ring, Ringo, Roberts, Ruchti, Rusche, Sayler, Schaefer,
Shepherd(2), Shepherd(8), Shirley, Shively, Smith(30), Smith(24),
Snodgrass, Stevenson, Thayn, Trail, Vander Woude, Wood(27), Wood(35),
Mr. Speaker
NAYS -- None
Absent and excused -- Wills
Floor Sponsor - Bilbao
Title apvd - to Senate
03/01 Senate intro - 1st rdg - to Com/HuRes
03/16 Rpt out - rec d/p - to 2nd rdg
03/19 2nd rdg - to 3rd rdg
03/21 3rd rdg - PASSED - 35-0-0
AYES -- Andreason, Bair, Bastian, Bilyeu, Broadsword, Burkett,
Cameron, Coiner, Corder, Darrington, Davis, Fulcher, Gannon, Geddes,
Goedde, Hammond, Heinrich, Hill, Jorgenson, Kelly, Keough, Langhorst,
Little, Lodge, Malepeai, McGee, McKague, McKenzie, Pearce,
Richardson, Schroeder, Siddoway, Stegner, Stennett, Werk
NAYS -- None
Absent and excused -- None
Floor Sponsor - Cameron
Title apvd - to House
03/22 To enrol - Rpt enrol - Sp signed
03/23 Pres signed
03/26 To Governor
03/30 Governor signed
Session Law Chapter 278
Effective: 07/01/07
]]]] LEGISLATURE OF THE STATE OF IDAHO ]]]]
Fifty-ninth Legislature First Regular Session - 2007
IN THE HOUSE OF REPRESENTATIVES
HOUSE BILL NO. 89
BY BUSINESS COMMITTEE
1 AN ACT
2 RELATING TO THE DEPARTMENT OF INSURANCE; AMENDING SECTION 41-1036, IDAHO CODE,
3 TO PROVIDE LANGUAGE APPLICABLE TO RECORDS MAINTENANCE AND TO REMOVE THE
4 EXEMPTION FROM RECORDKEEPING REQUIREMENTS FOR LIFE AND DISABILITY INSUR-
5 ANCE.
6 Be It Enacted by the Legislature of the State of Idaho:
7 SECTION 1. That Section 41-1036, Idaho Code, be, and the same is hereby
8 amended to read as follows:
9 41-1036. RECORDS. (1) A producer holding a license under this chapter
10 shall make available through his principal place of business complete records
11 of transactions placed through or countersigned by the producer.
12 (2) Records as provided in subsection (1) of this section shall include,
13 but not be limited to:
14 (a) The names and addresses of insurer and insured;
15 (b) The number and expiration date of the policy or contract;
16 (c) The premium payable as to the policy or contract;
17 (d) The date, time, insurer, insured and coverage of every binder made by
18 the producer;
19 (e) All disclosures made by a producer to an insured or to a prospective
20 insured; and
21 (f) Such other information as the director may reasonably require.
22 (3) The records shall be kept available for inspection by the director
23 for at least five (5) years after the creation or the completion, whichever is
24 later, of the respective transactions. The records may be maintained off-site
25 and in electronic form if the records can be made available for inspection
26 through the producer's principal place of business upon reasonable notice by
27 the director.
28 (4) This section shall not apply to life and disability insurance.
STATEMENT OF PURPOSE
RS 16481C1
This proposal amends existing law that requires producers to
maintain business records and make them available to the
director for five years. Currently, the requirements do not
apply to records concerning life and disability insurance. The
amendment would eliminate the current exemption for life and
disability insurance so that the record keeping requirement
would apply to all insurance records of producers. The proposed
changes also clarify that records may be maintained off-site in
electronic form if the producers can make them available for
inspection upon reasonable notice by the director.
FISCAL NOTE
No fiscal impact.
CONTACT
Name: Shad Priest
Agency: Insurance, Dept. of
Phone: 334-4214
STATEMENT OF PURPOSE/FISCAL NOTE H 89