Bill Text: HI SB2493 | 2018 | Regular Session | Amended

Hawaii Senate Bill 2493 (Prior Session Legislation)

Bill Title: Relating To Insurance.

Spectrum: Partisan Bill (Democrat 4-0)

Status: (Engrossed - Dead) 2018-03-21 - Passed Second Reading as amended in HD 1 and referred to the committee(s) on FIN with none voting aye with reservations; none voting no (0) and Representative(s) Ing, C. Lee, McKelvey, Souki, Todd, Ward excused (6). [SB2493 Detail]

Download: Hawaii-2018-SB2493-Amended.html

THE SENATE	S.B. NO.	2493
TWENTY-NINTH LEGISLATURE, 2018		S.D. 2
STATE OF HAWAII		H.D. 1

A BILL FOR AN ACT

RELATING TO INSURANCE.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

SECTION 1. The legislature finds that, among other things, Act 152, Session Laws of Hawaii 2017, conforms the State's producer licensing requirements to the National Association of Insurance Commissioners' Producer Licensing Model Act by eliminating producer-to-producer appointments. However, there are thousands of contracts between insurers and independent producers that must be finalized before these producer licensing requirements take effect on January 1, 2019. The legislature further finds that, due to the large number of independent producers in Hawaii, concerns have been expressed that full compliance by this date may not be possible.

Accordingly, the purpose of this Act is to delay the implementation of the producer licensing requirements amended by Act 152 until January 1, 2020.

SECTION 2. Act 152, Session Laws of Hawaii 2017, is amended by amending section 12 to read as follows:

"SECTION 12. This Act shall take effect on July 1, 2017; provided that sections 7, 8, and 9 shall take effect on [~~January 1, 2019.~~] January 1, 2020."

SECTION 3. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 4. This Act shall take effect on July 1, 2050.

Report Title:

Insurance; Producer Licensing; Producer Licensing Model Act

Description:

Postpones until 1/1/2020 the effective date of certain provisions of Act 152, Session Laws of Hawaii 2017, that conform Hawaii's insurance producer licensing requirements to national model standards by eliminating the ability of insurance producers to appoint other producers to act as an agent of an insurer. (SB2493 HD1)

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.