Please Note: The following summaries of
legislation enacted during the 2004 Legislative Session were prepared by the
Legal Services Division Staff for internal use by the Legislative Service
Office.
This report is not an official publication of the Wyoming
Legislature and does not purport to be an official statement of legislative
intent concerning any measure enacted
by the Legislature.
The bill summaries contained in this report were prepared as an aid to locating enacted legislation and as a brief recap of the major provisions of each bill. While the information provided in these summaries is accurate, the summaries are not intended as a detailed abstract and reference should be made to the enacted bills for more complete information.
Bill
No.: HB0058 Drafter:
DKG
LSO
No.: 04LSO-0096.E2 Effective Date: 7/1/2004
Sec:
3: 1/1/05
Enrolled
Act No.: HEA0007
Chapter
No.: 7
Prime Sponsor: Joint Corporations, Elections
and Political Subdivisions Interim Committee
Catch
Title: Insurance producer licensing.
Subject: Licensing
of insurance producers (agents, brokers, etc.)
Summary/Major
Elements:
·
Currently, insurance agents, brokers and others selling insurance
products are licensed on an annual basis.
This bill provides for licensing for a two year period and adjusts fees
accordingly.
·
Licensing renewal will be done monthly throughout the year (based on the
birth date of the licensee) rather than all being renewed in March under
current law.
·
All fees submitted for licensing purposes are explicitly made
nonrefundable.
·
Continuing education requirements are increased and otherwise modified
for insurance producers.
·
A transition period is provided, with the new fees applicable on and
after January 1, 2005.
Comments: