What's happening
This bill requires the superintendent to grant insurance continuing education credits for active membership in certain statewide professional insurance producer associations.
Why it matters
Encourages active participation in professional associations. by granting insurance producers continuing education credits for being involved in established statewide organizations, potentially boosting industry engagement and professional development.
Sets specific standards for qualifying associations. , requiring at least a decade of existence, regular publications, educational materials, and a focus on ethics and professionalism, which could ensure only reputable organizations are recognized.
Mandates evidence of meaningful involvement. , such as being in good standing, reading the association’s code of ethics, and attending at least one approved educational event per year, aiming to ensure that credits are tied to real engagement and learning.
Requires associations to report annually to the state. , adding a layer of oversight and accountability to verify member status, ethics codes, and compliance, which could help maintain the integrity of the continuing education credit system.
Albany, before your first meeting.
Every bill that moved yesterday, summarized in a sentence and ranked by impact. The Albany Scorecard follows on Sundays.
Free. Unsubscribe in one click. Want alerts on specific bills? Create an account.
Who cares
Headline styles
Reward Insurance Association Members
Plain English, a few words. Used as the page title.
Sponsors
3 Co-sponsors
History
- Substituted by S4365
- Ordered to third reading rules cal.359
- Rules report cal.359
- Reported
- Reported referred to rules
- Reported referred to codes
- Referred to insurance
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Give Credit for Association Membership
Vetoed · Sponsor Neil D. Breslin
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
5922
2019-2020 Regular Sessions
IN ASSEMBLY
February 20, 2019
Introduced by M. of A. HUNTER -- read once and referred to the Committee on Insurance
AN ACT to amend the insurance law, in relation to the granting of continuing education credits by the superintendent of financial services
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Subsection (c) of section 2132 of the insurance law is amended by adding a new paragraph 4 to read as follows:
(4) The superintendent shall grant three credit hours for a licensees' active membership in a statewide professional insurance producer association, per biennial period.
(A) For the purpose of this paragraph, a "statewide professional insurance producer association" shall be defined as an association that has been in existence for at least ten years, which derives its membership from amongst those persons that have been issued an insurance producer's license by the superintendent, and which is dedicated to the promotion of the integrity, trust, professionalism and business interests of its membership through education, advocacy, social interaction and the development of ethical and sound business practices including, but not limited to, a professional publication or journal that is issued not less than four times a year; issuance of not less than six guidance or fact-based policy statements or instructional memoranda on topics pertaining to professional practice, customer service, ethics or a substantive issue; or distribution of not less than twelve such statements or memoranda produced by another organization.
(B) For the purpose of this paragraph, 'active membership' means: (i) certification by the licensee to the superintendent that the member was in good standing with dues paid in full for the previous biennial period; (ii) certification to the superintendent by the licensee that the member has read the professional insurance producer association's code
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD09479-01-9
A. 5922 2
of ethics; and (iii) certification to the superintendent by the licensee that the licensee has attended at least one course, program of instruction or seminar that meets the requirements of this section sponsored by the professional insurance producer association each year during the previous biennial period.
(C) The professional insurance producer association shall file with the superintendent annually, by January thirty-first, a list of all members in good standing for the previous year, the current code of ethics, and any other information that the superintendent shall require in order to implement the provisions of this paragraph.
§ 2. This act shall take effect immediately.
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.