PRIOR PRINTER'S NO. 1688
PRINTER'S NO. 1716
THE GENERAL ASSEMBLY OF PENNSYLVANIA
SENATE BILL
No.
1241
Session of
2024
INTRODUCED BY GEBHARD AND ROTHMAN, JUNE 5, 2024
SENATOR DiSANTO, BANKING AND INSURANCE, AS AMENDED,
JUNE 11, 2024
AN ACT
Amending the act of May 17, 1921 (P.L.789, No.285), entitled "An
act, relating to insurance; establishing an insurance
department; and amending, revising, and consolidating the law
relating to the licensing, qualification, regulation,
examination, suspension, and dissolution of insurance
companies, Lloyds associations, reciprocal and inter-
insurance exchanges, and certain societies and orders, the
examination and regulation of fire insurance rating bureaus,
and the licensing and regulation of insurance agents and
brokers; the service of legal process upon foreign insurance
companies, associations or exchanges; providing penalties,
and repealing existing laws," in insurance producers, further
providing for definitions, for powers and duties of
department, for license prerequisites and for licensing.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. The definition of "candidate" in section 601-A of
the act of May 17, 1921 (P.L.789, No.285), known as The
Insurance Department Act of 1921, is amended to read:
Section 601-A. Definitions.
The following words and phrases when used in this article
shall have the meanings given to them in this section unless the
context clearly indicates otherwise:
* * *
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
"Candidate." An individual who [has satisfactorily completed
or is exempt from the preexamination educational requirements
of] applies to take an insurance producer licensing examination
under section 604-A.
* * *
Section 2. Sections 602-A(a)(2), 604-A(a), (b), (c) and (d)
introductory paragraph and 606-A(a)(3) of the act are amended to
read:
Section 602-A. Powers and duties of department.
(a) Responsibilities.--The commissioner shall do all of the
following:
* * *
(2) Approve and administer or contract for the overall
administration of the [preexamination program, preexamination
courses of study,] insurance producer licensing examinations
and continuing education programs. [A preexamination
education program approved by the department shall include no
less than three credit hours on ethics.]
* * *
Section 604-A. License prerequisites.
(a) General rule.--Prior to applying to the department for
an insurance producer license, an individual shall [do the
following:
(1) satisfactorily complete the preexamination education
requirements of subsection (b); and
(2)] pass an insurance producer licensing examination
required for the lines of authority for which a candidate
desires a license.
[(b) Preexamination education requirements.--Prior to making
an application for the insurance producer licensing examination,
20240SB1241PN1716 - 2 -
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
an individual who desires to be licensed as an insurance
producer shall complete a minimum of 24 credit hours of approved
preexamination courses. Upon satisfactory completion of an
approved preexamination course of study, the individual shall be
issued proof of completion by the provider.]
(c) Insurance producer licensing examination.--[Except as
provided in subsection (d), upon satisfactory completion of an
approved preexamination course of study a candidate may apply to
take an insurance producer licensing examination.] A candidate
shall remit a completed application for examination indicating
the lines of authority for which the candidate desires to be
licensed[, a copy of the candidate's approved preexamination
study certificate] and the nonrefundable examination fee
established by the department prior to taking an insurance
producer licensing examination.
(d) Exceptions.--The examination [or preexamination
education] requirements of this act shall not be required if the
person is:
* * *
Section 606-A. Licensing.
(a) Applicants.--The department shall review each
application and may conduct an investigation of each applicant
who applies for a license in accordance with this act. The
department shall issue a resident or nonresident insurance
producer license, as appropriate, to the applicant when the
department determines that all of the following criteria have
been met:
* * *
[(3) The applicant has satisfied the preexamination
education requirements of this act.]
20240SB1241PN1716 - 3 -
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
* * *
Section 3. This act shall take effect in 60 180 days.
20240SB1241PN1716 - 4 -
<--
1
2