Sunday, September 16, 2012

DAR File No. 36711 (Rule R590-142) UT Bull 2012-18 (09/15/2012)

This rule was published in the September 15, 2012, issue (Vol. 2012, No. 18) of the Utah State Bulletin.

Insurance, Administration

Rule R590-142

Continuing Education Rule

(Amendment)

DAR File No.: 36711
Filed: 08/31/2012 04:54:46 PM

RULE ANALYSIS

Purpose of the rule or reason for the change:

This year the Legislature passed H.B. 29, Insurance Amendments, in the 2012 General Session. At the request of representatives from the Utah bail bond industry, the law was changed to eliminate the requirement for bail bond producers to take continuing education (CE) classes in order to renew their bail bond license. This rule is being amended to reflect this change in the law. The change in being made in large part because there were no bail bond CE classes available.

Summary of the rule or change:

Sections R590-142-1, R590-142-2, and R590-142-4 are being changed to eliminate the reference to Section 31A-35-401.5 of the code requiring bail bond agents to take continuing education to renew their license.

State statutory or constitutional authorization for this rule:

  • Subsection 31A-23a-202(1)
  • Subsection 31A-2-201(3)
  • Subsection 31A-23a-202(5)
  • Subsection 31A-26-206(1)

Anticipated cost or savings to:

the state budget:

The change to this rule will have no effect on the department. The process of teaching and posting of completion notices to a student's license is all handled by the CE provider. The CE provider receives payment for the course. No money goes into the department or state's budget.

local governments:

This rule does not impact local governments since it deals solely with the relationship between the department and their licensees.

small businesses:

The elimination of the CE requirement will save producers the cost of a CE courses, which could be less than $50 every 2 years for around 450 licensees. Sometimes agencies pay this expense for their producers.

persons other than small businesses, businesses, or local governmental entities:

The elimination of the CE requirement will save producers the cost of a CE courses, which could be less than $50 every 2 years for around 450 licensees. Sometimes agencies pay this expense for their producers.

Compliance costs for affected persons:

The elimination of the CE requirement will save producers the cost of a CE courses, which could be less than $50 every 2 years for around 450 licensees. Sometimes agencies pay this expense for their producers.

Comments by the department head on the fiscal impact the rule may have on businesses:

The elimination of the CE requirement for bail bond producers will eliminate the expense and time to take the course every two years. The expense for such courses is normally less than $50.

Neal T. Gooch, Commissioner

The full text of this rule may be inspected, during regular business hours, at the Division of Administrative Rules, or at:

Insurance
Administration
Room 3110 STATE OFFICE BLDG
450 N MAIN ST
SALT LAKE CITY, UT 84114-1201

Direct questions regarding this rule to:

  • Jilene Whitby at the above address, by phone at 801-538-3803, by FAX at 801-538-3829, or by Internet E-mail at jwhitby@utah.gov

Interested persons may present their views on this rule by submitting written comments to the address above no later than 5:00 p.m. on:

10/15/2012

This rule may become effective on:

10/22/2012

Authorized by:

Jilene Whitby, Information Specialist

R590. Insurance, Administration.

R590-142. Continuing Education Rule.

R590-142-1. Authority.

This rule is promulgated pursuant to:

(1) Subsection 31A-2-201(3) that authorizes the commissioner to adopt rules to implement the provisions of the Utah Insurance Code;

(2) Subsection 31A-23a-202(1) that authorizes the commissioner to adopt a rule to prescribe the continuation requirements for a producer and a consultant;

(3) Subsection 31A-23a-202(5) that authorizes the commissioner to adopt a rule to prescribe the processes and procedures for continuing education provider registration and course approval;

(4) Subsection 31A-26-206(1) that authorizes the commissioner to adopt a rule to prescribe the continuing education requirements for an adjuster; and

[(5) Subsection 31A-35-401.5 that authorizes the commissioner to adopt a rule to implement the continuing education requirement for renewal of a bail bond producer license; and

][(6)](5) Subsection 31A-30-209 that authorizes the commissioner to adopt a rule to implement the continuing education requirements for the defined contribution market.

?

R590-142-2. Purpose and Scope.

(1) The purpose of this rule is to implement the continuing education requirements of Sections 31A-23a-202, 31A-26-206, and 31A-35-401.5.

(2) This rule applies to all continuing education providers and individual producer, consultant, and adjuster licensees under Sections 31A-23a-202, 31A-26-206, and 31A-30-209[, and 31A-35-401.5].

?

R590-142-4. Continuing Education Requirements.

A producer, consultant, and adjuster licensee shall comply with, and a continuing education provider shall be familiar with, the following continuing education requirements:

(1) the number of credit hours of continuing education insurance related instruction required to be completed biennially as a prerequisite to license renewal shall be in accordance with Sections 31A-23a-202, and 31A-26-206[, and 31A-35-401.5];

(2) a licensee may obtain continuing education credit hours at any time during the two-year licensing period;

(3) not more than half of the total credit hours required shall be satisfied by courses provided by insurers;

(4) upon renewal of a license, no continuing education credit hours in excess of the number required to renew the license may be carried over or applied to any subsequent licensing period;

(5) a licensee shall attend a course in its entirety in order to receive credit for the course;

(6) a licensee may repeat a course for credit but will not be permitted to take a course for credit more than once in a license continuation period;

(7) a nonresident licensee who satisfies the licensee's home state's continuing education requirement is considered to have satisfied Utah's continuing education requirement; and

(8) a licensee with a professional designation may use the continuing education credit hours required to maintain the designation to satisfy the requirement of the commissioner if:

(a) the hours are sufficient to meet the current continuing education requirement described in Sections 31A-23a-202 and 31A-26-206; and

(b) the professional designation consists of one or more of the following:

(i) Accredited Customer Service Representative (ACSR);

(ii) Accredited Financial Examiner (AFE) or Certified Financial Examiner (CFE);

(iii) Accredited Insurance Examiner (AIE) or Certified Insurance Examiner (CIE);

(iv) Certified Financial Planner (CFP);

(v) Certified Insurance Counselor (CIC);

(vi) Certified Risk Manager (CRM);

(vii) Registered Employee Benefits Consultant (REBC);

(viii) Chartered Property Casualty Underwriter (CPCU) with completion of the Continuing Professional Development (CPD) program; or

(ix) Certified Life Underwriter (CLU), Chartered Financial Consultant (ChFC) or Registered Health Underwriter (RHU) with completion of the Professional Achievement in Continuing Education (PACE) recertification program.

(9) A producer who solicits or sells a defined contribution plan in accordance with Section 31A-30-209 shall complete a minimum of two hours of defined contribution continuing education that includes training on use of the Utah Health Exchange and premium assistance programs:

(a) prior to soliciting or selling a defined contribution plan; and

(b) during each subsequent two-year licensing period that the producer solicits or sells a defined contribution plan.

?

KEY: insurance continuing education

Date of Enactment or Last Substantive Amendment: [February 8, ]2012

Notice of Continuation: January 10, 2012

Authorizing, and Implemented or Interpreted Law: 31A-2-201; 31A-23a-202; 31A-26-206; 31A-35-401.5

?

The Portable Document Format (PDF) version of the Bulletin is the official version. The PDF version of this issue is available at http://www.rules.utah.gov/publicat/bull-pdf/2012/b20120915.pdf. The HTML edition of the Bulletin is a convenience copy. Any discrepancy between the PDF version and HTML version is resolved in favor of the PDF version.

Text to be deleted is struck through and surrounded by brackets (e.g., [example]). Text to be added is underlined (e.g., example).? Older browsers may not depict some or any of these attributes on the screen or when the document is printed.

For questions regarding the content or application of this rule, please contact Jilene Whitby at the above address, by phone at 801-538-3803, by FAX at 801-538-3829, or by Internet E-mail at jwhitby@utah.gov.

Source: http://www.rules.utah.gov/publicat/bulletin/2012/20120915/36711.htm

thursday night football At&t Wireless soa apple apple 9/11 Jerry Lawler

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.