General Assembly Substitute Bill No. 6365
January Session, 2011 *_____HB06365APP___042611____*
General Assembly
Substitute Bill No. 6365
January Session, 2011
*_____HB06365APP___042611____*
AN ACT CONCERNING INSURANCE FOR MUNICIPALITIES.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. Section 38a-707b of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2011):
(a) For purposes of this section, "insurance", "insurance producer" and "insurer" have the same meanings as provided in section 38a-702a, and "municipality" means any town, city or borough, consolidated town and city or consolidated town and borough with a population of fifty thousand or more.
(b) Any insurance producer who sells, solicits or negotiates insurance on behalf of an insurer to a municipality or local or regional board of education shall: [, upon]
(1) Upon request from the municipality or local or regional board of education, fully disclose, in writing, the amount of any fees or compensation such insurance producer receives from the insurer for such services pursuant to the written memorandum required under section 38a-707 or the Investment Advisers Act of 1940, 15 USC 80b-1, et. seq., as amended from time to time; and
(2) List as a separate line item in any insurance policy rate quote provided by such insurance producer the amount of such producer's commission for such policy.
This act shall take effect as follows and shall amend the following sections:
Section 1 July 1, 2011 38a-707b
This act shall take effect as follows and shall amend the following sections:
Section 1
July 1, 2011
38a-707b
APP Joint Favorable Subst.
APP
Joint Favorable Subst.