Connecticut 2018 Regular Session

Connecticut Senate Bill SB00204 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1	1		General Assembly Raised Bill No. 204
2	2		February Session, 2018 LCO No. 731
3		-	_____~~SB00204INS~~__~~_032118____~~
	3	+	00731_______INS
4	4		Referred to Committee on INSURANCE AND REAL ESTATE
5	5		Introduced by:
6	6		(INS)
7	7
8	8		General Assembly
9	9
10	10		Raised Bill No. 204
11	11
12	12		February Session, 2018
13	13
14	14		LCO No. 731
15	15
16		-	_____~~SB00204INS~~__~~_032118____~~
	16	+	00731_______INS
17	17
18	18		Referred to Committee on INSURANCE AND REAL ESTATE
19	19
20	20		Introduced by:
21	21
22	22		(INS)
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24	24		AN ACT CONCERNING SURETY BAIL BOND AGENTS.
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26	26		Be it enacted by the Senate and House of Representatives in General Assembly convened:
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28	28		Section 1. Subsection (k) of section 38a-660 of the general statutes is repealed and the following is substituted in lieu thereof (Effective October 1, 2018):
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30	30		(k) (1) (A) To further the enforcement of this section and sections 38a-660b to 38a-660m, inclusive, as amended by this act, and to determine the eligibility of any licensee, the commissioner may [, as often as the commissioner deems necessary,] examine the books and records of any such licensee: (i) Not more frequently than once during any three-year time period; or (ii) more frequently as the commissioner deems necessary for good cause shown. Each person licensed as a surety bail bond agent in this state shall, on or before January thirty-first, annually, pay to the commissioner a fee of four hundred fifty dollars to cover the cost of examinations under this subsection.
31	31
32	32		(B) If such person fails to pay such fee on or before January thirty-first, annually, the license of such person shall automatically expire on the February first immediately following, provided the commissioner shall immediately reinstate any such license if the commissioner receives such fee not later than ten days after such expiration.
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34	34		(C) The commissioner shall notify, not later than December fifteenth, annually, each person licensed as a surety bail bond agent in this state about such automatic expiration provision.
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36	36		(2) The fees received by the commissioner pursuant to subdivision (1) of this subsection shall be dedicated to conducting the examinations under said subdivision (1) and shall be deposited in the account established under subdivision (3) of this subsection.
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38	38		(3) There is established an account to be known as the "surety bail bond agent examination account", which shall be a separate, nonlapsing account within the Insurance Fund established under section 38a-52a. The account shall contain any moneys required by law to be deposited in the account and any such moneys remaining in the account at the [close of the fiscal] end of each calendar year shall be transferred to the General Fund.
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40	40		Sec. 2. Section 38a-660m of the general statutes is repealed and the following is substituted in lieu thereof (Effective October 1, 2018):
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42	42		The commissioner may adopt regulations, in accordance with the provisions of chapter 54, to (1) implement the provisions of section 38a-660, as amended by this act, and sections 38a-660b to 38a-660k, inclusive, and (2) establish continuing education requirements for persons licensed as surety bail bond agents in this state.
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47	47		This act shall take effect as follows and shall amend the following sections:
48	48		Section 1 October 1, 2018 38a-660(k)
49	49		Sec. 2 October 1, 2018 38a-660m
50	50
51	51		This act shall take effect as follows and shall amend the following sections:
52	52
53	53		Section 1
54	54
55	55		October 1, 2018
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57	57		38a-660(k)
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59	59		Sec. 2
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61	61		October 1, 2018
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63	63		38a-660m
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	65	+	Statement of Purpose:
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	67	+	To (1) restrict how frequently the Insurance Commissioner may examine a surety bail bond agent's books and records, (2) impose automatic cancellation of a surety bail bond agent's license if such agent has not paid the annual examination fee by January thirty-first, (3) change the time of transfer of funds in the surety bail bond agent examination account from the close of the fiscal year to the end of the calendar year, and (4) authorize the commissioner to adopt regulations establishing continuing education requirements for surety bail bond agents.
66	68
67		-	INS Joint Favorable
68		-
69		-	INS
70		-
71		-	Joint Favorable
	69	+	[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]