Connecticut 2019 Regular Session

Connecticut House Bill HB07175 Compare Versions

Version 1 (Old)

Version 2 (New)

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3		-	LCO 4264 \\PRDFS1\HCOUSERS\BARRYJN\WS\2019HB-07175-R01-
4		-	HB.docx
5		-	1 of 2
	3	+	LCO No. 4264 1 of 3
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7	5		General Assembly Raised Bill No. 7175
8	6		January Session, 2019
9	7		LCO No. 4264
10	8
11	9
12		-	Referred to Committee on INSURANCE AND REAL
13		-	ESTATE
	10	+	Referred to Committee on INSURANCE AND REAL ESTATE
14	11
15	12
16	13		Introduced by:
17	14		(INS)
	15	+
	16	+
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19	18
20	19		AN ACT CONCERNING SU RETY BAIL BOND AGENTS.
21	20		Be it enacted by the Senate and House of Representatives in General
22	21		Assembly convened:
23	22
24	23		Section 1. Subsection (k) of section 38a-660 of the general statutes is 1
25	24		repealed and the following is substituted in lieu thereof (Effective 2
26	25		October 1, 2019): 3
27	26		(k) (1) (A) To further the enforcement of this section and sections 4
28	27		38a-660b to 38a-660m, inclusive, as amended by this act, and to 5
29	28		determine the eligibility of any licensee, the commissioner may [, as 6
30	29		often as the commissioner deems necessary,] examine the books and 7
31	30		records of any such licensee: (i) Not more frequently than once during 8
32	31		any three-year time period; or (ii) more frequently as the commissioner 9
33	32		deems necessary for good cause shown. Each person licensed as a 10
34	33		surety bail bond agent in this state shall, on or before January thirty-11
35	34		first, annually, pay to the commissioner a fee of four hundred fifty 12
36	35		dollars to cover the cost of examinations under this subsection. 13
37	36		(B) If such person fails to pay such fee on or before January thirty-14
38		-	first, annually, the license of such person shall automatically expire on 15
39		-	the February first immediately following, provided the commissioner 16 Raised Bill No. 7175
	37	+	first, annually, the license of such person shall automatically expire on 15 Raised Bill No. 7175
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41	39
42		-	LCO 4264 {\\PRDFS1\HCOUSERS\BARRYJN\WS\2019HB-07175-
43		-	R01-HB.docx }
44		-	2 of 2
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	41	+	LCO No. 4264 2 of 3
	42	+
	43	+	the February first immediately following, provided the commissioner 16
46	44		shall immediately reinstate any such license if the commissioner 17
47	45		receives such fee not later than ten days after such expiration. 18
48	46		(C) The commissioner shall notify, not later than December 19
49	47		fifteenth, annually, each person licensed as a surety bail bond agent in 20
50	48		this state about such automatic expiration provision. 21
51	49		(2) The fees received by the commissioner pursuant to subdivision 22
52	50		(1) of this subsection shall be dedicated to conducting the examinations 23
53	51		under said subdivision (1) and shall be deposited in the account 24
54	52		established under subdivision (3) of this subsection. 25
55	53		(3) There is established an account to be known as the "surety bail 26
56	54		bond agent examination account", which shall be a separate account 27
57	55		within the Insurance Fund established under section 38a-52a. The 28
58	56		account shall contain any moneys required by law to be deposited in 29
59	57		the account and any such moneys remaining in the account at the 30
60	58		[close of the fiscal] end of each calendar year shall be transferred to the 31
61	59		General Fund. 32
62	60		Sec. 2. Section 38a-660m of the general statutes is repealed and the 33
63	61		following is substituted in lieu thereof (Effective October 1, 2019): 34
64	62		The commissioner may adopt regulations, in accordance with the 35
65	63		provisions of chapter 54, to (1) implement the provisions of section 36
66	64		38a-660, as amended by this act, and sections 38a-660b to 38a-660k, 37
67	65		inclusive, and (2) establish continuing education requirements for 38
68	66		persons licensed as surety bail bond agents in this state. 39
69	67		This act shall take effect as follows and shall amend the following
70	68		sections:
71	69
72	70		Section 1 October 1, 2019 38a-660(k)
73	71		Sec. 2 October 1, 2019 38a-660m
	72	+	Raised Bill No. 7175
74	73
75		-	INS Joint Favorable
	74	+
	75	+
	76	+	LCO No. 4264 3 of 3
	77	+
	78	+	Statement of Purpose:
	79	+	To (1) restrict how frequently the Insurance Commissioner may
	80	+	examine a surety bail bond agent's books and records, (2)
	81	+	automatically cancel a surety bail bond agent's license if the agent does
	82	+	not pay an annual examination fee, (3) reschedule an annual transfer
	83	+	concerning the surety bail bond agent examination account, and (4)
	84	+	authorize the commissioner to adopt regulations concerning
	85	+	continuing education requirements for surety bail bond agents.
	86	+	[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline,
	87	+	except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is
	88	+	not underlined.]
76	89