BILL ANALYSIS Senate Research Center S.B. 519 85R5011 LED-F By: Creighton Business & Commerce 2/28/2017 As Filed AUTHOR'S / SPONSOR'S STATEMENT OF INTENT Temporary licenses are designed for people who are considering a career change to an insurance agent. Many of these individuals attempt to transition in their careers while still working in another full-time job to provide for themselves and their families. As many discover while changing careers, completing 40 hours of training in 14 days can be difficult while working a 40-hour work week. S.B. 519 seeks to address this issue by extending the period for a temporary license applicant to complete the required training. S.B. 519 amends Chapter 4001, Insurance Code, to increase from 14 to 30 days the time an applicant for a temporary insurance agent license has to complete at least 40 hours of required training. As proposed, S.B. 519 amends current law relating to the training period for a temporary insurance agent's license. RULEMAKING AUTHORITY This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency. SECTION BY SECTION ANALYSIS SECTION 1. Amends Section 4001.160(a), Insurance Code, by requiring an agent, insurer, or health maintenance organization that is considering appointment of a temporary license applicant as its agent to provide at least 40 hours of training to the applicant not later than the 30th, rather than 14th, day after the date the application, nonrefundable fee, and certificate are delivered or mailed to the Texas Department of Insurance. SECTION 2. Makes application of Section 4001.160(a), Insurance Code, as amended by this Act, prospective. SECTION 3. Effective date: upon passage or September 1, 2017.
BILL ANALYSIS
Senate Research Center S.B. 519
85R5011 LED-F By: Creighton
Business & Commerce
2/28/2017
As Filed
Senate Research Center
S.B. 519
85R5011 LED-F
By: Creighton
Business & Commerce
2/28/2017
As Filed
AUTHOR'S / SPONSOR'S STATEMENT OF INTENT
Temporary licenses are designed for people who are considering a career change to an insurance agent. Many of these individuals attempt to transition in their careers while still working in another full-time job to provide for themselves and their families. As many discover while changing careers, completing 40 hours of training in 14 days can be difficult while working a 40-hour work week. S.B. 519 seeks to address this issue by extending the period for a temporary license applicant to complete the required training.
S.B. 519 amends Chapter 4001, Insurance Code, to increase from 14 to 30 days the time an applicant for a temporary insurance agent license has to complete at least 40 hours of required training.
As proposed, S.B. 519 amends current law relating to the training period for a temporary insurance agent's license.
RULEMAKING AUTHORITY
This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency.
SECTION BY SECTION ANALYSIS
SECTION 1. Amends Section 4001.160(a), Insurance Code, by requiring an agent, insurer, or health maintenance organization that is considering appointment of a temporary license applicant as its agent to provide at least 40 hours of training to the applicant not later than the 30th, rather than 14th, day after the date the application, nonrefundable fee, and certificate are delivered or mailed to the Texas Department of Insurance.
SECTION 2. Makes application of Section 4001.160(a), Insurance Code, as amended by this Act, prospective.
SECTION 3. Effective date: upon passage or September 1, 2017.