§ 27-1-15.7-2.4 — Continuing education credit for insurance producer participation in professional insurance organization

Indiana § 27-1-15.7-2.4

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 1: DEPARTMENT OF INSURANCE
• Ch. 15.7: Insurance Producer License Renewal

Text

4. (a) This section applies to an insurance
producer licensed under IC 27-1-15.6 who is subject to the continuing
education requirement set forth in section 2(a) of this chapter.
(b) If an insurance producer actively participates in a state or
national professional insurance organization, the insurance
commissioner may:
(1) recognize the insurance producer's participation in the
professional insurance organization; and
(2) apply the insurance producer's participation toward partial
satisfaction of the continuing education requirement set forth in
section 2(a) of this chapter.
(c) To be recognized and applied under subsection (b), an insurance
producer's participation in a professional insurance organization must
be one of the following:
(1) Service on the board of directors of:
(A) a state professional insurance organization;
(B) a state chapter of a national professional insurance
organization; or
(C) a national professional insurance organization.
(2) Service on a formal committee of:
(A) a state professional insurance organization;
(B) a state chapter of a national professional insurance
organization; or
(C) a national professional insurance organization.
(3) Service on a formal subcommittee or task force of:
(A) a state professional insurance organization;
(B) a state chapter of a national professional insurance
organization; or
(C) a national professional insurance organization.
(d) Not more than two (2) of the twenty-four (24) total hours of
credit in continuing education courses required of an insurance
producer by section 2(a) of this chapter may be satisfied under this
section in each two (2) year licensing period.
(e) If an insurance producer's participation in a professional
insurance organization is recognized and applied under subsection (b),
one (1) hour of the insurance producer's participation in the
professional insurance organization shall count toward satisfaction of
one (1) hour of the twenty-four (24) total hours of credit in continuing
education courses required by section 2(a) of this chapter, subject to
the limit set forth in subsection (d).
(f) An insurance producer's participation in a professional insurance
organization may not be applied under this section toward the
satisfaction of the requirement under section 2(a) of this chapter, if
applicable, that an insurance producer complete at least three (3) hours
of credit in continuing education courses related to ethical practices in
the marketing and sale of life, health, or annuity insurance products in
each two (2) year licensing period.
(g) To be recognized and applied under subsection (b) toward
satisfaction of an insurance producer's continuing education
requirements under section 2(a) of this chapter for a two (2) year
licensing period, the insurance producer's participation in a
professional insurance organization must:
(1) occur during that two (2) year licensing period; and
(2) be verified by the professional insurance organization in a
communication submitted to the insurance commissioner before
the deadline (if any) established by the rules adopted under
subsection (h).
(h) The insurance commissioner may adopt rules under IC 4-22-2
to administer this section.

Legislative History

As added by P.L.226-2023, SEC.2.