The bill amends the Michigan Insurance Code of 1956, specifically section 1204c, to update the requirements for insurance producers regarding continuing education for license renewal. It establishes that insurance producers must have their hours of study reviewed every two years, with the possibility of staggered license continuation dates set by the director. Producers are required to complete at least 24 hours of continuing education, including a minimum of 3 hours in ethics, to renew their licenses. The bill also introduces provisions for waiving continuing education requirements for certain producers under specific circumstances, such as military service or severe hardship.

Additionally, the bill outlines new criteria for the approval of continuing education programs and introduces a system for crediting hours earned through participation in professional insurance associations. It allows producers to apply excess hours of continuing education to the next renewal period, with certain limitations. The director is granted authority to monitor classroom instruction and take disciplinary actions against instructors who violate regulations. Overall, the amendments aim to enhance the educational standards and regulatory framework for insurance producers in Michigan.

Statutes affected:
Senate Introduced Bill: 500.1204