This 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 staggering license continuation dates to distribute them throughout the year. The bill specifies that producers must complete at least 24 hours of continuing education, including a minimum of 3 hours in ethics, and outlines the approval process for educational programs. Additionally, it introduces provisions for waiving continuing education requirements under certain circumstances, such as military service or severe hardship.

Furthermore, the bill introduces new provisions for insurance producers who exceed the required continuing education hours, allowing them to apply excess hours to the next renewal period, with specific limitations. It also allows for credits towards continuing education for active participation in professional insurance associations, provided these associations meet certain criteria set by the director. The bill includes various administrative updates, such as the director's authority to monitor educational programs and the conditions under which an insurance education instructor may be disapproved or sanctioned. Overall, the amendments aim to enhance the educational standards and regulatory framework for insurance producers in Michigan.

Statutes affected:
Senate Introduced Bill: 500.1204