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 complete 24 hours of continuing education every two years, with at least 3 hours focused on ethics. The bill allows the director to create a staggered schedule for license continuation dates and provides for the possibility of extending licensure periods for some licensees. Additionally, it introduces provisions for waiving continuing education requirements for certain producers under specific circumstances, such as military service or severe hardship.

Furthermore, 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 specifies that producers can apply excess hours of continuing education to the next renewal period, with limitations on ethics credits and duplicative coursework. The bill also includes provisions for monitoring classroom instruction and the authority of the director to refuse or revoke approval of insurance education instructors based on misconduct or incompetence. Overall, the amendments aim to enhance the educational standards and regulatory framework for insurance producers in Michigan.

Statutes affected:
House Introduced Bill: 500.1204