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2001 SESSION

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010596408
SENATE BILL NO. 1035 Offered January 10, 2001 Prefiled January 10, 2001 A BILL to amend and reenact § 38.2-1824 of the Code of Virginia, relating to insurance; types of agent licenses. ---------- Patron-- Norment ---------- Referred to Committee on Commerce and Labor ----------

Be it enacted by the General Assembly of Virginia:

1. That § 38.2-1824 of the Code of Virginia is amended and reenacted as follows:

§ 38.2-1824. Kinds of agents' licenses and appointments issued.

A. The Commission shall issue the following kinds of agents' licenses and appointments: life and health insurance, property and casualty insurance, automobile club, cooperative nonprofit life benefit insurance, burial insurance, credit life and health insurance, credit property and involuntary unemployment insurance, dental services insurance, legal services insurance, mortgage accident and sickness insurance, mortgage guaranty insurance, mortgage redemption insurance, motor vehicle rental contract insurance, mutual assessment property and casualty insurance, mutual assessment life and health insurance, ocean marine insurance, optometric services insurance, pet accident, sickness and hospitalization insurance, title insurance, travel accident insurance, travel baggage insurance, and variable contract insurance.

B. All The licenses of all individuals and agenciesbusiness entities who on July 1, 1987, heldJuly 1, 2001, hold limited licenses to write accident and sickness insurance, or automobile insurance, or casualty insurance, or fidelity and surety bonds, or fire insurance, or life insurance and annuities, may remain licensed under such limited licenses, but no such license which has lapsed or been revoked shall be reinstated, and no new or additional licenses for any of the categories enumerated above shall be issuedshall have such licenses automatically converted to the nearest equivalent license type provided in subsection A, and shall be subject to all prelicensing and continuing education requirements applicable to such license type.

C. All individuals who, on July 1, 1999, held a health insurance agent license may retain such license until June 30, 2000, at which time such license shall terminate. No such license which has lapsed or been revoked shall be reinstated, and no new health insurance agent license shall be issued on or after July 1, 1999. Agents holding a health insurance agent license who wish to continue to be authorized to solicit, negotiate, procure or effect the types of insurance authorized under such license on or after July 1, 2000, shall be required to obtain a life and health insurance agent license by June 30, 2000.

D. All individuals and agencies who on July 1, 1999, held limited licenses to write bail (appearance) bonds may remain licensed under such limited licenses, but no such license which has lapsed or been revoked shall be reinstated, and no new or additional licenses of such type shall be issued.