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2012 SESSION

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SB 520 Property and casualty insurance; provides for SCC licensing and regulation of public adjusters.

Introduced by: Frank W. Wagner | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED SENATE: (all summaries)

Property and casualty insurance; public adjusters.  Provides for State Corporation Commission licensing and regulation of public adjusters. Public adjusting means investigating, negotiating, adjusting, or providing advice to an insured in relation to first-party claims arising under insurance contracts that insure the real or personal property of an insured, for the purpose of effecting the settlement of a claim on behalf of the insured. A licensed insurance agent who only provides advice to an insured in relation to first party claims arising under insurance contracts the agent sold, solicited, or negotiated that insure property of an insured is not engaged in public adjusting. A person is prohibited from acting as a public adjuster without first obtaining a license from the Commission. Public adjusters are required to comply with standards of conduct and continuing education requirements. Fees charged by a public adjuster are required to be fair and reasonable in relation to the work performed. The Commission may suspend or revoke licenses under certain conditions. The measure will become effective January 1, 2013. This bill is identical to HB 872.

FULL TEXT

• 01/11/12  Senate: Prefiled and ordered printed; offered 01/11/12 12103577D  pdf | impact statement
• 01/30/12  Senate: Committee substitute printed 12104831D-S1  pdf | impact statement
• 02/29/12  Senate: Bill text as passed Senate and House (SB520ER)  pdf | impact statement
• 04/10/12  Governor: Acts of Assembly Chapter text (CHAP0735)  pdf

HISTORY

• 01/11/12  Senate: Prefiled and ordered printed; offered 01/11/12 12103577D
• 01/11/12  Senate: Referred to Committee on Commerce and Labor
• 01/30/12  Senate: Reported from Commerce and Labor with substitute (16-Y 0-N)
• 01/30/12  Senate: Committee substitute printed 12104831D-S1
• 02/01/12  Senate: Constitutional reading dispensed (39-Y 0-N)
• 02/02/12  Senate: Read second time
• 02/02/12  Senate: Reading of substitute waived
• 02/02/12  Senate: Committee substitute agreed to 12104831D-S1
• 02/02/12  Senate: Engrossed by Senate - committee substitute SB520S1
• 02/03/12  Senate: Read third time and passed Senate (38-Y 0-N)
• 02/13/12  House: Placed on Calendar
• 02/13/12  House: Read first time
• 02/13/12  House: Referred to Committee on Commerce and Labor
• 02/21/12  House: Reported from Commerce and Labor (21-Y 0-N)
• 02/23/12  House: Read second time
• 02/24/12  House: Read third time
• 02/24/12  House: Passed by temporarily
• 02/24/12  House: Read third time
• 02/24/12  House: Passed House BLOCK VOTE (98-Y 0-N)
• 02/24/12  House: VOTE: BLOCK VOTE PASSAGE (98-Y 0-N)
• 02/29/12  Senate: Enrolled
• 02/29/12  Senate: Bill text as passed Senate and House (SB520ER)
• 02/29/12  Senate: Signed by President
• 02/29/12  House: Signed by Speaker
• 04/10/12  House: Bill became law, Chapter 735 (effective 1/1/13)
• 04/10/12  Governor: Acts of Assembly Chapter text (CHAP0735)