SB 392 - Currently there are two categories of persons within a fraternal benefit society that are not deemed an agent of the fraternal benefit society requiring insurance agent licensure: 1) any regular salaried officer, employee or secretary who devotes substantially all services to activities other than the solicitation of insurance contracts; and 2) any member representative of societies that insure members against death, dismemberment, or disability from accident only and that receive no commission or other consideration. The second category of persons exempt from insurance agent licensure has been changed to be any member representative of any fraternal benefit society who devotes less than fifty percent of his or her time to the solicitation and procurement of insurance contracts. A member representative is deemed to devote fifty percent of his or her time to the solicitation and procurement of insurance contracts if they solicited and procured insurance contracts in excess of fifty thousand dollars or contracts on more than twenty-five individuals. This act is identical to HB 1197 (2015).
MICHELA BIRK