Section 27-8A-1

Continuing education requirements for insurance producers or service representatives.

(a) Any natural person licensed in this state as an insurance producer or service representative for the lines of insurance listed in subsection (b), and not exempt under subsection (c), shall satisfactorily complete a minimum of 12 classroom hours per year of courses, programs of instruction, or seminars as may be approved by the commissioner pursuant to this chapter. No person holding licenses for more than one line or type of insurance shall be required to complete a greater number of classroom hours than is required of a person holding a license for a single line or type of insurance.

(b) This chapter shall apply to all natural persons licensed in this state as insurance producers and service representatives for the following kinds of insurance:

(1) The life lines of authority.

(2) The property lines of authority.

(3) All other lines of insurance for which an examination is required for licensing.

(4) Any combination thereof.

(c) The continuing education requirements of this chapter shall not apply to:

(1) Any person exempt from licensing pursuant to subsection (b) of Section 27-3-27.

(2) Any person licensed only for any kind or kinds of insurance for which an examination is not required by law of this state.

(3) Any person licensed only for limited lines insurance, industrial fire, commonly known as debit fire, insurance, or any combination thereof.

(4) All producers and service representatives licensed in this state for 15 years and at least 60 years of age or older.

(5) Any person who holds a designation as a Chartered Property and Casualty Underwriter, Certified Insurance Counselor, Chartered Life Underwriter, Chartered Financial Consultant, Certified Financial Planner, Registered Health Underwriter, Registered Employee Benefits Consultant, Certified Health Consultant, or Associate Risk Manager.

(6) Newly licensed producers and service representatives for 12 months following the effective date of their license.

(7) Officers of insurers who are not engaged in the active sale of products.

(d) Up to 12 hours of excess classroom hours completed during any one-year period may be carried forward to the next year.

(e) In lieu of the 12 hours required in subsection (a), any producer or service representative employed by another producer or by an insurer to work only in the office of the employer and who is not licensed as a nonresident in any other state shall satisfactorily complete a minimum of 6 classroom hours per year.

(Acts 1996, No. 96-343, p. 423, §1; Act 2001-702, p. 1509, §14.)