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SF 3467 Senate Long Description

2E Relating to commerce; regulating motor vehicle retail installment fees, insurance fees, coverages, contracts, filings and forms; regulating financial planners, real estate appraisers, limited broker licenses, domestic mutual insurance companies, joint underwriting associations, service contracts and collection agencies; making technical and clarifying changes; increasing documentary or documentary administration fees for motor vehicle retail installment sales; defining motor vehicle manufacturer and regulating motor vehicle service contracts issued by motor vehicle manufacturers covering private passenger automobiles; changing service contract to include towing, rental and road service and hazard protections; specifying initial reinsurance intermediary license duration requirements; modifying duties of insurers using agents or brokers in a life insurance or annuity sale; clarifying changes for accident and health insurance coverage application requirements for alcoholics and drug dependents benefits and for ambulatory mental health services benefits; modifying coverage for diagnostic procedures for cancer including related office or facility visits; specifying certain requirements for telephonic or electronic enrollment for medicare supplement plan applications; modifying membership requirements for the board of directors of the comprehensive health association; merging the joint underwriting associations; expanding the definition of health care utilization review organization; modifying certain requirements for health plan companies relating to alcoholism services; modifying executive compensation disclosures filing requirements; defining certain terms and modifying certain provisions relating to qualified long term care insurance policies;specifying certain electronic enrollment for group policies requirements and disclosure of tax consequences, specifying certain benefit triggers and modifying inflation protection features; requiring life insurance policy reserve standards for certain long term care benefits provided through acceleration of benefits; requiring life insurance polices funding long term care benefits entirely by accelerating death benefits to be in compliance for any policy illustration meeting the applicable requirements of the NAIC life insurance illustrations model regulation; modifying nonforfeiture benefit requirements under contingent benefits upon lapse provisions; providing standards for benefit triggers and specifying certain additional standards for benefit triggers for qualified long term care insurance contracts; specifying certain associations members education requirements and additional association duties for marketing long-term care insurance coverage; specifying an unfair trade practice; requiring insurers to notify policyholders of the availability of new services or providers; requiring policies and certificates to include a provision on the rights to reduce coverage and lower premiums; modifying certain domestic mutual life insurance company membership requirements; specifying quorum requirements for mutual companies member meetings; modifying requirements for insurable property of a city of the second class by farmers mutual fire insurance companies; modifying a certain provision relating to notification requirements to cancel an individual policy of insurance or contract and modifying certain right to cancel form content requirements; modifying certain worker's compensation insurance obligations of private employers ceasing to be self insured; modifying certain requirements for commercial self insurance groups; modifying certain duties of the commissioner of commerce relating to real estate appraisers licensure reporting requirements for federal certification purposes; specifying certain requirements for limited broker licensees for the sale of subdivided land; requiring segregated accounts for payments collected by a collector or collection agency on behalf of a customer; repealing certain provisions relating to accident and health insurance minimum coverage requirements for benefits for alcoholic and drug dependents, reduced payment amounts permitted to a patient by a health care provider and current automobile insurance motor vehicle service contracts
(je)