HF 5041

as introduced - 93rd Legislature (2023 - 2024) Posted on 03/20/2024 11:22am

A bill for an act
relating to commerce; allowing continuing education credit for participation in a
professional insurance association; amending Minnesota Statutes 2022, section
60K.56, by adding a subdivision.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2022, section 60K.56, is amended by adding a subdivision
to read:

new text begin Subd. 8a. new text end

new text begin Participation in an insurance association. new text end

new text begin (a) The commissioner must
approve up to four hours of continuing education credit per reporting period for an insurance
producer's active participation in a state or national professional insurance association.
Credit must be provided on an hour-for-hour basis.
new text end

new text begin (b) The continuing education credit hours under this subdivision must be verified and
submitted by the association on behalf of the insurance producer and credited upon timely
filing with the commissioner. An association submitting continuing education credit hours
on behalf of insurance producers must be registered as an education provider under section
45.307. Credit granted under these provisions must not be used to satisfy ethics education
requirements.
new text end

new text begin (c) For purposes of this subdivision, active participation in a state or national professional
insurance association may be demonstrated by service on:
new text end

new text begin (1) a board of directors of a state or national chapter of the association;
new text end

new text begin (2) a formal committee of a state or national chapter of the association; or
new text end

new text begin (3) a formal subcommittee or task force of a state or national chapter of the association.
new text end