SENATE BILL 541

File Code: Insurance - Liability and Miscellaneous Crossfiled with: HOUSE BILL 1017

Sponsored By:

Senator Della

Entitled:

Insurance - Change of Agent of Record or Broker of Record

Synopsis:

Requiring insurers to accept and honor requests for a change of agent of record or broker of record within 10 days after receiving the request; requiring a new agent of record or broker of record to be paid all compensation earned on the policy effective from the first anniversary date following the date of change; and requiring a request for a change of agent of record or broker of record to be in writing and include the insured's name, address, and signature, the insurer's name and address, the policy number, and the date.

Legislative History

Senate Action

2/2

First Reading Finance

2/5

Hearing 2/21 at 1:00 p.m.

House Action

No Action

Bill indexed under the following Subjects:

AGENTS AND BROKERS

INSURANCE-GENERAL

SALARIES AND COMPENSATION

Bill affects the following Statute:

Article - 48A Insurance Code

( 234D )

Documents:

Bill Text:

First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)

Amendments: None available