Pursuant to this section, the commissioner shall by rule prescribe the continuing education requirements for a producer and a consultant.
Terms Used In Utah Code 31A-23a-202
consultant: means a person who:
(a)
advises another person about insurance needs and coverages;
(b)
is compensated by the person advised on a basis not directly related to the insurance placed; and
(c)
except as provided in Section 31A-23a-501, is not compensated directly or indirectly by an insurer or producer for advice given. See Utah Code 31A-1-301
Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
Home state: means :
(a)
a state or territory of the United States or the District of Columbia in which an insurance producer, limited lines producer, consultant, managing general agent, or reinsurance intermediary licensee:
(i)
maintains the licensee's principal:
(A)
place of residence; or
(B)
place of business; and
(ii)
is licensed to act as a resident licensee; or
(b)
if the resident state, territory, or the District of Columbia described in Subsection (3)(a) does not license for the line of authority sought, a state, territory, or the District of Columbia:
(i)
in which the licensee is licensed;
(ii)
in which the licensee is in good standing; and
(iii)
that the licensee has designated as the licensee's designated home state. See Utah Code 31A-23a-102
a risk distributing arrangement providing for compensation or replacement for damages or loss through the provision of a service or a benefit in kind;
(ii)
a contract of guaranty or suretyship entered into by the guarantor or surety as a business and not as merely incidental to a business transaction; and
(iii)
a plan in which the risk does not rest upon the person who makes an arrangement, but with a class of persons who have agreed to share the risk. See Utah Code 31A-1-301
License: includes a certificate of authority issued to an insurer. See Utah Code 31A-1-301
Member: means a person having membership rights in an insurance corporation. See Utah Code 31A-1-301
producer: means a person licensed or required to be licensed under the laws of this state to sell, solicit, or negotiate insurance. See Utah Code 31A-1-301
State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
Title insurance: means the insuring, guaranteeing, or indemnifying of an owner of real or personal property or the holder of liens or encumbrances on that property, or others interested in the property against loss or damage suffered by reason of liens or encumbrances upon, defects in, or the unmarketability of the title to the property, or invalidity or unenforceability of any liens or encumbrances on the property. See Utah Code 31A-1-301
(2)
(a)
The commissioner may not state a continuing education requirement in terms of formal education.
(b)
The commissioner may state a continuing education requirement in terms of hours of insurance-related instruction received.
(c)
Insurance-related formal education may be a substitute, in whole or in part, for the hours required under Subsection (2)(b).
(3)
(a)
The commissioner shall impose continuing education requirements in accordance with a two-year licensing period in which the licensee meets the requirements of this Subsection (3).
(b)
(i)
Except as provided in this section, the continuing education requirements shall require:
(A)
that a licensee complete 24 credit hours of continuing education for every two-year licensing period;
(B)
that 3 of the 24 credit hours described in Subsection (3)(b)(i)(A) be ethics courses; and
(C)
that the licensee complete at least half of the required hours through classroom hours of insurance-related instruction.
(ii)
An hour of continuing education in accordance with Subsection (3)(b)(i) may be obtained through:
(A)
classroom attendance;
(B)
home study;
(C)
watching a video recording;
(D)
experience credit; or
(E)
another method provided by rule.
(iii)
(A)
Notwithstanding Subsections (3)(b)(i)(A) and (B), an individual title insurance producer is required to complete 12 credit hours of continuing education for every two-year licensing period, with 3 of the credit hours being ethics courses unless the individual title insurance producer is licensed in this state as an individual title insurance producer for 20 or more consecutive years.
(B)
If an individual title insurance producer is licensed in this state as an individual title insurance producer for 20 or more consecutive years, the individual title insurance producer is required to complete 6 credit hours of continuing education for every two-year licensing period, with 3 of the credit hours being ethics courses.
(C)
Notwithstanding Subsection (3)(b)(iii)(A) or (B), an individual title insurance producer is considered to have met the continuing education requirements imposed under Subsection (3)(b)(iii)(A) or (B) if at the time of license renewal the individual title insurance producer:
(I)
provides the departmentevidence that the individual title insurance producer is an active member in good standing with the Utah State Bar;
(II)
is in compliance with the continuing education requirements of the Utah State Bar; and
(III)
if requested by the department, provides the department evidence that the individual title insurance producer complied with the continuing education requirements of the Utah State Bar.
(c)
A licensee may obtain continuing education hours at any time during the two-year licensing period.
(d)
(i)
A licensee is exempt from continuing education requirements under this section if:
(A)
the licensee was first licensed before December 31, 1982;
(B)
the license does not have a continuous lapse for a period of more than one year, except for a license for which the licensee has had an exemption approved before May 11, 2011;
(C)
the licensee requests an exemption from the department; and
(D)
the department approves the exemption.
(ii)
If the department approves the exemption under Subsection (3)(d)(i), the licensee is not required to apply again for the exemption.
publish a list of insurance professional designations whose continuing education requirements can be used to meet the requirements for continuing education under Subsection (3)(b);
(ii)
authorize a continuing education provider or a state or national professional producer or consultant association to:
(A)
offer a qualified program for a license type or line of authority on a geographically accessible basis; and
(B)
collect a reasonable fee for funding and administration of a continuing education program, subject to the review and approval of the commissioner; and
(iii)
provide that membership by a producer or consultant in a state or national professional producer or consultant association is considered a substitute for the equivalent of two hours for each year during which the producer or consultant is a member of the professional association, except that the commissioner may not give more than two hours of continuing education credit in a year regardless of the number of professional associations of which the producer or consultant is a member.
(f)
A fee permitted under Subsection (3)(e)(ii)(B) that is charged for attendance at a professional producer or consultant association program may be less for an association member, on the basis of the member’s affiliation expense, but shall preserve the right of a nonmember to attend without affiliation.
(4)
The commissioner shall approve a continuing education provider or continuing education course that satisfies the requirements of this section.
The requirements of this section apply only to a producer or consultant who is an individual.
(7)
A nonresident producer or consultant is considered to have satisfied this state’s continuing education requirements if the nonresident producer or consultant satisfies the nonresident producer’s or consultant’s home state‘s continuing education requirements for a licensed insurance producer or consultant.
(8)
A producer or consultant subject to this section shall keep documentation of completing the continuing education requirements of this section for two years after the end of the two-year licensing period to which the continuing education applies.
