Sec. 1. 24-A MRSA §1415, sub-§1, ¶D, as amended by PL 1997, c. 592, §21, is further amended to read:

D. Independent producer; or

Sec. 2. 24-A MRSA §1415, sub-§1, ¶E, as enacted by PL 1997, c. 592, §21, is amended to read:

E. Surplus lines.; or

Sec. 3. 24-A MRSA §1415, sub-§1, ¶F is enacted to read:

F.__Long-term care.

Sec. 4. 24-A MRSA §1423, sub-§3, as enacted by PL 1997, c. 457, §23 and affected by §55, is amended to read:

3. Education requirements. An applicant for examination for a full life and health, full long-term care or full property and casualty producer license must have completed the education requirements prescribed by either paragraph A or B within 2 years prior to the date the application for license is filed with the superintendent.

A. The applicant must have completed successfully such courses of instruction in insurance as the superintendent may reasonably require and approve. Such courses may be either in attendance at or under the supervision and direction of or by correspondence with an educational institution or insurer, as approved by the superintendent.

B. The applicant must have had not less than 6 months of responsible duties and experience as a substantially full- time employee of an insurance producer or insurer.

Sec. 5. Application. The requirements of this Act apply to all individuals applying for a new license and all licensed producers applying for a license renewal on or after October 1, 2001.

SUMMARY

This bill requires insurance producers licensed to sell life and health insurance to obtain a separate license authority and meet separate education and examination requirements for the sale of long-term care insurance. It applies to all new license