ARIZONA
HOUSE OF REPRESENTATIVES
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HB 2082: insurance producers; convictions; reporting |
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PRIME SPONSOR: Representative Livingston, LD 22 BILL STATUS: Banking & Insurance
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Relating to insurance producers
convictions.
Provisions
1. Requires a criminally convicted insurance producer to report the conviction to the Director of ADOI within 30 days after the filing date of the conviction. (Sec. 1)
2. Clarifies the report must include the initial indictment, information or complaint filed, the final judgment entered by the court, and other relevant documents. (Sec. 1)
Current Law
An insurance producer is an individual or business entity authorized to sell, solicit or negotiate insurance. The Director of ADOI may deny, suspend, revoke or refuse to renew an insurance producer's license or may impose a civil penalty for certain violations, which include:
a. Having been convicted of a felony.
b. Intentionally misrepresenting the terms of an actual or proposed insurance contract or application for insurance.
c. Obtaining or attempting to obtain a license through misrepresentation or fraud. (A.R.S. § 20-295).
Director of ADOI cannot issue another insurance producer license until one year after revocation and the person is in compliance with licensing requirements (A.R.S. § 20-296).
The insurance producer is required to report any criminal prosecution in any jurisdiction to the Director of ADOI within thirty days after the initial pretrial hearing date. The report shall include a copy of the complaint filed, the order resulting from the hearing, and all other relevant legal documents (A.R.S. § 20-301).
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Fifty-third Legislature HB 2082
Second Regular Session Version 1: Banking and Insurance
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