AMENDMENTS TO INSURANCE LICENSING ELIGIBILITY
House Bill 4044 as introduced
Sponsor: Rep. Michele Hoitenga
Complete to 2-20-19
Currently, the Code allows the director of the Department of Insurance and Financial Services to place on probation, suspend, or revoke an insurance producer’s license or levy a fine against the license holder, and requires the director to deny a license application, if, among other things, the license holder or applicant is convicted of a felony.
The bill would instead allow or require the director to take these punitive measures only if the felony had involved “dishonesty or a breach of trust,” such as fraud. In addition, the director would not be required to deny an application for an insurance producer license if the only reason for the denial were the felony conviction.
MCL 500.1205 and 500.1239
House Bill 4044 would not have a significant fiscal impact on the Department of Insurance and Financial Services or any other unit of state or local government.
Fiscal Analyst: Marcus Coffin
■ This analysis was prepared by nonpartisan House Fiscal Agency staff for use by House members in their deliberations and does not constitute an official statement of legislative intent.