TITLE: Relating to certain continuing education requirements for agents who sell Medicare-related products and annuities.

SUMMARY: Relating to certain continuing education requirements for agents who sell Medicare-related products and annuities.

FULL TEXT:
AN ACT relating to certain continuing education requirements for agents who sell Medicare-related products and annuities. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 4004.155, Insurance Code, as added by Chapter 326 (H.B. 739), Acts of the 81st Legislature, Regular Session, 2009, is amended to read as follows: Sec. 4004.155. [NONAPPLICATION OF] CERTAIN EXEMPTIONS APPLICABLE.The continuing education exemptions for certain agents established under Section 4004.052(b) and Section 9.02(e), Chapter 703 (S.B. 414), Acts of the 77th Legislature, Regular Session, 2001, [do not] apply to requirements under this subchapter. SECTION 2. Section 4004.202, Insurance Code, is amended by amending Subsection (b) and adding Subsection (d) to read as follows: (b) Each agent described by Subsection (a) must complete four hours of continuing education [annually] that specifically relates to annuities during the agent's two-year licensing period.[The annual period under this section must be based on the agent's license expiration date or another date specified by the commissioner by rule, and the education requirement under this subsection must be met within that annual period, notwithstanding Section 4004.051(b).] (d) The continuing education exemptions for certain agents established under Section 4004.052(b) and Section 9.02(e), Chapter 703 (S.B. 414), Acts of the 77th Legislature, Regular Session, 2001, apply to requirements under this subchapter. SECTION 3. This Act takes effect September 1, 2011.