Insurance producer continuing education requirements modified.

A bill for an act

relating to insurance; modifying insurance producer continuing education

requirements; amending Minnesota Statutes 2024, sections 45.30, subdivision 1;

60K.56, subdivision 6, by adding a subdivision.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2024, section 45.30, subdivision 1, is amended to read:

Subdivision 1.

Content.

Continuing education consists of approved courses that impart

appropriate and related knowledge in the field for which approval is requested. The burden

of demonstrating that courses impart appropriate and related knowledge is upon the person

seeking approval or credit. The commissioner
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may
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must
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approve any educational offering

approved by the regulatory agency of another state if it does not conflict with Minnesota

law, and any courses leading to a nationally recognized professional designation used by

licensees regulated by this chapter.

Sec. 2.

Minnesota Statutes 2024, section 60K.56, subdivision 6, is amended to read:

Subd. 6.

Minimum education requirement.

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(a)
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Each person subject to this section

shall complete a minimum of 24 credit hours of courses accredited by the commissioner

during each licensing period. No more than one-half of the credit hours per licensing period

required under this section may be credited to a person for attending courses
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either
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:
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(1)
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sponsored by, offered by, or affiliated with an insurance company or its agents
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; or
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(2) from the credit hours allowed under subdivision 8a
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.

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(b)
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For the purposes of this subdivision, a course provided by a bona fide insurance trade

association is not considered to be sponsored by, offered by, or affiliated with an insurance

company or its agents regardless of the location of the course offering. A licensee must

obtain three hours of the credit hours per licensing period from a class or classes in the area

of ethics. Courses sponsored by, offered by, or affiliated with an insurance company or

agent may restrict its students to agents of the company or agency. Courses not sponsored

by an insurance company must be open to all unless an exception listed in section
45.30

applies.

Sec. 3.

Minnesota Statutes 2024, section 60K.56, is amended by adding a subdivision to

read:

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Subd. 8a.

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Participation in an insurance association.

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(a) The commissioner must

approve up to four hours of continuing education credit per reporting period for an insurance

producer's active participation in a state or national professional insurance association.

Credit approved under this paragraph must be provided to insurance producers on an

hour-for-hour basis.

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(b) The continuing education credit hours under this subdivision must be verified and

submitted by the association on behalf of the insurance producer, and credited to the insurance

producer upon timely filing with the commissioner. An association that submits continuing

education credit hours on behalf of insurance producers must be registered as an education

provider under section 45.307. Credit granted under this subdivision must not be used to

satisfy ethics education requirements.

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(c) For purposes of this subdivision, active participation in a state or national professional

insurance association is demonstrated by service on:

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(1) a board of directors of a state or national chapter of the association;

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(2) a formal committee of a state or national chapter of the association; or

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(3) a formal subcommittee or task force of a state or national chapter of the association.

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