H-1985.1 _______________________________________________
HOUSE BILL 2036
_______________________________________________
State of Washington 54th Legislature 1995 Regular Session
By Representative L. Thomas
Read first time 02/22/95. Referred to Committee on Financial Institutions & Insurance.
AN ACT Relating to credit involuntary unemployment insurance; and amending RCW 48.17.060 and 48.17.190.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
Sec. 1. RCW 48.17.060 and 1975 1st ex.s. c 266 s 7 are each amended to read as follows:
(1) No person shall in this state act as or hold himself out to be an agent, broker, solicitor, or adjuster unless then licensed therefor by this state.
(2) No agent, solicitor, or broker shall solicit or take applications for, procure, or place for others any kind of insurance for which he is not then licensed.
(3) This section shall
not apply with respect to any person securing and forwarding information
required for the purposes of group credit life, credit involuntary
unemployment insurance, and credit disability insurance in connection with
an extension of credit and such other credit life, credit involuntary
unemployment insurance, or disability insurance lines as the commissioner
shall determine, and where no commission or other compensation is payable on
account of the securing and forwarding of such information((: PROVIDED,
That)). However, the reimbursement of a creditor's actual expenses
for securing and forwarding information required for the purposes of such group
insurance shall not be considered a commission or other compensation if such
reimbursement does not exceed three dollars per certificate issued, or in the
case of a monthly premium plan extending beyond twelve months, not to exceed three
dollars per loan transaction revision per year.
(4) Any person violating this section shall be liable to a fine of not to exceed five hundred dollars and imprisonment for not to exceed six months for each instance of such violation.
Sec. 2. RCW 48.17.190 and 1979 c 138 s 1 are each amended to read as follows:
The commissioner may issue limited licenses to the following:
(1) Persons selling transportation tickets of a common carrier of persons or property who shall act as such agents only as to transportation ticket policies of disability insurance or baggage insurance on personal effects.
(2) Compensated master policyholders of credit life, credit involuntary unemployment insurance, and credit accident and health insurance, retail dealers compensated by any such master policyholders, or the authorized representative(s) of either.
(3) Persons selling special or unique policies of insurance covering goods sold or leased from a primary business or activity other than the transaction of insurance or covering collateral securing loans from a primary business or activity other than the transaction of insurance if, in the commissioner's discretion, such limited license would safeguard and promote the public interest.
--- END ---