AN ACT AMENDING THE INSURANCE LAWS.
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
SECTION 1. Section 2A of chapter 167F of the General Laws, as appearing in the 2002 Official Edition, is hereby amended by striking out, in lines 7 to 9, inclusive, the words "either as an agent licensed pursuant to section 163 of chapter 175 or a broker licensed pursuant to section 166 of said chapter 175" and inserting in place thereof the following words:- as an insurance producer licensed pursuant to section 162M or 162N of chapter 175.
SECTION 2. Said section 2A of said chapter 167F, as so appearing, is hereby further amended by striking out, in line 11, the words "agent or broker" and inserting in place thereof the following words:- insurance producer.
SECTION 3. Said section 2A of said chapter 167F, as so appearing, is hereby further amended by striking out, in line 22, the words "agents and brokers" and inserting in place thereof the following word:- producers.
SECTION 4. Said section 2A of said chapter 167F, as so appearing, is hereby further amended by striking out, in line 28, the words "agent or broker" and inserting in place thereof the following word:- producer.
SECTION 5. Said section 2A of said chapter 167F, as so appearing, is hereby further amended by striking out, in line 102, the words "agent or broker" and inserting in place thereof the following word:- producers.
SECTION 6. Said section 2A of said chapter 167F, as so appearing, is hereby further amended by striking out, in lines 129 and 130, the words "and whether acting as insurance agent or broker".
SECTION 7. Section 14 of chapter 175 of the General Laws is hereby amended by striking out, in line 63, as so appearing, the word "fifth" and inserting in place thereof the following word:- fourth.
SECTION 8. Section 113 O of said chapter 175, as so appearing, is hereby amended by striking out, in line 4, the word "three" and inserting in place thereof the following word:- five.
SECTION 9. Section 132F of said chapter 175, as so appearing, is hereby amended by striking out, in lines 19, 21, 27, 29, 31, 46 and 68 the word "dollar".
SECTION 10. Section 132G of said chapter 175 is hereby amended by striking out, in line 29, as so appearing, the words "contract on a variable basis" and inserting in place thereof the following words:- such variable, fixed or guaranteed contract.
SECTION 11. Said section 132G of said chapter 175, as so appearing, is hereby further amended by striking out, in line 57, the words "such contract" and inserting in place thereof the following words:- any contract funded by such separate account.
SECTION 12. Section 132I of said chapter 175, as so appearing, is hereby amended by striking out, in line 3, the word "dollar".
SECTION 13. Section 151 of said chapter 175, as so appearing, is hereby amended by striking out clause Fourth.
SECTION 14. Said section 151 of said chapter 175, as so appearing, is hereby amended by striking out, in line 48, the word "Fifth" and inserting in place thereof the following word:- Fourth.
SECTION 15. Section 162 of said chapter 175, as so appearing, is hereby amended by striking out, in line 1, the word "of", the first time it appears, and inserting in place thereof the following word:- or.
SECTION 16. Section 168 of said chapter 175, as so appearing, is hereby amended by striking out, in lines 53 and 54, the words "subdivision (d) of the second paragraph of section twenty" and inserting in place thereof the following words:- subparagraph (i) of paragraph (D) of subsection (1) of section 20A.
SECTION 17. Section 172 of said chapter 175, as so appearing, is hereby amended by striking out, in lines 126 to 128, inclusive, the words , except that no foreign corporation shall be licensed as an insurance agent of a foreign company under section 163 or as a special insurance broker under said section 168.
SECTION 18. Section 206 of said chapter 175, as so appearing, is hereby amended by striking out, in line 21, the words "section two hundred and six D" and inserting in place thereof the following words:- subsection (k) of section 206C.
SECTION 19. Section 209 of said chapter 175, as so appearing, is hereby amended by striking out, in line 2, the words "163 and section 166" and inserting in place thereof the following words:- 162M and section 162N.
SECTION 20. Said section 209 of said chapter 175, as so appearing, is hereby further amended by striking out, in lines 4 and 5, the words "insurance agent or broker" and inserting in place thereof the following words:- insurance producer.
SECTION 21. Said section 209 of said chapter 175, as so appearing, is hereby further amended by striking out, in line 8, the words "agent or broker" and inserting in place thereof the following word:- producer.
SECTION 22. Section 1 of chapter 176N of the General Laws, as appearing in the 2002 Official Edition, is hereby amended by inserting after the word "insurance", in line 30, the following words:- , specified disease insurance that it purchased as a supplement and not as a substitute for a health plan and meets any requirements the commissioner by regulation may set.
SECTION 23. Section 4 of chapter 178A of the General Laws, as so appearing, is hereby amended by striking out, in lines 48 to 50, inclusive, the words "Applicants for a license as an agent or broker for the company shall be filed in accordance with sections one hundred and sixty-three and one hundred and sixty-three A of said chapter one hundred and seventy-five" and inserting in place thereof the following words:- Applications for appointment as an agent for the company shall be filed in accordance with sections 162M, 162N, 162S of said chapter 175.
SECTION 24. Section 68 of chapter 183 of the General Laws, as so appearing, is hereby amended by striking out, in line 2, the words "agent pursuant to section 163" and inserting in place thereof the following words:- producer pursuant to section 162M or 162N.