Amendment AA1-AB660

LRBa1942/2

PJK:cjs:rs

2013 - 2014 LEGISLATURE

ASSEMBLY AMENDMENT 1, TO ASSEMBLY BILL 660

March 3, 2014 - Offered by Representative Krug.

AB660-AA1,1,1 At the locations indicated, amend the bill as follows:

AB660-AA1,1,2 1. Page 2, line 1: delete lines 1 to 3.

AB660-AA1,1,3 2. Page 3, line 4: delete "(a)" and substitute "(am)".

AB660-AA1,1,4 3. Page 3, line 5: delete lines 5 to 7.

AB660-AA1,1,5 4. Page 3, line 10: before that line insert:

AB660-AA1,1,8 "(a) "Firm" means a firm under s. Ins 6.58 (1m), Wis. Adm. Code, that sells, solicits, or negotiates travel insurance through an individual travel insurance producer.

AB660-AA1,1,10 (ac) "Firm license" means a license described in s. Ins 6.58 (2), Wis. Adm. Code, that is held by a firm.".

AB660-AA1,1,11 5. Page 3, line 10: delete "(a)" and substitute "(am)".

AB660-AA1,1,12 6. Page 3, line 23: delete lines 23 and 24 and substitute:

AB660-AA1,2,2 "(c) "Travel insurance producer" means an intermediary who is licensed under sub. (2) to sell, solicit, or negotiate travel insurance.".

AB660-AA1,2,4 7. Page 4, line 4: delete that line and substitute "a person licensed as an intermediary under ch. 628 who applies".

AB660-AA1,2,5 8. Page 4, line 8: delete lines 8 to 12 and substitute:

AB660-AA1,2,9 "(3) Authority to offer and disseminate travel insurance. A travel retailer, or an employee or authorized representative of a travel retailer, may offer and disseminate travel insurance under a firm license of a firm, only if the firm holds such a license, and only if all of the following apply:".

AB660-AA1,2,11 9. Page 4, line 13: delete "The travel insurance producer or travel retailer" and substitute "A travel insurance producer or the travel retailer".

AB660-AA1,2,13 10. Page 4, line 20: delete the material beginning with that line and ending with page 5, line 12, and substitute:

AB660-AA1,2,14 "4. The identity and contact information of the firm.

AB660-AA1,2,21 (b) The firm keeps a register of each travel retailer that offers and disseminates travel insurance on the firm's behalf. The register shall include the name and contact information of the travel retailer and of an officer or person who directs or controls the travel retailer's operations and the travel retailer's federal tax identification number. The firm shall also certify that the travel retailer register complies with 18 USC 1033. The firm shall submit the register to the commissioner upon request within 30 days after receiving a request.

AB660-AA1,2,24 (c) The firm has designated a travel insurance producer responsible for ensuring the travel retailer's compliance with the limited lines travel insurance statutes and rules of this state.

AB660-AA1,3,1 (d) The firm has paid all applicable licensing fees under s. 601.31 (1) (L) 2.".

AB660-AA1,3,2 11. Page 5, line 13: delete "The travel" and substitute "A travel".

AB660-AA1,3,3 12. Page 5, line 15: delete "may" and substitute "shall".

AB660-AA1,3,4 13. Page 6, line 21: delete "travel insurance producer" and substitute "firm".

AB660-AA1,3,6 14. Page 7, line 7: delete "that is not also licensed as an intermediary under ch. 628".

AB660-AA1,3,7 (End)