Sec. 1. 24-A MRSA §1416-A, sub-§2, as enacted by PL 2001, c. 259, §18, is amended to read:

2. Biennial license continuation fees. Each nonresident adjuster and consultant must be billed by the superintendent a biennial fee as provided in section 601 and shall pay the fee due by January 1st of even-numbered years. Each nonresident producer with an independent producer authority must be billed by the superintendent a biennial fee as provided in section 601 and shall pay the fee due by February 1st of odd-numbered years. Each nonresident business entity must be billed by the superintendent a biennial fee as provided in section 601 and shall pay the fee due by April 1st of odd-numbered years. Each resident adjuster, and consultant and producer with independent producer authority must be billed by the superintendent a biennial fee as provided in section 601 and shall pay the fee due by October 1st of even-numbered years. Each resident business entity must be billed by the superintendent a biennial fee as provided in section 601 and shall pay the fee due by December 1st of even-numbered years.

Sec. 2. 24-A MRSA §1420-F, sub-§1, ¶J, as enacted by PL 2001, c. 259, §24, is repealed.

Sec. 3. 24-A MRSA §1482, as amended by PL 1997, c. 592, §45, is further amended to read:

§1482. Educational requirements

As a prerequisite to maintaining a license, licensees must complete 30 hours of a continuing education requirement every 2 years in programs or courses approved by the superintendent. The superintendent may establish by rule the amount of continuing education credit hours, not to exceed 30 hours, required under this section.__Rules adopted pursuant to this section are routine technical rules pursuant to Title 5, chapter 375, subchapter 2-A. The superintendent may, for good cause shown, grant an extension of time to any person to allow that person to comply with this subchapter.

SUMMARY

This bill eliminates the biennial continuation fee for producers with independent producer authority, as such licensees are the only producers still subject to such a fee. It also eliminates the limited "annuities contracts" license. Finally,