Michigan Producer Licensing Bill Signed

Michigan Governor John Engler signed House Bill 5313, which enacts the National Association of Insurance Commissioners (NAIC) Model Producer Licensing Act and meets the producer licensing reciprocity requirements outlined in the federal Gramm-Leach-Bliley Act (GLBA). The bill becomes effective March 1, 2002.

“Michigan becomes the 40th state to enact laws or adopt regulations to address GLBA,” said Laura Kotelman, counsel for the National Association of Independent Insurers (NAII), said the Michigan governor’s signing of the bill makes it the 40th state to enact laws or adopt regulations that address the GBLA.

Currently only California, Washington D.C., Florida, Massachusetts, New York, Ohio, Pennsylvania, South Carolina, Tennessee, Vermont and West Virginia have not passed legislation that address the issue.