304.9-320 Qualifications for license as consultant -- Coverage of consultant license.
For the protection of the people of this Commonwealth the commissioner shall not issue, <br>continue, or permit to exist any license as consultant except in compliance with this <br>subtitle, or as to any person not qualified therefor as follows: <br>(1) If an individual, the applicant:
(a) Must be eighteen (18) or more years of age; <br>(b) Must have had not less than five (5) years of actual experience as a licensed
agent with respect to the kinds of insurance and contracts to be covered by the <br>license, or other special experience, education or training, all of sufficient <br>content and duration reasonably necessary for competence in fulfilling the <br>responsibilities of a consultant;
(c) Must have a thorough knowledge of insurance and annuity contracts of the
kinds proposed to be covered under the license;
(d) Must satisfy the commissioner by written examination; <br>(e) Must be competent, trustworthy under highest fiduciary standards, financially
responsible, and of good personal and business reputation; and
(f) Must have filed the bond required by KRS 304.9-330.
(2) If a business entity, the applicant:
(a) Must complete and submit a National Association of Insurance
Commissioners uniform license application;
(b) Must pay applicable fees as set forth in KRS 304.4-010; <br>(c) Must be competent, trustworthy under the highest fiduciary standards,
financially responsible, and of good business reputation; and
(d) Must designate each individual authorized to act for the business entity under
its consultant license in accordance with KRS 304.9-133.
(3) A consultant license shall cover either or both of the following categories, as
selected by the licensee: <br>(a) Property and casualty; or <br>(b) Life and health.
A consultant licensed in both categories shall qualify separately for, and be licensed <br>in, each category.
Effective: July 15, 2010 <br>History: Amended 2010 Ky. Acts ch. 24, sec. 1067, effective July 15, 2010. --
Amended 2006 Ky. Acts ch. 254, sec. 3, effective July 12, 2006. -- Amended 2005 <br>Ky. Acts ch. 143, sec. 15, effective June 20, 2005. -- Created 1970 Ky. Acts ch. 301, <br>subtit. 9, sec. 32, effective June 18, 1970.
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