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304.9-782 Conditions under which license authorizes employee or
representative to sell portable electronics insurance -- Restrictions on
licensees.
(1)
(2)
A portable electronics insurance retailer license issued to a business entity
under KRS 304.9-780 shall authorize an employee or authorized
representative of the business entity licensee to offer and disseminate portable
electronics insurance without being licensed, registered, or otherwise
individually identified, if all of the following are true:
(a) The employee, representative, or managing employee operates with
permission from the business entity licensee;
(b) The business entity licensee assumes responsibility for the insurance
activities of its unlicensed employees, authorized representatives, or
managing employees;
(c) The employee or authorized representative operates under the
supervision of a portable electronics insurance supervising entity who
shall be available for consultation for and adequate supervision of the
sale, solicitation, or negotiation of portable electronics insurance.
However, a portable electronics insurance supervising entity need not be
present where portable electronics insurance is offered and disseminated;
and
(d) The employee or authorized representative is not primarily compensated
based on the amount of insurance sold by the employee or
representative. However, an employee or authorized representative may
receive compensation for activities under the license which is incidental to
the employee's or representative's overall compensation.
A licensee shall not advertise, represent, or otherwise hold out the licensee or
any employee or authorized representative of the licensee as a licensed
insurance agent under another section of this subtitle, unless the entity or
individual actually holds the applicable license.
Effective:July 12, 2012
History: Created 2012 Ky. Acts ch. 92, sec. 5, effective July 12, 2012.
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