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304.9-170 Exemptions from prelicensing education or examination.
No prelicensing education or examination shall be required of:
(1) (a) An individual licensee who allows his or her license to lapse if the license
renewal fee is paid within twelve (12) months from the due date of the
license renewal fee. However, a penalty in the amount of double the
unpaid renewal fee shall be imposed. The department shall issue a
license with the same lines of authority as the lapsed license.
(b) Any applicant for license covering any line of authority to which the
applicant was licensed under a similar license in Kentucky, other than a
temporary license, within the twelve (12) months next preceding date of
application. The applicant is not eligible for this exemption if the previous
license was revoked or suspended by the commissioner for reasons other
than failure to maintain financial responsibility or to meet continuing
education requirements as required by KRS 304.9-105 and 304.9-295.
(c) A licensed insurance agent operating as a life settlement broker pursuant
to KRS 304.15-700(2)(b).
(2) An individual who applies for an insurance producer license in Kentucky who
was previously licensed for the same lines of authority in another state shall not
be required to complete any prelicensing education or examination. This
exemption is only available if the applicant is currently licensed in the other
state or if the application is received within ninety (90) days of the cancellation
of the applicant's previous license and if the prior state issues a certification
that, at the time of cancellation, the applicant was in good standing in that state
or the state's database records, maintained by the National Association of
Insurance Commissioners, its affiliates, or subsidiaries, indicate that the
insurance producer is or was licensed in good standing for the line of authority
requested.
(3) An individual licensed as an insurance producer in another state within the last
twelve (12) months who moves to Kentucky shall make application within
ninety (90) days of establishing legal residence to become a resident licensee
in accordance with KRS 304.9-105. No prelicensing education or examination
shall be required of that applicant to obtain a license for any line of authority
previously held in the prior home state except where the commissioner
determines otherwise by administrative regulation.
(4) An applicant for an insurance producer's license who is currently licensed in
Kentucky as a consultant as to the same line of authority, or has been so
licensed within twelve (12) months next preceding the date of application for
the license, unless the previous license was revoked or suspended or
continuation thereof refused by the commissioner for reasons other than failure
to maintain financial responsibility as required by KRS 304.9-330.
(5) Any applicant for license covering the same line of authority as to which that
applicant shall have held a valid license issued in accordance with this subtitle
or other applicable Kentucky law which was surrendered, in accordance with
KRS 304.2-080 or other applicable law, in order to accept employment with the
Department of Insurance, provided, however, that the applicant shall apply for
relicensing within twelve (12) months of the date of termination of his or her
employment with the Department of Insurance.
Effective:July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1056, effective July 15, 2010. -Amended 2008 Ky. Acts ch. 32, sec. 15, effective July 15, 2008. -- Amended
2005 Ky. Acts ch. 58, sec. 4, effective June 20, 2005. -- Amended 2002 Ky. Acts
ch. 273, sec. 20, effective July 15, 2002. -- Amended 2000 Ky. Acts ch. 393,
sec. 14, effective July 14, 2000. -- Amended 1998 Ky. Acts ch. 483, sec. 11,
effective July 15, 1998. -- Amended 1988 Ky. Acts ch. 64, sec. 2, effective July
15, 1988. -- Amended 1984 Ky. Acts ch. 322, sec. 7, effective July 13, 1984. -Amended 1982 Ky. Acts ch. 123, sec. 3, effective July 15, 1982. -- Amended
1980 Ky. Acts ch. 378, sec. 1, effective July 15, 1980. -- Created 1970 Ky. Acts
ch. 301, subtit. 9, sec. 17, effective June 18, 1970.
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