Download as PDF
304.9-260 Continuation and expiration of license -- Receipt of renewal fees -Continuing education documentation.
(1)
(2)
Each license issued under this subtitle, surplus lines broker license, life
settlement broker license, and life settlement provider license shall continue in
force until expired, suspended, revoked, or otherwise terminated. License
renewal fees shall be received on or before the applicable due date for the
license as stated in KRS 304.4-010. Beginning January 1, 2003, request for
renewal shall be on a form or in a format prescribed by the commissioner and
made as follows:
(a) At least thirty (30) days before the renewal request and fees are due from
the licensee, the department shall make available to each respective
licensee a list of his or her licenses to be renewed during that calendar
year. With the licensees written consent, an insurer or the licensees
employer may request that the department send the renewal list to the
insurer or to the employer. The department may distribute the renewal list
to the requesting insurer or employer instead of to the licensee;
(b) In conjunction with license renewal, an individual holding a resident
license for agent, independent or public adjuster, and life settlement
broker shall show proof of compliance with continuing education pursuant
to KRS 304.9-295. An individual licensee whose birth date is in an
even-numbered year shall submit the renewal request, continuing
education course completion documentation pursuant to KRS 304.9-295,
and fees to the commissioner by the last day of the licensees birth
month in the next even-numbered year after the date the license is
issued, and each subsequent even-numbered year thereafter;
(c) In conjunction with license renewal, an individual holding a resident
license for agent, independent or public adjuster, and life settlement
broker shall show proof of compliance with continuing education pursuant
to KRS 304.9-295. An individual licensee whose birth date is in an
odd-numbered year shall submit the renewal request, continuing
education course completion documentation pursuant to KRS 304.9-295,
and fees to the commissioner by the last day of the licensees birth
month in the next odd-numbered year after the date the license is issued,
and each subsequent odd-numbered year thereafter;
(d) A business entity that is issued a license in an even-numbered year shall
submit the renewal request and fees to the commissioner by March 31 of
the next even-numbered year, and each subsequent even-numbered year
thereafter; and
(e) A business entity that is issued a license in an odd-numbered year shall
submit the renewal request and fees to the commissioner by March 31 of
the next odd-numbered year, and each subsequent odd-numbered year
thereafter.
(a) Any license referred to in subsection (1) of this section for which the
request for renewal, any required continuing education course completion
documentation, if applicable, and fee are not received by the
commissioner shall be deemed to have expired at midnight on the last
day of the birth month for individuals and on March 31 for business
(3)
(4)
(5)
(6)
entities;
(b) Any renewal request and fees received by the commissioner within sixty
(60) days after the date of expiration, may be accepted with no
interruption in license if accompanied by a penalty as provided in Subtitle
99 of this chapter; and
(c) Completion of the required continuing education course, if applicable,
shall be on or before the expiration date, which is deemed as the last day
of the birth month of the licensee during the applicable odd or even year
on a biennial basis. Proof of compliance shall be received by the
commissioner within sixty (60) days after the expiration date.
A licensee who is unable to comply with license renewal procedures due to
military service, long-term medical disability, or some other extenuating
circumstance may make a written request for a waiver of those procedures.
The licensee may also make a written request for a waiver of any examination
requirement, fine, or other sanction imposed for failure to comply with these
renewal procedures.
As a condition to or in connection with the continuation of any insurance
producer license, the commissioner may require the licensee to file with him or
her information relative to use made of the license during the next preceding
calendar year and especially as to whether the license has been used
principally for the writing of controlled business, as defined in KRS 304.9-100.
As a condition to or in connection with the continuation of any license, the
commissioner shall require continuous demonstration of continuing education
course completion to sustain the license, and any license shall terminate and
be surrendered to the commissioner if and when the demonstration becomes
impaired.
This section does not apply to temporary licenses issued under KRS
304.9-300, and licensees not licensed for one (1) full year prior to the end of
the applicable biennial renewal year.
Effective:July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1062, effective July 15, 2010; and
ch. 83, sec. 6, effective July 15, 2010. -- Amended 2008 Ky. Acts ch. 32,
sec. 17, effective July 15, 2008. -- Amended 2005 Ky. Acts ch. 143, sec. 11,
effective June 20, 2005. -- Amended 2002 Ky. Acts ch. 273, sec. 25, effective
July 15, 2002. -- Amended 2000 Ky. Acts ch. 393, sec. 20, effective July 14,
2000. -- Amended 1998 Ky. Acts ch. 485, sec. 1, effective July 15, 1998. -Amended 1982 Ky. Acts ch. 320, sec. 13, effective July 15, 1982. -- Amended
1978 Ky. Acts ch. 161, sec. 4, effective June 17, 1978. -- Created 1970 Ky. Acts
ch. 301, subtit. 9, sec. 26, effective June 18, 1970.
Legislative Research Commission Note (7/15/2010). This section was amended
by 2010 Ky. Acts chs. 24 and 83. Where these Acts are not in conflict, they have
been codified together. Where a conflict exists, Acts ch. 83, which was last
enacted by the General Assembly, prevails under KRS 446.250.
Legislative Research Commission Note (7/15/2010). A reference to the "office" of
insurance in subsection (1)(a) of this section, as amended by 2010 Ky. Acts
ch. 24, sec. 1062, has been changed in codification to the "department" of
insurance to reflect the reorganization of certain parts of the Executive Branch,
as set forth in Executive Order 2009-535 and confirmed by the General
Assembly in 2010 Ky. Acts ch. 24. This change was made by the Reviser of
Statutes pursuant to 2010 Ky. Acts ch. 24, sec. 1938.
Disclaimer: These codes may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.