2014 Kentucky Revised Statutes CHAPTER 304 - INSURANCE CODE Subtitle 9 - Agents, Consultants, Solicitors and Adjusters 9.9-505 License for business entity to act as rental vehicle agent -- Registration fee and licensed managing employee for each business location -- Application and qualifications for license.
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304.9-505 License for business entity to act as rental vehicle agent -Registration fee and licensed managing employee for each business
location -- Application and qualifications for license.
(1)
(2)
(3)
(4)
(5)
(6)
A license issued under this section shall permit rental vehicle insurance sales
by the license holder provided the sales are conducted in accordance with the
provisions of KRS 304.9-507.
A business entity licensee shall register with the commissioner each separate
business location where its employees sell, solicit, or negotiate insurance and
may pay a location registration fee for each separate location.
A rental vehicle agent managing employee with an active license issued by the
commissioner shall oversee employees at each assigned location.
The commissioner may issue to a business entity qualified under this section a
license to act as a rental vehicle agent.
For a license to be issued under this section, the business entity shall submit to
the commissioner all of the following:
(a) A written application, signed by the authorized representative of the
business entity, on a form prescribed by the commissioner, that contains
the information prescribed by the commissioner;
(b) Satisfaction of all general agent licensing requirements as prescribed in
KRS 304.9-105(1)(c) and (2);
(c) The application fee, appointment fee, and location registration fee as
provided in KRS 304.4-010;
(d) A business entity applicant shall submit a list of physical locations where
activities authorized by the rental vehicle agent license will be conducted;
and
(e) A business entity applicant shall ensure that each proposed licensed
managing employee has successfully completed a prelicensing course of
study and successfully passed a rental vehicle examination approved by
the commissioner.
The commissioner may require any documents reasonably necessary to verify
the information contained in the application submitted in accordance with
subsection (5) of this section.
Effective:July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1081, effective July 15, 2010; and
ch. 83, sec. 16, effective July 15, 2010. -- Created 2000 Ky. Acts ch. 380,
sec. 24, effective July 14, 2000.
Legislative Research Commission Note (7/15/2010). A reference to the
"executive director" of insurance in subsection (3) of this section, as amended
by 2010 Ky. Acts ch. 83, sec. 16, has been changed in codification to the
"commissioner" 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.
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.
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