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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applicant is not eligible for this exemption if the previous license was revoked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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