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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 304.4010. 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
licensee's written consent, an insurer or the licensee's 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 licensee's 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 licensee's 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
(3)
(4)
(5)
(6)
for individuals and on March 31 for business 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.
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