2021 Kentucky Revised Statutes Chapter 304 - Insurance code Subtitle 304.9 - Agents, Consultants, Solicitors and Adjusters 304.9-496 Operator of self-service storage facility may offer and sell insurance on behalf of a limited lines self-service storage space insurance producer -- Conditions -- Producer is responsible for operator's acts.
Download as PDF
304.9-496 Operator of self-service storage facility may offer and sell insurance on
behalf of a limited lines self-service storage space insurance producer -Conditions -- Producer is responsible for operator's acts.
(1)
(2)
(3)
An operator of a self-service storage facility may offer and disseminate insurance
for personal property located within a leased space at a self-service storage facility
on behalf of and under the control of a limited lines self-service storage space
insurance producer only if the limited lines self-service storage space insurance
producer complies with the following:
(a) The limited lines self-service storage space insurance producer is clearly
identified, including the entity's name and contact information, on marketing
materials and fulfillment packages distributed by self-service storage facility
operators to customers;
(b) At the time of licensure, the limited lines self-service storage space insurance
producer shall establish and maintain a register on a form prescribed by the
commissioner of each facility that offers self-service storage space insurance
on the limited lines self-service storage space insurance producer's behalf. The
register shall be maintained and updated annually by the limited lines selfservice storage space insurance producer and shall include the name, address,
contact information, and Federal Employment Identification Number of the
operator and the name, address, and contact information of any officer or
person employed by the operator who directs or controls the self-service
storage facility operations. The limited lines self-service storage space
insurance producer shall submit the register upon request from the
commissioner. The limited lines self-service storage space insurance producer
shall also certify that it complies with 18 U.S.C. sec. 1033;
(c) The limited lines self-service storage space insurance producer has designated
one (1) of its employees as a licensed individual responsible for the business
entity's compliance with KRS 304.9-495 to 304.9-497 and the insurance laws,
rules, and administrative regulations of the state; and
(d) The limited lines self-service storage space insurance producer requires each
employee of the operator whose duties include offering and disseminating
insurance to receive a program of instruction or training, which may be
subject to review by the commissioner. The training material shall, at a
minimum, contain instructions on the types of insurance offered, ethical sales
practices, and required disclosures to prospective customers.
Notwithstanding KRS 304.9-421 and 304.9-425, a self-service storage facility
operator, including its employees, whose activities relating to insurance are limited
to offering and disseminating insurance on behalf of and under the direction of a
limited lines self-service storage space insurance producer meeting the conditions as
set forth in this section, may offer and disseminate insurance.
As the insurer's designee, the limited lines self-service storage space insurance
producer is responsible for the acts of the self-service storage space operator.
Effective: July 15, 2014
History: Created 2014 Ky. Acts ch. 59, sec. 3, effective July 15, 2014.
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.
