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304.9-782 Conditions under which license authorizes employee or representative to
sell portable electronics insurance -- Restrictions on licensees.
(1)
(2)
A portable electronics insurance retailer license issued to a business entity under
KRS 304.9-780 shall authorize an employee or authorized representative of the
business entity licensee to offer and disseminate portable electronics insurance
without being licensed, registered, or otherwise individually identified, if all of the
following are true:
(a) The employee, representative, or managing employee operates with
permission from the business entity licensee;
(b) The business entity licensee assumes responsibility for the insurance activities
of its unlicensed employees, authorized representatives, or managing
employees;
(c) The employee or authorized representative operates under the supervision of a
portable electronics insurance supervising entity who shall be available for
consultation for and adequate supervision of the sale, solicitation, or
negotiation of portable electronics insurance. However, a portable electronics
insurance supervising entity need not be present where portable electronics
insurance is offered and disseminated; and
(d) The employee or authorized representative is not primarily compensated based
on the amount of insurance sold by the employee or representative. However,
an employee or authorized representative may receive compensation for
activities under the license which is incidental to the employee's or
representative's overall compensation.
A licensee shall not advertise, represent, or otherwise hold out the licensee or any
employee or authorized representative of the licensee as a licensed insurance agent
under another section of this subtitle, unless the entity or individual actually holds
the applicable license.
Effective: July 12, 2012
History: Created 2012 Ky. Acts ch. 92, sec. 5, effective July 12, 2012.
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