(1) The commissioner may issue, in accordance with KRS 304.9-080, an agent's license with the limited line of authority as follows:
(a) Surety;
(b) Travel;
(c) Limited line credit;
(d) Crop;
(e) Rental vehicle;
(f) Self-service storage space; or (g) Other limited lines, as specified by the commissioner through the promulgation of administrative regulations.
(2) The commissioner shall promulgate administrative regulations to establish the requirements, if any, for prelicensing courses of instruction and examination for each limited line of authority.
(3) On and after July 15, 2002, the commissioner shall not issue an agent license with a limited line of authority for motor vehicle physical damage or for mechanical breakdown insurance. However, an agent license with a limited line of authority for motor vehicle physical damage or for mechanical breakdown insurance in effect on July 15, 2002, shall continue in effect until surrendered or otherwise terminated in accordance with this subtitle.