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KRS 304.9-310

Temporary licenses -- Rights and limitations

Known as the Reinsurance Intermediary Act

The act spans §§ 304.9-010 to 304.9-784 (110 sections).

Effective: July 14, 2000 History: Amended 2000 Ky

(1) The temporary license may cover only the same kinds of insurance for which the agent thereby being replaced was licensed.

(2) The temporary licensee may represent under the license all insurers last represented by the replaced agent, and without the necessity of new appointments of the licensee; but the licensee shall not be appointed as to any additional insurer of additional kind of insurance under a temporary license. This provision shall not be deemed to prohibit termination of its appointment by any insurer.

(3) A temporary license shall have the same license powers and duties as under a permanent license but shall not be obtained for the sole production of controlled business as defined in KRS 304.9-100, and no sale of insurance of any kind shall be made upon the licensee's own life or the lives of any relative by blood or marriage.

Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.