Terms Used In Kansas Statutes 40-4902

  • agent: include an "insurance producer" or "producer" when the context so requires. See Kansas Statutes 40-4902
  • Attorney-at-law: A person who is legally qualified and licensed to practice law, and to represent and act for clients in legal proceedings.
  • Biennial due date: means the last day of the birth month of any licensed insurance agent who is required to complete C. See Kansas Statutes 40-4902
  • Biennium: means the period starting with the insurance agent's biennial due date in 2001 and each two-year period thereafter for any insurance agent who was born in an odd-numbered year. See Kansas Statutes 40-4902
  • Broker: means any individual who acts or aids in any manner in negotiating contracts of insurance, or in placing risks or in soliciting or effecting contracts of insurance as an agent for an insured other than such individual and not as an agent of an insurance company or any other type of insurance carrier. See Kansas Statutes 40-4902
  • Business entity: means any corporation, association, partnership, limited liability company, limited liability partnership or other legal entity. See Kansas Statutes 40-4902
  • Commissioner: means the commissioner of insurance as defined in Kan. See Kansas Statutes 40-4902
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Department: means the insurance department established by Kan. See Kansas Statutes 40-4902
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Insurance: means any of the lines of authority specified in Kan. See Kansas Statutes 40-4902
  • insurance company: means the same as "insurance company" as defined by Kan. See Kansas Statutes 40-4902
  • License: means a document issued by the commissioner authorizing a person to act as an insurance agent for the lines of authority specified in such document. See Kansas Statutes 40-4902
  • Limited line credit insurance: includes credit life, credit disability, credit property, credit unemployment, involuntary unemployment, mortgage life, mortgage guaranty, mortgage disability, automobile dealer gap insurance and any other form of insurance offered in connection with an extension of credit that is limited to partially or wholly extinguishing that credit obligation that the insurance commissioner determines should be designated a form of limited line credit insurance. See Kansas Statutes 40-4902
  • Month: means a calendar month, unless otherwise expressed. See Kansas Statutes 77-201
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • NAIC: means the national association of insurance commissioners. See Kansas Statutes 40-4902
  • Negotiate: means the act of conferring directly with or offering advice directly to any purchaser or prospective purchaser of a particular contract of insurance concerning any of the substantive benefits, terms or conditions of such contract, provided that the person engaged in such act either sells insurance or obtains insurance from insurers for purchasers. See Kansas Statutes 40-4902
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: means an individual or a business entity. See Kansas Statutes 40-4902
  • producer: includes "agent. See Kansas Statutes 40-4902
  • Property: includes personal and real property. See Kansas Statutes 77-201
  • Residence: means the place which is adopted by a person as the person's place of habitation and to which, whenever the person is absent, the person has the intention of returning. See Kansas Statutes 77-201
  • Sell: means to exchange a contract of insurance by any means, for money or its equivalent, on behalf of an insurance company. See Kansas Statutes 40-4902
  • Solicit: includes any attempt to sell insurance or asking or urging a person to apply for any particular kind of insurance from any particular insurance company. See Kansas Statutes 40-4902
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201

As used in this act:

(a) “Approved subject” or “approved course” means any educational presentation involving insurance fundamentals, insurance law, insurance policies and coverage, insurance needs, insurance risk management, insurance agency management or other areas, which is offered in a class, seminar, computer based training, interactive internet training or other similar form of instruction, and that has been approved by the commissioner under this act as expanding skills and knowledge obtained prior to initial licensure under this act or developing new and relevant skills and knowledge in preparation for such licensure.

(b) “Biennial due date” means the last day of the birth month of any licensed insurance agent who is required to complete C.E.C.’s and report the completion of such C.E.C.’s to the commissioner pursuant to this act, except that such due date shall not be earlier than two years from the date of the insurance agent’s initial licensure under this act. The biennial due date for a registered business entity shall be the last day of the month of the date of initial licensure under this act.

(c) “Biennium” means the period starting with the insurance agent’s biennial due date in 2001 and each two-year period thereafter for any insurance agent who was born in an odd-numbered year. For any insurance agent who was born in an even-numbered year, the term shall mean the period starting with the insurance agent’s biennial due date in 2002 and each two-year period thereafter. The biennium for a registered business entity shall be the two-year period following such business entity’s initial licensure or renewal of such license.

(d) “Broker” means any individual who acts or aids in any manner in negotiating contracts of insurance, or in placing risks or in soliciting or effecting contracts of insurance as an agent for an insured other than such individual and not as an agent of an insurance company or any other type of insurance carrier. The term “broker” does not include: A person working as an officer for an insurance carrier, or in a clerical, administrative or service capacity for an insurance carrier, licensed agent or broker, provided that such person does not solicit contracts of insurance, or an attorney-at-law in the performance of such attorney’s duties, an insured who places or negotiates the placement of such insured’s own insurance, or any employee of an insured engaged in placing or negotiating for placement of insurance for such employee’s employer.

(e) “Business entity” means any corporation, association, partnership, limited liability company, limited liability partnership or other legal entity.

(f) “C.E.C.” means continuing education credit containing at least 50 minutes of instruction in each clock hour. The term C.E.C. also includes any value, expressed in a whole number of units, assigned by the commissioner to an approved subject.

(g) “Commissioner” means the commissioner of insurance as defined in Kan. Stat. Ann. § 40-102, and amendments thereto. The term “commissioner” also includes any authorized representative or designee of the commissioner.

(h) “Department” means the insurance department established by Kan. Stat. Ann. § 40-102, and amendments thereto.

(i) “Home state” means the District of Columbia and any state or territory of the United States in which an insurance agent maintains such agent’s principal place of residence or principal place of business and is licensed to act as an insurance agent.

(j) “Inactive agent” means any licensed agent who presents evidence satisfactory to the commissioner that demonstrates that such agent will not do any act toward transacting the business of insurance for not more than four years from the date such evidence is received by the commissioner.

(k) “Insurance agent” and “agent” means any person required to be licensed under the provisions ofchapter 40 of the Kansas Statutes Annotated, and amendments thereto, to sell, solicit or negotiate insurance. For the purposes of the uniform agents licensing act, whenever the terms “agent” or “broker” appear inchapter 40 of the Kansas Statutes Annotated, and amendments thereto, each term means insurance agent unless the context requires otherwise. “Insurance agent” also includes the terms “insurance producer” or “producer.”

(l) “Insurance” means any of the lines of authority specified in Kan. Stat. Ann. § 40-4903(a), and amendments thereto.

(m) “Insurance producer” or “producer” means any person licensed under the laws of another state to sell, solicit, or negotiate insurance. For the purposes of this act, the terms “insurance agent” and “agent” include an “insurance producer” or “producer” when the context so requires. In the context of a producer database maintained by this state, another state or the NAIC, the term “producer” includes “agent.”

(n) “Insurer” and “insurance company” means the same as “insurance company” as defined by Kan. Stat. Ann. § 40-222c, and amendments thereto.

(o) “License” means a document issued by the commissioner authorizing a person to act as an insurance agent for the lines of authority specified in such document.

(p) “Limited line credit insurance” includes credit life, credit disability, credit property, credit unemployment, involuntary unemployment, mortgage life, mortgage guaranty, mortgage disability, automobile dealer gap insurance and any other form of insurance offered in connection with an extension of credit that is limited to partially or wholly extinguishing that credit obligation that the insurance commissioner determines should be designated a form of limited line credit insurance.

(q) “Limited line credit insurance agent” means a person who sells, solicits or negotiates one or more forms of limited line credit insurance coverage to individuals through a master, corporate, group or individual policy.

(r) “NAIC” means the national association of insurance commissioners.

(s) “Negotiate” means the act of conferring directly with or offering advice directly to any purchaser or prospective purchaser of a particular contract of insurance concerning any of the substantive benefits, terms or conditions of such contract, provided that the person engaged in such act either sells insurance or obtains insurance from insurers for purchasers.

(t) “Person” means an individual or a business entity.

(u) “Sell” means to exchange a contract of insurance by any means, for money or its equivalent, on behalf of an insurance company.

(v) “Solicit” includes any attempt to sell insurance or asking or urging a person to apply for any particular kind of insurance from any particular insurance company.