Kentucky Statutes 304.9-390 – Place of agent’s business — Display of licenses — Records
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(1) Every individual and business entity issued a license with Kentucky as its home state shall have and maintain in this state a place of business accessible to the public, and wherein the licensee principally conducts transactions under his or her license. This provision shall not be deemed to prohibit maintenance of this place of business in the office of an insurer, office of the employer, or in the residence of the licensee.
(2) The licenses of the licensee shall be conspicuously displayed in each of the places of business in a part customarily open to the public.
(3) The licensee shall keep at his or her place of business complete records of transactions under the license.
(a) The records shall be kept available for inspection by the commissioner for a period of at least five (5) years after completion of the respective transactions.
(b) For an insurance producer, the record shall show, as to each insurance policy or contract placed by or through the licensee, the names of the insurer and insured, the number and expiration date of, and premium payable as to, the policy or contract, and any other information as the commissioner may reasonably require.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1071, effective July 15, 2010. — Amended 2002 Ky. Acts ch. 273, sec. 30, effective July 15, 2002. — Amended 2000
Ky. Acts ch. 393, sec. 28, effective July 14, 2000. — Amended 1986 Ky. Acts ch.
437, sec. 14, effective July 15, 1986. — Created 1970 Ky. Acts ch. 301, subtit. 9, sec.
39, effective June 18, 1970.
(2) The licenses of the licensee shall be conspicuously displayed in each of the places of business in a part customarily open to the public.
Terms Used In Kentucky Statutes 304.9-390
- Business entity: means a corporation, association, partnership, limited liability company, limited liability partnership, employer group, professional employer organization, or other legal entity. See Kentucky Statutes 304.9-020
- Contract: A legal written agreement that becomes binding when signed.
- Home state: means the District of Columbia and any state or territory of the United States in which a licensee maintains his or her principal place of residence or principal place of business and is licensed by that state. See Kentucky Statutes 304.9-020
- Insurance producer: includes agent, managing general agent, surplus lines broker, reinsurance intermediary broker and manager, rental vehicle agent and rental vehicle agent managing employee, and consultant. See Kentucky Statutes 304.9-020
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
(3) The licensee shall keep at his or her place of business complete records of transactions under the license.
(a) The records shall be kept available for inspection by the commissioner for a period of at least five (5) years after completion of the respective transactions.
(b) For an insurance producer, the record shall show, as to each insurance policy or contract placed by or through the licensee, the names of the insurer and insured, the number and expiration date of, and premium payable as to, the policy or contract, and any other information as the commissioner may reasonably require.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1071, effective July 15, 2010. — Amended 2002 Ky. Acts ch. 273, sec. 30, effective July 15, 2002. — Amended 2000
Ky. Acts ch. 393, sec. 28, effective July 14, 2000. — Amended 1986 Ky. Acts ch.
437, sec. 14, effective July 15, 1986. — Created 1970 Ky. Acts ch. 301, subtit. 9, sec.
39, effective June 18, 1970.