806 Ky. Admin. Regs. 9:265

Current through Register Vol. 51, No. 5, November 1, 2024

Section 806 KAR 9:265 - Rental vehicle agent license

RELATES TO: KRS 304.4-010, 304.9-295, 304.9-505

NECESSITY, FUNCTION, AND CONFORMITY: KRS 304.2-110 authorizes the commissioner to promulgate administrative regulations necessary for or as an aid to the effectuation of any provision of the Kentucky Insurance Code. KRS 304.9-230 authorizes the commissioner to issue an agent's license with the limited line of authority for rental vehicle, and requires the commissioner to promulgate administrative regulations to establish the requirements, if any, for prelicensing courses of instruction and examination for each limited line of authority. KRS 304.9-505 authorizes the commissioner to issue licenses to act as a rental vehicle agent and requires the commissioner to prescribe an application form for a business entity seeking to act as a rental vehicle agent. This administrative regulation establishes the information to be included in the application for rental vehicle agent business entity and managing employee licenses; the requirements for prelicensing education, course examinations; and recordkeeping for rental vehicle agents and their employees who sell rental vehicle insurance.

Section 1. License Application. To apply for a rental vehicle agent license, an applicant shall submit:

(1) The appropriate completed form:

(a) For individual managing employees, Form 8301, incorporated by reference in 806 KAR 9:025;

(b) For Business Entities, Form 8301-BE, incorporated by reference in 806 KAR 9:025; and

(c) Listings, signed by the rental vehicle agent applicant, of:

1. All business locations proposed to be licensed; and

2. The name and assigned licensed managing employee for each business location.

(2) The corresponding fees established by 806 KAR 4:010.

Section 2. Register.

(1) A licensed rental vehicle agent shall maintain a register that includes:

(a) A current list of every unlicensed employee authorized to act under the license;

(b) Records of all prelicensing study and course examinations completed by managing employees; and

(c) Records of all disclosure training completed by unlicensed employees pursuant to KRS 304.9-507(1)(e).

(2) The register shall be made available to the department upon request.

Section 3. Licensed Rental Vehicle Agent Responsibilities. The licensed rental vehicle agent shall:

(1) Provide a prelicensing course of study for its managing employees, approved by the commissioner;

(2) Administer an examination to managing employees that is approved by the commissioner and that includes at least twenty-five (25) questions on the topics in the department's course outline. The managing employee applicant shall attain a score of seventy (70) percent or better to pass the examination and be eligible for the license;

(3) Be responsible for the insurance activities of its licensed managing employees and its unlicensed employees and representatives; and

(4) Report all material changes and additions to the department within thirty (30) days.

806 KAR 9:265

27 Ky.R. 2969; Am. 3250; eff. 6-8-2001; 32 Ky.R. 321; 881; eff. 12-2-05; Crt eff. 2-28-2020; 46 Ky.R. 1368; 2083; eff. 4-1-2020.

STATUTORY AUTHORITY: KRS 304.2-110, 304.9-230, 304.9-505