KRS 304.9-260: Continuation and expiration of license -- Receipt of renewal fees --

Continuing education documentation.

(1) (a) As used in this subsection, "license" means a:

1. License issued under this subtitle;

2. Surplus lines broker license;

3. Life settlement broker license; or

4. Life settlement provider license.

(b) Each license shall continue in force until expired, suspended, revoked, or

otherwise terminated.

(c) License renewal fees shall be received on or before the applicable due date for

the license as stated in KRS 304.4-010.

(d) A request for license renewal shall be on a form or in a format prescribed by

the commissioner.

(e) At least thirty (30) days before the license renewal request and fees are due

from each respective licensee, the department shall make available to the

licensee a list of his or her licenses to be renewed during that calendar year.

(f) In conjunction with license renewal, the following individuals shall show

proof of compliance with continuing education requirements established in

KRS 304.9-295:

1. Resident:

a. Agents;

b. Independent adjusters;

c. Public adjusters; and

d. Life settlement brokers; and

2. Nonresident:

a. Independent adjusters; and

b. Public adjusters;

that designate Kentucky as their home state.

(g) 1. An individual licensee whose birth date is in an even -numbered year

shall submit the license renewal request, continuing education course

completion documentation pursuant to KRS 304.9 -295, and fees to the

commissioner by the last day of the licensee's birth month in the next

even-numbered year after the date the license is issued, and each

subsequent even-numbered year thereafter;

2. An individ ual licensee whose birth date is in an odd -numbered year

shall submit the license renewal request, continuing education course

completion documentation pursuant to KRS 304.9 -295, and fees to the

commissioner by the last day of the licensee's birth month in the next

odd-numbered year after the date the license is issued, and each

subsequent odd-numbered year thereafter;

3. A business entity that is issued a license in an even -numbered year shall

submit the license renewal request and fees to the commissioner by

March 31 of the next even -numbered year, and each subsequent even -

numbered year thereafter; and

4. A business entity that is issued a license in an odd -numbered year shall

submit the license renewal request and fees to the commissioner by

March 31 of t he next odd -numbered year, and each subsequent odd -

numbered year thereafter.

(2) (a) Any license referred to in subsection (1) of this section for which the request

for renewal, any required continuing education course completion

documentation, if applicab le, and fee are not received by the commissioner

shall be deemed to have expired at midnight on the last day of the birth month

for individuals and on March 31 for business entities.

(b) Any renewal request and fees received by the commissioner within sixt y (60)

days after the date of expiration may be accepted with no interruption in

license if accompanied by a penalty as provided in KRS 304.99-100.

(c) 1. Completion of the required continuing education course, if applicable,

shall be on or before the expiration date, which is deemed as the last day

of the birth month of the licensee during the applicable odd or even year

on a biennial basis.

2. Proof of compliance shall be received by the commissioner within sixty

(60) days after the expiration date.

(3) A licensee who is unable to comply with the license renewal procedures of this

section due to military service, long -term medical disability, or some other

extenuating circumstance may make a written request for a waiver of those

procedures. The licensee ma y also make a written request for a waiver of any

examination requirement, fine, or other sanction imposed for failure to comply with

these renewal procedures.

(4) As a condition to or in connection with the continuation of any insurance producer

license, the commissioner may require the licensee to file with him or her

information relative to use made of the license during the next preceding calendar

year and especially as to whether the license has been used principally for the

writing of controlled business, as defined in KRS 304.9-100.

(5) As a condition to or in connection with the continuation of any license referred to in

subsection (1) of this section, the commissioner shall require continuous

demonstration of continuing education course completion to sustain the license, and

any license shall terminate if and when the demonstration becomes impaired.

(6) This section does not apply to temporary licenses issued under KRS 304.9 -300, and

licensees not licensed for one (1) full year prior to the end of the applicable biennial

renewal year.