{"data":{"id":"us-ky/krs-304.9-780","jurisdiction":"us-ky","citation":"KRS 304.9-780","heading":"Portable electronics insurance retailer license -- Duties of supervising","body":"entity -- Qualifications and application for license -- Penalties.\n(1) A portable electronics insurance retailer license issued under this section shall\npermit portable elect ronics retailers to offer and disseminate portable electronics\ninsurance by the licensee, its employees, and authorized representatives at each\nlocation at which the portable electronics retailer does business in the state,\nprovided the dissemination is co nducted in accordance with the provisions of this\nsection.\n(2) A portable electronics insurance supervising entity shall maintain a register of each\nseparate business location where a portable electronics retailer and its employees or\nauthorized representatives offer and disseminate portable electronics insurance and\nshall make the register open to inspection and examination by the commissioner\nupon request. The register shall include the name of the retailer, the address for each\nlocation, and any addition al information the commissioner may prescribe by\nadministrative regulation.\n(3) A portable electronics insurance supervising entity shall oversee the administration\nof a portable electronics retailer's insurance program.\n(4) The commissioner may issue to a  business entity qualified under this section a\nlicense to act as a portable electronics insurance retailer.\n(5) For a portable electronics insurance retailer license to be issued under this section,\nthe business entity shall submit to the commissioner the following:\n(a) A written application, on a form prescribed by the commissioner, which shall\ninclude:\n1. Information solely related to an employee or officer of the portable\nelectronics retailer designated by the applicant as a person responsible\nfor the portable electronics retailer's compliance with this chapter; or\n2. If the portable electronics retailer derives more than fifty percent (50%)\nof its revenue from the sale of portable electronics insurance,\ninformation shall be provided for all officers, directors, and shareholders\nof record that have beneficial ownership of ten percent (10%) or more of\nany class of securities, who are subject to 15 U.S.C. sec. 78p; and\n(b) The application fee as provided in KRS 304.4 -010 and administrative\nregulations promulgated thereunder.\n(6) The commissioner may require any documents reasonably necessary to verify the\ninformation contained in the application submitted in accordance with subsection\n(5) of this section.\n(7) If a portable electronics retailer violates any provision of this section or KRS 304.9-\n782 or 304.9-784 or any applicable provision of this chapter, the commissioner may\nimpose penalties in accordance with KRS 304.9 -440. Any civil penalty imposed by\nthe commissioner, except for civil penalties associated  with violations constituting\nfraud or a material misrepresentation, may not exceed five thousand dollars\n($5,000) in the aggregate for multiple violations arising out of the same or similar\nconduct.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=40496","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:41Z","sha256":"81883fb608f8c30c5718cfe11364768e4596518162df1c45818ad6ca8019db20","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.9-759","next":"us-ky/krs-304.9-782"},"notice":"GroundRules: Original legal text. Not legal advice."}