HB 18 (BR 169) - R. Crimm
AN ACT relating to insurance agents.
Amend KRS 304.9-270 to establish requirements for making appointment of licensed insurance agent; require insurer to file notice of appointment within 15 days after execution of agency contract or submission of first insurance application by the agent; prohibit agent from acting as agent of insurer if acknowledgment of appointment is not received within 30 days from the date of submission of first insurance application; amend KRS 304.9-080 to conform.
HB 18 - AMENDMENTS
HCS - Delete provisions in Section 1 and amend KRS 304.9-270 to provide that no agent may place applications with an insurer unless the agent is an appointed agent of the insurer and the appointment has been approved by the commissioner; authorize an agent to act as representative of an insurer without first obtaining an appointment for 30 days if the agent has filed with the commissioner evidence of financial responsibility; require the agent to discontinue acting as agent for insurer if insurer does not receive insurer acknowledgment of approval of the agent's appointment within 30 days; require an insurer to file with the commissioner a written notice of appointment no later than 45 days from the date the agency contract is executed or the first insurance application is submitted by the agent; require the commissioner to notify the agent whether the agent is eligible for appointment within 15 days of receipt of notice of appointment.
SFA (1, M. Long) - Amend to allow an agent to substitute certain criteria as it applies to an appointment.
(Prefiled by the sponsor(s) indicated with a recommendation for passage by the Interim Joint Committee on Banking and Insurance)
Jan 4-introduced in House; to Banking and Insurance (H)
Jan 10-posted in committee
Jan 20-reported favorably, 1st reading, to Calendar with Committee Substitute
Jan 21-2nd reading, to Rules
Jan 24-posted for passage in the Regular Orders of the Day for Tuesday, January 25, 2000
Jan 25-3rd reading, passed 92-1 with Committee Substitute
Jan 26-received in Senate
Jan 28-to Banking and Insurance (S)
Feb 8-reported favorably, 1st reading, to Consent Calendar
Feb 9-2nd reading, to Rules
Feb 14-moved from Consent; posted for passage in the Regular Orders of the Day for Tuesday, February 15, 2000
Feb 15-passed over and retained in the Orders of the Day; floor amendment (1) filed
Feb 16-passed over and retained in the Orders of the Day
Feb 17-3rd reading; floor amendment (1) withdrawn ; passed 38-0
Feb 18-received in House; enrolled, signed by Speaker of the House
Feb 22-enrolled, signed by President of the Senate; delivered to Governor
Mar 3-signed by Governor (Acts ch. 57)