KY HB233 | 2010 | Regular Session

Kentucky House Bill 233 (Prior Session Legislation)

Status

Completed Legislative Action
Spectrum: Partisan Bill (Democrat 3-0)
Status: Passed on April 8 2010 - 100% progression
Action: 2010-04-08 - signed by Governor (Acts ch. 83)
Text: Latest bill text (Draft #1) [MS Word]

Summary

Amend KRS 304.9-020 to move the definitions for "rental vehicle agent" and "rental vehicle agent managing employee" from KRS 304.9-501 to the subtitle definitions statute; update the definitions of "public adjuster," "independent" and "staff adjuster" to reflect the new uniform definitions; amend the definition of "negotiate" to adopt the definition in the NAIC Producer Model Act; amend KRS 304.9-105 to clarify that a license will "terminate" rather than be revoked if a producer fails to provide proof of financial responsibility; amend KRS 304.9-130 and 304.9-133 to remove the requirement that licensed business entities file an annual report of all designated individuals not terminated on or prior to December 31; amend KRS 304.9-150 to prohibit authorization of entity with same or similar name as licensee already authorized; amend KRS 304.9-230 to add rental vehicle insurance as a limited line of authority; amend KRS 304.9-260 to clarify that a penalty for failure to comply with the renewal procedures will be assessed from the first day after expiration, clarify that the producer will have 60 day grace period before the license will expire to provide continuing education compliance documentation, renewal fee, and penalty fee; amend KRS 304.9-280 to clarify termination-without-cause provisions; amend KRS 304.9-295 to clarify that a license will expire rather than terminate for noncompliance with the continuing education requirements; amend KRS 304.9-421 and 304.9-425 to adopt language from the NAIC Producer Licensing Model Act to expand the scope to all licensees; remove the requirement that an individual receiving override commissions be licensed; amend KRS 304.9-430 and 304.9-432 and create new sections of Subtitle 9 of KRS Chapter 304 to adopt the NAIC Adjuster Model Act; amend KRS 304.9-505, 304.9-436, 304.9-507, and 304.9-509 to provide conforming changes that rental vehicle insurance will now be governed by general statutes related to limited lines of authority; amend KRS 304.12-100 to conform; repeal KRS 304.9-070, 304.9-485, 304.9-501, 304.9-503, and 304.9-513.

Title

AN ACT relating to insurance licensing.

History

Date	Chamber	Action
2010-04-08		signed by Governor (Acts ch. 83)
2010-03-29		delivered to Governor
2010-03-29		enrolled, signed by each presiding officer
2010-03-29		passed 98-0
2010-03-29		House concurred in Senate Committee Substitute
2010-03-17		posted for passage for concurrence in Senate Committee Substitute for Thursday, March 18, 2010
2010-03-11		to Rules (H)
2010-03-11		received in House
2010-03-11		3rd reading, passed 36-0 with Committee Substitute
2010-03-10		posted for passage in the Consent Orders of the Day for Thursday, March 11, 2010
2010-03-10		2nd reading, to Rules
2010-03-09		reported favorably, 1st reading, to Consent Calendar with Committee Substitute
2010-02-05		to Banking & Insurance (S)
2010-02-03		received in Senate
2010-02-02		3rd reading, passed 98-0 with Committee Substitute, floor amendment (2)
2010-01-28		floor amendment (2) filed to Committee Substitute
2010-01-26		taken from the Consent Orders of the Day, placed in the Regular Orders of the Day
2010-01-25		floor amendment (1) filed to Committee Substitute
2010-01-21		posted for passage in the Consent Orders of the Day for Wednesday, January 27, 2010
2010-01-21		2nd reading, to Rules
2010-01-20		reported favorably, 1st reading, to Consent Calendar with Committee Substitute
2010-01-15		posted in committee
2010-01-13		to Banking & Insurance (H)
2010-01-11		introduced in House