PUBLIC PROTECTION CABINET

Department of Insurance

Commissionerís Office

(As Amended at ARRS, September 11, 2017)

 

††††† 806 KAR 9:051. Repeal of 806 KAR 9:050 and 806 KAR 9:300.

 

††††† RELATES TO: KRS 304.9-390, 304-9

††††† STATUTORY AUTHORITY: KRS 13A.310, 304.2-110

††††† NECESSITY, FUNCTION, AND CONFORMITY: KRS 304.2-110 authorizes the Commissioner of the Department of Insurance to promulgate administrative regulations necessary for or as an aid to the effectuation of any provision of the Insurance Code. KRS 13A.310 requires that an administrative regulation, once adopted, cannot be withdrawn, but shall be repealed if it is desired that it no longer be effective. This administrative regulation repeals 806 KAR 9:050, Agentís records, which is in conflict with the statutory requirements of KRS 304.9-390. KRS 304.9-390 states the specific record requirements and what records shall be kept by the agency. 806 KAR 9:050 attempts to simplify the record requirements by allowing the agency to include only a daily report.† Daily report is not defined by administrative regulation or statute, is obsolete, and it is unclear whether the daily report includes information mandated by KRS 304.9-390(3), creating a conflict. To cure the conflict, an agent shall be required to meet the statutory mandate in 304.9-390. This administrative regulations also repeals 806 KAR 9:300, Current agent licenses in good standing to receive equivalent, which is obsolete and outdated because its only discrete and limited purpose has been accomplished.

 

††††† Section 1. The following administrative regulations are hereby repealed:

††††† (1) 806 KAR 9:050, Agentís records; and

††††† (2) 806 KAR 9:300, Current agent licensees in good standing to receive equivalent license.

 

NANCY G. ATKINS, Commissioner

DAVID A. DICKERSON, Secretary

††††† APPROVED BY AGENCY: July 14, 2017

††††† FILED WITH LRC: July 14, 2017 at 11 a.m.

††††† CONTACT PERSON: Patrick D. OíConnor II, Kentucky Department of Insurance, 215 W. Main Street, Frankfort, Kentucky 40601, phone (502) 564-6026, fax (502) 564-266, email Patrick.oconnor@ky.gov