HB 275 (BR 1140) - S. Riggs
AN ACT relating to insurance licenses of individuals and business entities licensed under Subtitles 9, 10, and 29 of KRS Chapter 304.
Amend various sections of Subtitle 9 of KRS Chapter 304 to make technical correction; define terms; require a resident applicant for a variable life and variable annuities line of authority to hold an active life line of authority; require the applicant for an administrator license to be a resident of Kentucky or currently licensed and in good standing in his or her home state; delete the requirement of a high school education from qualifications for an agent's license; delete requirement that prelicensing course of study be a classroom course; create exemptions from licensing qualifications and requirements persons with certain insurance designations; require a business entity to have for each of its active lines of authority at least one licensed individual with the same line of authority designated with the commissioner; require an application of an individual to show whether the applicant is a citizen of the United States; require an individual designating Kentucky as his or her home state to submit a criminal background report and a complete set of fingerprints; require the license renewal fees to be received on or before the applicable due date for the license; provide that beginning January 31, 2006, in conjunction with a license renewal, an individual holding a resident license for agent, rental vehicle managing employee, and viatical settlement broker to show proof of compliance with the continuing education requirements; permit acceptance of any renewal request and fees received by the commissioner after 30 days from the date of expiration but within 60 days of expiration if accompanied by a penalty; require proof of continuing education compliance with 60 days after the expiration date; require an insurer prior to appointment to satisfy itself that the applicant has not been convicted of a felony involving dishonesty or breach of trust and has not been convicted of a fraudulent insurance act; allow an agent to act as a representative of and place insurance with an insurer without first obtaining approval of the appointment by the commissioner for a period of 15 rather than 30 days; require an insurer, no later than 15 days rather than 45 days from the date the agent contract is executed or the first insurance application is submitted by an agent, whichever is earlier, to file with the commissioner a notice of appointment; require the insurer who terminates a licensee without cause to mail a notice of termination within 15 days after making the notification; establish the continuing education biennial compliance dates beginning January 31, 2006; require continuing education to include three hours of ethics; require the provider to furnish to the commissioner certification of continuing education courses completed by each licensee; authorize the commissioner to withdraw approval of continuing education provider, course, or instructor for good and just cause and to impose a civil penalty; require a consultant to be at least 18 rather than 25 years of age; provide that no adjuster's license is required by an adjuster sent into this state to investigate a particular loss if the insurer certifies the adjuster has qualified by passing a state insurance regulatory adjuster examination or that the adjuster is employed as a claims adjuster experienced in adjusting catastrophic claims with a minimum of three years experience; prohibit an authorized insurer from doing business in Kentucky with an administrator who is not licensed in accordance with KRS 304.9-052; allow the commissioner to place on probation, suspend, or impose conditions on the continuance of a license for not more than 24 rather than 12 months; require a resident surplus lines broker who fails to maintain his or her agent license with lines of authority for property and casualty to terminate and promptly surrender to the commissioner his license without demand; require the agent of a fraternal benefit society to be licensed as an agent in accordance with Subtitle 9 of the KRS Chapter 304; authorize the commissioner to contract for collection, transmission, resubmission, and retention of fingerprints; require the commissioner upon receipt of fingerprints to submit the fingerprints to the Kentucky State Police; authorize the commissioner to receive criminal history record information from the Federal Bureau of Investigation or the Department of State Police; prohibit the commissioner from sharing criminal history records information received from the Federal Bureau of Investigations with the insurance regulators of other states, the National Association of Insurance Commissioners, or any other persons as prohibited under 28 C.F.R. 20.33; amend other sections of KRS Chapter 304 to conform; repeal KRS 304.9-480, which defines terms for KRS 304.9-480 and 304.9-485.
HB 275 - AMENDMENTS
HCS - Retain original provisions; delete requirement in Section 6 that each prelicensing course of study must include eight hours of instruction on insurance laws and ethics; require the annual report in Section 8(4)(a) to be filed in each odd-numbered year; limit the application in Section 9(4) to the application of a resident individual; delete the requirement of submitting fingerprints in Section 9(8); delete Section 16 which amended KRS 304.9-430; delete Section 22 pertaining to collection, transmission, resubmission, and retention of fingerprints.
SFA (1, J. Denton) - Attach the provisions of SB 97/GA to HB 275/GA.
SFA (2/Title, J. Denton) - Make title amendment.
SFA (3, J. Denton) - Attach provisions of SB 209.
SFA (4/Title, J. Denton) - Make title amendment.
SFA (5, J. Denton) - Attach provisions of SB 209/GA; amend KRS 91A.080 to apply exemptions on any license fee or tax imposed for premiums received on high deductible health plans.
SFA (6, J. Denton) - Attach SB 209/GA; add permit insurer to amend policy forms.
SFA (7, J. Denton) - Amend KRS 205.560 to require Medicaid to use forms and guidelines established by the commissioner of insurance to assess the credentials of health care providers applying for participation in Medicaid; amend KRS 216B.155 to require health care facilities to use the application form and guidelines established by the commissioner of insurance to assess the credentials of persons applying for privileges; and amend KRS 314.17A-545 to require the commissioner of insurance to establish a uniform application form and guidelines for the evaluation and reevaluation of health care providers, including psychologists, who will be on a health benefit plan's list of participating providers.
Feb 2-introduced in House
Feb 3-to Banking and Insurance (H)
Feb 9-posted in committee
Feb 16-reported favorably, 1st reading, to Calendar with Committee Substitute
Feb 17-2nd reading, to Rules
Feb 22-posted for passage in the Regular Orders of the Day for Wednesday, February 23, 2005
Feb 25-3rd reading, passed 90-0 with Committee Substitute; received in Senate
Feb 28-to Banking and Insurance (S)
Mar 2-reported favorably, 1st reading, to Calendar
Mar 3-2nd reading, to Rules; posted for passage in the Regular Orders of the Day for Friday, March 4, 2005; floor amendments (1) (2-title) (3) and (4-title) filed
Mar 4-passed over and retained in the Orders of the Day; floor amendments (5) (6) and (7) filed
Mar 8-3rd reading; floor amendments (1) (2-title) (3) (4-title) (5) (6) and (7) withdrawn; passed 33-0; received in House; enrolled, signed by each presiding officer; delivered to Governor
Mar 18-signed by Governor (Acts ch. 143)