Title 806 | Chapter 009 | Regulation 110
806 KAR 9:110.Agent's rights after contract termination.
Section 1.
Prohibitions. Except as provided in Section 2 of this administrative regulation, no agency contract with a property or casualty agent who is an independent agent independent contractor compensated on a commission basis shall:(1)
Infringe upon the right of the agent, while licensed, to service runoff business after termination of the agency contract; or(2)
Contain any provision which prevents the agent from being licensed with another insurer in order to avoid policy lapses which would otherwise occur after termination.Section 2.
Permitted Provisions. An agency contract with a property or casualty agent who is an independent contractor compensated on a commission basis may provide that the following are the property of the company and shall be returned to the company upon cancellation or termination of the contract:(1)
Renewals;(2)
Records;(3)
Manuals;(4)
Documents; and(5)
Right of renewals.HISTORY: (I-9.15; 1 Ky.R. 862; eff. 5-14-75; TAm eff. 8-9-2007; 46 Ky.R. 978, 1869; eff. 1-3-2020.)
806 KAR 9:110.Agent's rights after contract termination.
Section 1.
Prohibitions. Except as provided in Section 2 of this administrative regulation, no agency contract with a property or casualty agent who is an independent agent independent contractor compensated on a commission basis shall:(1)
Infringe upon the right of the agent, while licensed, to service runoff business after termination of the agency contract; or(2)
Contain any provision which prevents the agent from being licensed with another insurer in order to avoid policy lapses which would otherwise occur after termination.Section 2.
Permitted Provisions. An agency contract with a property or casualty agent who is an independent contractor compensated on a commission basis may provide that the following are the property of the company and shall be returned to the company upon cancellation or termination of the contract:(1)
Renewals;(2)
Records;(3)
Manuals;(4)
Documents; and(5)
Right of renewals.HISTORY: (I-9.15; 1 Ky.R. 862; eff. 5-14-75; TAm eff. 8-9-2007; 46 Ky.R. 978, 1869; eff. 1-3-2020.)