Kansas Administrative Regulations
Agency 40 - INSURANCE DEPARTMENT
Article 15 - VARIABLE ANNUITIES OR SEPARATE ACCOUNTS
Section 40-15-8 - Variable annuity or separate accounts; agents; procedure for obtaining licenses

Universal Citation: KS Admin Regs 40-15-8

Current through Register Vol. 43, No. 39, September 26, 2024

(a) Each agent desiring to sell, pursuant to K.S.A. 40-436, individual or group contracts on behalf of a life insurance company regularly admitted to do business in this state, shall apply for a license to sell the contracts on a form designated by the commissioner of insurance.

(b) An application for a license shall be accepted only from an individual who:

(1) At the time of application, is licensed to write life insurance on behalf of the company certifying the application;

(2) submits evidence of passing a security examination defined in K.A.R. 40-15-1; or

(3) submits evidence of being currently registered with the federal securities and exchange commission as a broker-dealer, or of being currently associated with a broker-dealer and having met qualification requirements with respect to the broker-dealer association.

(c) A broker-dealer or a person associated with a broker-dealer who is engaged directly or indirectly in the sale of securities, or who supervises, recruits or trains securities sales persons, shall have passed a "securities examination" or shall have been continuously engaged in the securities business since July 1, 1963.

(d) Except as otherwise provided by this regulation, each applicant shall be governed by the provisions of K.A.R. 40-7-1 through K.A.R. 40-7-19.

Disclaimer: These regulations may not be the most recent version. Kansas may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.