806 KAR 9:190 - Disclosure requirements for financial institutions authorized to engage in insurance agency activities

RELATES TO: KRS 286.3-030(4), 304.9-135

NECESSITY, FUNCTION, AND CONFORMITY: KRS 304.9-135(2)(g) requires the Commissioner to promulgate administrative regulations to specify the disclosure forms required by KRS 304.9-135(2)(b), (c), and (f). This administrative regulation specifies the disclosure forms for use by financial institutions authorized to engage in insurance agency activities.

Section 1. A financial institution authorized by law to engage in insurance agency activities shall provide to an insurance consumer the disclosure forms:

(1) Notice of Free Choice of Agent and Insurer; and

(2) Financial Institution Disclosures.

Section 2. The disclosure form, Model Privacy Forms and General Instructions as incorporated by reference in 806 KAR 3:210, may be used to provide the disclosure required under KRS 304.9-135(2)(c).

Section 3. Incorporation by Reference.

(1) The following material is incorporated by reference:

(a) FI-02, "Notice of Free Choice of Agent and Insurer", (12/2020 edition); and

(b) FI-03, "Financial Institution Disclosures", (7/2002 edition).

(2) This material may be inspected, copied, or obtained, subject to applicable copyright law, at the Kentucky Department of Insurance, Mayo-Underwood Building, 500 Mero Street, Frankfort, Kentucky 40601, Monday through Friday, 8 a.m. to 4:30 p.m.

Notes

806 KAR 9:190

926 Ky.R. 506; Am. 1019; eff. 12-16-99; 29 Ky.R. 1362; eff. 1-16-2003; TAm eff. 8-9-2007; 46 Ky.R. 1869; eff. 1-3-2020; 47 Ky.R. 812, 1388; eff. 4-6-2021.

STATUTORY AUTHORITY: KRS 304.9-135(2)(g)