- (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.
(Authorized by K.S.A. 40-103, 40-436; implementing K.S.A. 40-241; effective Jan. 1, 1969; amended, E-71-24, July 1, 1971; amended Jan. 1, 1972; amended May 1, 1979; amended May 1, 1986.)