17-2256.   Agent to write contracts; application for permission; approval,when; fee.(a) Every guarantee corporation, approved by the administrator, shall writecontracts guaranteeing the shares of credit union members only through anagent approved to write such contracts by the administrator. Such agentsshall apply to the administrator for permission to write such contracts.The administrator shall grant such authority only after:

      (1)   The applicant provides such applicant's name, address and socialsecurity number;

      (2)   the administrator is satisfied that the applicant is of goodreputation and that the applicant has received training or is otherwisequalified to sell this type of contract; and

      (3)   the applicant has paid an application fee of $5.

      (b)   The approval of such agents shall expire every year on May 31and may be renewed by the administrator upon the payment of $5 unless thereis, after a hearing or an opportunity for a hearing is given to the agentin accordance with the provisions of the Kansas administrative procedureact, a sufficient showing of cause why the agent should not continue tosell such contracts.

      History:   L. 1975, ch. 136, § 15; L. 1981, ch. 103, § 6;L. 1988, ch. 356, § 54; July 1, 1989.