40-5513. Allowable compensation for adjuster; prohibitions. (a) No public adjuster shall charge, agree to or accept as compensation or reimbursement any payment, commission, fee or other thing of value equal to more than 10% of any insurance settlement or proceeds.
(b) A public adjuster shall not pay a commission, service fee or other valuable consideration to a person for investigating or settling first party claims in this state, if that person is a business entity or is an individual required to be licensed under this act and is not so licensed.
(c) A person shall not accept a commission, service fee or other valuable consideration for investigating or settling first party claims in this state, if that person is a business entity or is an individual required to be licensed under this act and is not so licensed.
(d) No public adjuster shall require, demand or accept any fee, retainer, compensation, deposit or other thing of value, prior to settlement of a claim.
History: L. 2009, ch. 83, ยง 13; Apr. 23.
Structure Kansas Statutes
Article 55 - Public Adjusters Licensing Act
40-5503 License required; limitations; exceptions.
40-5504 Application for license.
40-5506 Examination; retaking examination; when.
40-5507 Pre-licensing examination not required; when.
40-5508 Nonresident public adjuster license, when; requirements.
40-5509 Issuance of license; fee; renewal.
40-5510 Suspension, revocation or nonrenewal of license; penalties.
40-5511 Evidence of financial responsibility.
40-5512 Continuing education requirements.
40-5513 Allowable compensation for adjuster; prohibitions.
40-5514 Contracts for services; requirements; disclosures; prohibitions.
40-5515 Records of transactions.
40-5516 Adjuster requirements; ethical requirements.
40-5517 Reports of legal actions against adjuster.