™Your Policy Risk Impact Agent
21 chapters · 2,203 sections in this title.
KRS § 304.3-520 Contract between insurer and controlling agent -- Minimum provisions -- Prohibited activities
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- Prohibited activities. A person acting in the capacity of controlling agent shall not place business with an insurer unless there is in force a written contract between the parties which sets forth the responsibilities of each party and, where both parties share responsibility …
KRS § 304.3-530 Duties and responsibilities of insured and controlling agent
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(1) The insurer shall have on file an independent financial examination, in a form acceptable to the commissioner, of each controlling agent with which it has done business. (2) If a controlling agent establishes loss reserves, the insurer shall annually obtain the opinion of an …
KRS § 304.3-540 Acts of controlling agent -- Examination by commissioner
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The acts of controlling agents are considered to be the acts of the insurer on whose behalf the controlling agents are acting. A controlling agent may be examined by the commissioner as if it were the insurer.
KRS § 304.3-550 Penalties
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(1) If the commissioner finds that any person has violated any provision of KRS 304.3- 500 to 304.3-570 or KRS 304.9-440, the commissioner may order: (a) For each separate violation, a civil penalty in the amounts set forth in KRS 304.99-020; (b) Conditions upon, or revocation, o…