Ky. Rev. Stat. § 304.9-400
Current through Acts Received April 24, 2024
That portion of all premiums or moneys which an insurance producer collects from an insured and which is to be paid to an insurer, its agents, its managing general agents or his or her principal because of the assumption of liability through the issuance of policies or contracts for insurance, shall be held by the insurance producer in a fiduciary capacity and shall not be misappropriated or converted to his or her own use or illegally withheld by the insurance producer.
KRS 304.9-400
Amended 2002, Ky. Acts ch. 273, sec. 31, effective7/15/2002. -- Amended 2000, Ky. Acts ch. 393, sec. 29, effective 7/14/2000. -- Amended 1986 Ky. Acts ch. 307, sec. 6, effective 7/15/1986. -- Created 1970 Ky. Acts ch. 301, subtit. 9, sec. 40, effective 6/18/1970.