806 Ky. Admin. Regs. 3:110

Current through Register Vol. 51, No. 6, December 1, 2024

Section 806 KAR 3:110 - Authorization

RELATES TO: KRS 304.3-070

NECESSITY, FUNCTION, AND CONFORMITY: KRS 304.3-070(1)(b) mandates that no insurer be authorized to transact a kind of insurance in this state unless duly authorized or qualified to transact a specific insurance in the state or county of its domicile. The function of this administrative regulation is to clarify a special circumstance to which such statute would not be applicable.

Section 1.KRS 304.3-070(1)(b) is not applicable where the insurer requesting the authority is unable to write a particular kind of insurance in the state of its domicile because that kind of insurance is written there by a governmental monopoly.

806 KAR 3:110

I-3.12; 1 Ky.R. 857; eff. 5-14-75; Crt eff. 2-26-2020.

STATUTORY AUTHORITY: KRS 304.2-110