Page 1 of 1
304.2-080 Prohibited interest, rewards.
(1) The commissioner or any deputy, examiner, actuary, assistant or employee of the
department, shall not be connected with the management of, or be financially <br>interested, directly or indirectly, in any insurer, insurance agency or broker, or <br>insurance transaction except as policyholder or claimant under a policy; except, that <br>as to matters wherein a conflict of interest does not exist on the part of any such <br>individual, the commissioner may employ or retain from time to time insurance <br>actuaries, examiners, accountants, attorneys, or other technicians who are <br>independently practicing their profession even though from time to time similarly <br>employed or retained by insurers or others.
(2) No person shall directly or indirectly give or pay to the commissioner or any deputy,
examiner, actuary, assistant, employee or technician retained by the department; and <br>the commissioner, or any deputy, examiner, actuary, assistant, employee or <br>technician retained by the department, shall not directly or indirectly receive or <br>accept any fee, compensation, loan, gift or other thing of value in addition to the <br>compensation and expense allowance provided by law, or by contract with the <br>commissioner, for any service rendered or to be rendered, as such commissioner, <br>deputy, examiner, actuary, assistant, employee or technician, or in connection <br>therewith.
(3) Subsection (1) of this section shall not be deemed to prohibit receipt by any such
person of commissions or retirement benefits to which entitled by reason of services <br>performed prior to becoming commissioner or prior to employment by the <br>commissioner.
Effective: July 15, 2010 <br>History: Amended 2010 Ky. Acts ch. 24, sec. 922, effective July 15, 2010. -- Amended
2004 Ky. Acts ch. 24, sec. 2, effective July 13, 2004. -- Created 1970 Ky. Acts <br>ch. 301, subtit. 2, sec. 8, effective June 18, 1970.
Disclaimer: These codes may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
