There is a newer version of the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
Subtitle 33. Insurers Rehabilitation and Liquidation
304.33.215 Obligation for unpaid premiums.
Download pdfpay any collected unpaid premium, whether earned or unearned, less any
commissions on the earned portion of the premiums, due to the insurer at the time
policies are terminated pursuant to KRS 304.33-210, except as expressly provided
in KRS 304.33-240(6). Credits, setoffs, or both shall not be allowed to an agent,
broker, or premium finance company for any amounts advanced to the insurer by
the agent, broker, or premium finance company on behalf of, but in the absence of
payment by, the insured. (2) An insured shall be obligated to pay any unpaid earned premiums due to the insurer at the time his policy is terminated pursuant to KRS 304.33-210, subject further to
any additional earned premium payable in the future which may be calculated by the
liquidator representing unbilled audit premiums, experience rated premium
adjustments, or any other similar deferred premium adjustments provided for under
the terms of the insured's policy and which premiums have been apportioned and
billed by the liquidator. Effective: July 13, 1990
History: Amended 1990 Ky. Acts ch. 422, sec. 22, effective July 13, 1990.
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