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329A.050 Change of ownership -- Agent who ceases to perform duties.
(1) If the ownership of an investigating company changes, the new owner, if not already
a licensee, shall not operate that company more than thirty (30) days after the date <br>of the ownership change unless, within the thirty (30) day period, the new owner <br>submits an application for a license. <br>(a) If the application is submitted, the new owner may continue to operate the
company until the application has been finally determined by the board.
(b) The board may extend for a reasonable time the period for submitting an
application under this subsection.
(2) If the qualifying agent of a company ceases to perform the duties of an agent on a
regular basis, the licensee shall notify the board by certified or registered mail <br>within thirty (30) days and substitute a new qualifying agent within ninety (90) <br>days. The board may extend for a reasonable time the period for obtaining a <br>substitute qualifying agent.
Effective: July 15, 2002 <br>History: Created 2002 Ky. Acts ch. 269, sec. 9, effective July 15, 2002.
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