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303.122 Bond of undertaking concern desiring to perform provisions of burial
contract.
(1)
(2)
Any person, firm, corporation, partnership or undertaking concern, duly and
regularly licensed to engage in the undertaking business in the Commonwealth
of Kentucky who may desire to perform the provisions of any agreement,
policy, contract, bond, assurance or guarantee issued by any burial association
or association of a similar nature authorized to do business in the
Commonwealth of Kentucky shall file with the commissioner of the Department
of Insurance of the Commonwealth of Kentucky a bond in an amount that is
reasonable to be fixed by the commissioner of insurance of the Commonwealth
of Kentucky, which bond shall be conditioned upon the faithful performance of
the agreement, policy, contract, bond, assurance or guarantee issued by any
burial association or association of a similar nature authorized to do business
in the Commonwealth of Kentucky to its members as approved by the
commissioner of insurance of the Commonwealth of Kentucky.
The commissioner of insurance shall adopt appropriate forms for the filing of
the bond provided for herein and shall, upon request, furnish said forms to any
person, firm, corporation, partnership or undertaking concern, duly and
regularly licensed to engage in the undertaking business in the Commonwealth
of Kentucky, who may desire to qualify under the terms of this section.
Effective:July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 904, effective July 15, 2010. -Created 1944 Ky. Acts ch. 144, sec. 1, effective June 13, 1944.
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